39. (1) There shall be a fund to be known as the Rajshahi Town Development Authority Fund, hereinafter referred to as the Fund, which shall vest in the Authority and shall be utilised by the Authority to meet charges in connection with its functions under this Ordinance, including the payment of salaries, other remuneration and fees to the Chairman, members, officers, advisers, consultants and other staff and employees of the Authority. (2) The Fund shall consist of- (a) grants made by the Government; (b) loans obtained from the Government; (c) grants made by local authorities; (d) loans raised by the Authority with the special or general sanction of the Government; (e) foreign aid and loans obtained from any source outside Bangladesh, with the previous sanction of the Government; and (f) all other sums received by the Authority.

40. The Authority may, with the previous sanction of the Government, borrow money for carrying out the purposes of this Ordinance or for servicing any loan obtained by it.

41. The Authority shall maintain its accounts in such manner as may be prescribed.

42. The Authority shall, by such date in each year as may be prescribed, submit to the Government for approval a statement, to be called the annual budget statement, in the prescribed form for every financial year showing the estimated receipts and expenditure and the sums which are likely to be required from the Government during that financial year.

43. (1) The Accounts of the Authority shall be audited by the Comptroller and Auditor-General of Bangladesh, hereinafter in this section referred to as the Auditor –General, in such manner as he deems fit. (2) For the purpose of an audit under sub-section (1), the Auditor-General or any person authorised by him in that behalf shall have access to all records, books, documents, cash, securities, stores and other property of the Authority and may examine the Chairman, any member or any officer or employee of the Authority. (3) The Auditor-General shall submit his audit report to the Government and shall forward a copy thereof to the Authority.

44. (1) Where, in the opinion of the Authority, as a consequence of any development scheme having been executed by the Authority in any area, the value of any land in that area has increased or will increase, the Authority may levy upon the owner of the land or any person having any interest therein, a betterment fee in respect of the increase in the value of the land resulting from the execution of the development scheme. (2) Such betterment fee shall be an amount not exceeding one-half of the amount by which the value of the land on the completion of the execution of the development scheme, estimated as if the land were clear of building, exceeds the value of the land estimated in like manner prior to such execution: Provided that in levying betterment fee on any land the Authority shall take into consideration the extent and nature of benefit accruing to the land from the development scheme and such other factors as may be prescribed.

45. (1) When it appears to the Authority that any particular development scheme is sufficiently advanced to enable the amount of the betterment fee to be determined, the Authority may, by order made in this behalf, declare that for the purpose of determining such fee the execution of the scheme shall be deemed to have been completed and shall thereupon give notice in writing to the owner of the land or any person having an interest therein that the Authority proposes to assess the amount of the betterment fee in respect of the land under section 44. (2) The Authority shall then assess the amount of betterment fee payable by the person concerned after giving such person an opportunity to be heard. (3) Any person aggrieved by the assessment of betterment fee made by the Authority under sub-section (2) may, within thirty days from the date of such assessment, appeal to the Government whose decision shall be final.

46. When the amount of all betterment fees payable in respect of land in the area comprised in the development scheme has been assessed under section 45, the Authority shall, by a notice in writing to be served on all persons liable to such payment, fix a date by which such payment shall be made, and an interest at the rate of six per cent per annum upon any amount outstanding shall be payable from that date.

47. (1) Any person liable to the payment of betterment fee may, at his option, instead of making a payment thereof to the Authority, execute an agreement with the Authority to leave the said payment outstanding as a charge on his interest in the land, subject to the payment in perpetuity of interest at the rate of six per cent per annum, the first annual payment of such interest being made on the expiry of one year from the date fixed under section 46. (2) Every payment due from any person in respect of a betterment fee and every charge referred to in sub-section (1) shall, notwithstanding anything contained in any other law for the time being in force, be the first charge upon the interest of such person in such land.

48. Any such due to the Authority from any person under this Ordinance shall be recoverable as a public demand.