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The Town Improvement Act, 1953 (East Bengal Act)

( ACT NO. XIII OF 1953 )

Chapter VI

FINANCE

Accounts

Application of capital account
137. The moneys credited to the capital account shall be held by the Kartripakkha in trust, and shall be applied to-
 
 
 
 
(a) meeting all costs of framing and executing improvement schemes and re-housing schemes;
 
 
 
 
(b) meeting the cost of acquiring land for carrying out any of the purposes of this Act;
 
 
 
 
(c) meeting the cost of constructing buildings required for carrying out any of the purposes of this Act;
 
 
 
 
(d) the repayment of loans from money borrowed in pursuance of clause (b) of section 104;
 
 
 
 
(e) making payments in pursuance of section 163 otherwise than for interest or for expenses of maintenance or working;
 
 
 
 
(f) making or contributing towards the cost of making, surveys, in pursuance of section 180;
 
 
 
 
(g) meeting such proportion of the cost of management as the Kartripakkha may, with the sanction of the Government, prescribe in this behalf; and
 
 
 
 
(h) temporarily making good the deficit (if any) in the revenue account at the end of any financial year.

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