Section 125(1) in The Calcutta Improvement Act, 1911
(1)The moneys credited to the revenue account shall be held by the Board in trust, and shall be applied to -(a)meeting all charges for interest and sinking fund due on account of any loan taken in pursuance of section 89, clause (a), or section 91, and all other charges incurred in connection with such loans;(b)paying all sums due from the Board in respect of rates and taxes imposed under [the Calcutta Municipal Act, 1951] [Clause (ci) substituted by W. B. Act 32 of 1955.], upon land vested in the Board;(c)paying the cost (if any) of maintaining a separate establishment for the collection of the rents and other proceeds of land vested in the Board;(ci)[ paying of cost of holding or participating in conferences or exhibitions relating to urban improvements] [Clause (ci) substituted by W. B. Act 32 of 1955.];(cc)[ paying the fees prescribed for arbitrators under section 78D] [Clause (cc) substituted by Ben. Act 8 of 1931.];(d)paying all sums which the [State Government] [Words substituted by the Adaptation of Laws Order, 1950.] may direct to be paid to any auditor under section 132 ;(e)making payments in pursuance of section 149, for interest or for expenses of maintenance or working;(f)paying the cost of management, excluding such proportion thereof as may be debited to the capital account under clause (g) of section 123; and(g)paying all other sums due from the Board, other than those which are required by section 123 to be disbursed from the capital account.
