Amendment status not verified — confirm the current text below against the official source.
(1) 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 under Fund. 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 four 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 be styled as— (a) the Water-supply, Sewerage and Drainage Account of the Municipal Fund of the Howrah Municipal Corporation, (b) the Road Development and Maintenance Account of the Municipal Fund of the Howrah Municipal Corporation, (c) the Bustee Services Account of the Municipal Fund of the Howrah Municipal Corporation, and (d) the General Account of the Municipal Fund of the Howrah Municipal Corporation. 299 The Howrah Municipal Corporation Act, 1980. [West Ben. Act (Part 11L—Finance.--Chapter V11. TheMunicipal Fund, Budget, Loans, Accounts and Audit—Sections 56-60.) Application of Municipal Fund. Operation of bank accounts. Payment not to be made out of the Municipal Fund unless covered by a budget grant. Investment of surplus moneys. Annual Budget.