Section 119 in The Calcutta Municipal Corporation Act, 1980
119. Municipal. Fund. -
(1)There shall be a fund to be called the Municipal Fund to be held by the Corporation in trust for the purposes of this Act and all moneys realised or realisable under this Act and all moneys realised or realisable under this Act and all moneys otherwise received by the Corporation shall be credited thereto.(2)The Municipal Fund shall be maintained in the following five accounts, namely :-(a)the Water-supply, Sewerage and Drainage Account,(b)the Road Development and Maintenance Account,(c)the Bustee Services Account,(d)the Commercial Projects Account, and(e)the General Account which shall relate to all moneys received by or on behalf of the Corporation other than those specified in clause (a), clause (b), clause (c) or clause (d).Explanation.- For the purpose of this section, "commercial projects" shall include municipal markets, market development projects, property development projects, and such projects of a commercial nature as may be specified by the Corporation from time to time.(3)All moneys realised on different accounts referred to in sub-section (2) shall forthwith be deposited with the State Bank of India or with such other scheduled bank as may be approved by the State Government in this behalf for credit to the respective heads of accounts styled as-(a)the Water-supply, Sewerage and Drainage Account of the Municipal Fund of the Calcutta Municipal Corporation;(b)the Road Development and Maintenance Account of the Municipal Fund of the Calcutta Municipal Corporation;(c)the Bustee Services Account of the Municipal Fund of the Calcutta Municipal Corporation;(d)the Commercial Projects Account of the Municipal Fund of the Calcutta Municipal Corporation; and(e)the General Account of the Municipal Fund of the Calcutta Municipal Corporation.
