Amendment status not verified — confirm the current text below against the official source.
( I) There shall be a Municipal Fund held by the Corporation in Municipal trust for the purposes of this Act and all moneys realised or realisable Fund. under this Act and all moneys otherwise received by the Corporation shall be credited to this fund. (2) The Municipal Fund shall be maintained in the following for accounts, namely:— (a) the Water-supply, Sewerage and Drainage Account, (b) the Road Development and Maintenance Account, (c) the Bustee Services Account, and (d) the General Account. (3) All moneys payable to the Municipal Fund in the different accounts referred to in sub-section (2) shall forthwith be paid into the State Bank of India or in any other bank approved by the State Government in this behalf, to the credit of the accounts which shall respectively he styled as— (a) the Water-supply, Sewerage and Drainage Account of the Municipal Fund of the Chandernagore Municipal Corporation, (h) the Road Development and Maintenance Account of the Municipal Fund of the Chandernagore Municipal Corporation, 559 The Chandernagore Municipal Corporation Act, 1990. [West Ben. Act (Part III—Finance.—Chapter VIL—The Municipal Fund, Budget, Loans, Accounts and Audit.—Sections 58-62.) (c) the Bustee Services Accounts of the Municipal Fund of the Chandernagore Municipal Corporation, and (d) the General Account of the Municipal Fund of the Chandernagore Municipal Corporation. Payment to Corporation to meet the cost of administra- tion of Poor Fund. Application of Municipal fund. Operation of bank account. Payment not to be made out of the Municipal Fund unless covered by a budget grant. Investment of surplus moneys.