Section 25 in Jammu and Kashmir Metropolitan Region Development Authorities Act, 2018
25. Metropolitan Region Development Fund.
(1)There shall be a fund for the Authority to be called Metropolitan Region Development Fund for that Region to which shall be credited all moneys received by the Authority, including,-(a)a contribution to be made by the Government of a sum of not less than rupees hundred crores towards a revolving fund to be established by the Authority, in such instalments not exceeding four, as the Government may determine in consultation with the Authority ;(b)such other monies as may be paid to the Authority by the Government ;(c)such monies as may be paid to the Authority by the Union Government or any other authority or agency ;(d)the sums collected on account of any duty or cess levied under Chapter VI ;(e)the proceeds of any betterment charge levied under Chapter VI ;(f)all fees, costs and charges received by the Authority under this Act or any other law for the time being in force ;(g)all monies received by the Authority from the disposal of lands, buildings and other properties, moveable and immoveable, and other transactions ;(h)all monies borrowed by the Authority ; and(i)all monies received by the Authority by way of rents and profits or in any other manner or from any other source.(2)The Authority may keep in current or deposit account with the Jammu and Kashmir Bank Ltd. or with any Nationalised Bank, or with any other bank approved by the Government in this behalf, such sum of money out of its fund as may be prescribed, and any money in excess of the said sum shall be invested in such manner as may be approved by the Government.(3)Such accounts shall be operated upon by such officers of the Authority as may be authorized by regulation made in this behalf.(4)Government lands free from encumbrances in the Metropolitan Region shall be made available by the Government to the Authority on such terms and conditions as the Government may deem fit and the Authority shall use those lands as resource to raise funds to provide infrastructure as per the approved Infrastructure Development Plan for that Region.
