Amendment status not verified — confirm the current text below against the official source.
(1) The Authority shall have and maintain its own fund to which shall be credited,- (a) all moneys received by the Authority from the Government by way of grants, loans, advances or otherwise; (b) all moneys borrowed by the Authority from sources other than the Government by way of loans or debentures; (c) all fees, tolls, costs and charges received by the Authority under this Act and under any provision of law made applicable to the township under section 12; (d) all moneys received by the Authority from the disposal of lands, buildings and other properties movable and immovable and from other transactions; and (e) all moneys received by the Authority by way of rents and profits or in any other manner or from any other source. (2) The fund shall be applied towards meeting the expenses incurred by the Authority and in the administration of this and for no other purposes. Assets of the Promoting Agency or any persons. Recovery of Land Revenue Authority to be Local Authority and Planning Authority. Fund of the Authority 9