Section 116 in The Orissa Town Planning and Improvement Trust Act, 1956
116. Application of capital accounts.
- The moneys credited to the capital account shall be held by the Planning authority in trust, and shall be applied to -(a)meeting all costs of framing and executing improvement scheme and re-housing scheme;(b)meeting the cost of acquiring land for carrying out any of the purposes of this Act;(c)meeting the cost of constructing buildings and executing work required for carrying out any of the purposes of this Act;(d)all re-payments of loans from money borrowed in pursuance of this Act:(e)making, or contributing towards the cost of making survey in pursuance of Section 146;(f)meeting such proportion of the cost of management as the Planning authority may, with the sanction of the State Government permit in this behalf; and(g)temporarily making good in the deficit (if any) in the revenue account at the end of any financial year.
