Section 118 in The Orissa Town Planning and Improvement Trust Act, 1956
118. Application of revenue account.
- The moneys credited to the Revenue account shall be held by the Planning authority 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 this Act and all other charges incurred in connection with such loans;(b)paying all sums due from the Planning authority in respect of rates and taxes imposed under the Orissa Municipal Act, XXIII of 1950 upon land vested in the said authority;(c)paying the cost (if any) of maintaining a separate establishment for the collection of the rents and other proceeds of land vested in the Planning authority;(d)paying the cost of management, excluding such portion thereof as may be debited to the capital account under clause (g) of Section 116;(e)paying all other sums, due from the Planning authority other than those which are required by Section 116 to be disbursed from the capital account.
