(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 clause (a) of section 58, or section 99, 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, 1923, as extended to the Howrah Municipality [or under the Bengal Municipal Act, 1932, as the case may be,] [Words inserted by W.B. Act 43 of 1983.] upon land vested in the Board;(c)holding or participating in conferences or exhibitions relating to urban improvement;(d)paying the fees prescribed for arbitrators under section 83;(e)paying all sums which the State Government may direct to be paid to any auditor under section 143;(f)paying the cost of management, excluding such proportion thereof as may be debited to the capital account under clause (f) of section 133;(g)paying all other sums due from the Board, other than those which are required by section 133 to be disturbed from the capital account; and(h)meeting the cost of survey, if any, made by the direction of the Board under section 174.(2)The surplus (if any) remaining after making the payments referred to in sub-section (1) shall, subject to the maintenance of a closing balance of twenty-five thousand rupees and unless contributed permanently to the capital account under the direction of the State Government or advanced to the capital account under the provisions of section 137, be invested, in the manner prescribed in section 109, towards the service of any loans outstanding after the expiry of sixty years from the commencement of this Act.
