Section 96(2) in The Maharashtra Municipal Corporations Act, 1949
(2)In budget estimate "A" the Standing Committee shall, -(a)propose with reference to the provisions of Chapter XI such rates and extent of municipal taxes [other than those referred to in clause (a) of the subsection (2A) as it thinks fit](b)allow for the appropriation to any special fund of the sum estimated by the Commissioner, revised as it thinks proper;(c)provide for payment as they fall due, of all sums and of all instalments of principal and interest for which the Corporation maybe liable under this Act other than sums and instalments of principal and interest for which the Corporation may be liable by reason of the acquisition, extension, administration, operation and maintenance of the Transport Undertaking;(d)provide for such expenditure, if any, as it considers necessary to defray from the balance in any special fund;(e)allow for a cash balance at the end of the said year exclusive of the balance, if any, of any special fund of not less than one lakh of rupees or such smaller amount as the [State] Government may from time to time approve.[(2A) In budget estimate "C" the Standing Committee shall -(a)propose with reference to the provisions of Chapter XI such rates and extent of such municipal taxes, namely water tax, water benefit tax, sewerage tax, and sewerage benefit tax, or, where applicable conservancy tax, as it thinks fit for the purposes of Chapters XII and XIII;(b)state the estimate of receipts of the aforesaid taxes or any other receipts;(c)provide for payment as they fall due, of all sums and of all instalments of principal and interest for which the Corporation may be liable under this Act in respect of matters falling under Chapters XII and XIII;(d)provide for such expenditure, if any, as the Commissioner considers necessary to be incurred by the Corporation in the next official year for the purpose of Chapters XII and XIII.]
