Section 96(2) in The Bombay Provincial 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 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 may be 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.
