Section 139 in Uttar Pradesh Municipal Corporation Act, 1959
139. [ Constitution of Corporation and other funds. [Section 59 of President's Act 11 of 1973 affects this section on constitution of the Authority for a development area.]
(1)There shall be established a Fund for each Corporation, hereinafter called the Corporation Fund, and, subject to the provisions of this Act and the rules made thereunder, there shall be placed at the credit thereof all moneys received by or on behalf of the Corporation under this Act or any other law, or contract, including -(a)the proceeds of the property of the Corporation;(b)the rents of the property of the Corporation;(c)the proceeds of all taxes or fees and fines (other than fines imposed by a court), levied by or under this Act;(d)all money received by way of compensation or for compounding offences under the provisions of this Act;(e)all interest and profits arising from any investment of, or from any transaction in connection with, any money belonging to the Corporation;(f)all moneys received by or on behalf of the Corporation from the Government [including grants-in-aid from the Consolidated Fund of the State] or public bodies, private bodies or other persons by way of grant, gift or deposit, subject, however, to the conditions, if any, attached to such grant, gift or deposit.(2)All moneys payable to the credit of the Corporation Fund shall be received by the Municipal Commissioner and shall forthwith be paid into the State Bank of India [or with the previous sanction of the State Government into the U.P. Cooperative Bank or such other Scheduled Bank or banks as the Corporation may appoint,] [Substituted by U.P. Act 21 of 1964.] to the credit of an account which shall be styled "the account of the Corporation Fund of:Provided that the Municipal Commissioner may, subject to any general or special directions issued by the Executive Committee, retain such balances in cash as may be necessary for current payments.(3)The Corporation [shall constitute a Development Fund and] [Substituted by U.P. Act 22 of 1961.] may also constitute such special funds as may be prescribed and such other funds as may be necessary for the purposes of this Act. The constitution and disposal of such funds shall be effected in the manner prescribed.]
