Section 83B in The City of Nagpur Corporation Act, 1948
83B. Establishment of Sewage and Water Fund.
(1)The Corporation shall establish and set apart a separate fund to be called the Sewage and Water Fund.(2)All moneys received by or on behalf of the Corporation under clauses (a) and (b) of section 115A or any other moneys received for the purposes of Chapters XIII, XIV, XVI and XVII shall be credited to the Sewage and Water Fund.(3)All moneys payable to the credit of the said Fund shall be received by the Commissioner and forthwith paid by him into the Bank or Banks approved by the [Standing Committee] [These words were substituted for the words 'Mayor-in-Council' by Maharashtra 26 of 1999, Section 42.], from time to time, in this behalf to the credit of account which shall be styled the 'Account of the Sewage and Water Fund' :Provided that, the Commissioner may retain such balance in cash as may be necessary for the purposes of Chapters XIII, XIV, XVI and XVII.(4)The moneys from time to time credited to the said Fund shall be applied only in payment of all sums, charges and costs necessary for the purposes of carrying into effect the provisions of Chapters XIII, XIV, XVI and XVII.(5)Surplus moneys at the credit of the said Fund, which cannot immediately or at an early date be applied as provided in sub-section (4) may, from time to time, be deposited by the Commissioner at interest in the Bank or Banks approved by the [Standing Committee] [These words were substituted for the words 'Mayor-in-Council' by Maharashtra 26 of 1999, Section 42.] or be invested in public securities.(6)All such deposits and investments shall be made by the Commissioner on behalf of the Corporation with the sanction of the [Standing Committee] [These words were substituted for the words 'Mayor-in-Council' by Maharashtra 26 of 1999, Section 42.], and with the like sanction, the Commissioner may, at any time, withdraw any deposits so made or dispose of any securities and redeposit or reinvest the moneys so withdrawn or the proceeds of the disposal of the securities; but no order for making any such deposit or investment or withdrawal or disposal, shall have any validity, unless the same is in writing signed in the prescribed manner as for signing of cheques under section 81.(7)The loss, if any, arising from any such deposit or investment shall be debited to 'the Sewage and Water Fund'].
