Amendment status not verified — confirm the current text below against the official source.
(1) The Corporation shall, on or before the 2nd day of March in each year, adopt for the ensuing year a budget estimate of the income and the expenditure of the Corporation to be received and incurred on account of the municipal government of the city. (2) The budget estimate shall separately state the income and the expenditure of the Corporation to be received and incurred in terms of the following 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. 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. Annual Budget. 281 The Siliguri Municipal Corporation Act, 1990. Power of the Corporation to raise loan. Limit to the power to raise loan. [West Ben. Acl (Part 111.—Finance.—Chapter VIL—The Municipal Fund, Budget, Loans, Accounts and Audit.—Sections 61, 62.) (3) The budget estimate shall state the rates at which various taxes, cesses and fees shall be levied by the Corporation in the year next following. (4) The budget estimate shall state the amount of money to be raised by the Corporation as loan during the year next following. (5) The Mayor shall present the budget estimate to the Corporation on the 15th day of February in each year or as soon as possible thereafter. (6) The budget estimate shall be prepared, presented and adopted in such form and in such manner, and shall provide for such matters, as may be determined by regulations. (7) The Corporation may from time to time revise the budget estimate of a year during the course of that year, in due consideration of the recommendation of the Mayor-in-Council in that behalf.