Amendment status not verified — confirm the current text below against the official source.
(1) The moneys credited to the revenue account shall be held by the Board in trust, and shall be applied to -- (a) meeting all charges for interest and sinking fund due on account of any loan taken in pursuance of this Act, and all other charges incurred in connection with such loans; (b) paying all sums due from the Board in respect of rates and taxes imposed under the Trivandrum City Municipal Act, upon land vested in the Board; (c) paying the cost (if any) of maintaining a separate establishment for the collection of the rents and other proceeds of land vested in the Board; (d) paying the fees determined for arbitrators under section 83: (e) paying all sums which the Government may direct to be paid to any auditor under section 130; (f) making payments in pursuance of section 146 for interest or for expenses of maintenance or working; (g) paying the cost of management, excluding such proportion thereof as may be debited to the capital account under clause (g) or section 121; (h) paying all other sums due from the Board other than those which are required by section 121 to be disbursed from the capital account. (2) The surplus (if any) remaining after making the payments referred to in sub-section (1) shall, subject to the maintenance of a closing balance as required by sub-section (2) of section 112, be invested in the manner prescribed in section 103 towards the service of any loans outstanding alter the expiry of sixty years from the commencement of this Act, unless the Government otherwise direct.