Amendment status not verified — confirm the current text below against the official source.
Fund of the Authority.- (1) There shall be a Fund called Chandraguthi Shree Renukamba Kshetra Development Authority Fund. (2) There shall be credited to the said Fund,- (i) all grants, subventions, donations and gifts made by the Central Government, State Government, any local authority or anybody, whether incorporated or not or any person; and (ii) the amount borrowed by the Authority: Provided that, the donations, Kanikes, Seva Fees and other offering made to God in Hundi shall be credited to the fund of the Authority and out of which the net income of that temple the authority shall contribute to the common pool fund created under section 17 of the Karnataka Hindu Religious and Charitable Endowments Act, 1997 (Karnataka Act 33 of 2001) at such rate as specified in the said section. (3) Except as otherwise directed by the State Government all moneys credited to the Fund shall be invested in any Scheduled Bank or in the State Government Treasury. (4) The administrative expenses of the Authority including the salaries, allowances and pension if any payable to the Secretary and other officer and employees of the Authority shall be defrayed out of the fund of the Authority.