Section 90B(3) in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
(3)All moneys payable to the credit of the Water and Sewage Fund shall be received by the Chief Officer on behalf of the Council and forthwith paid by him into the Nationalized Bank, approved by the Standing Committee from time to time in this behalf, to the credit of account, which shall be styled "the Account of the Water and Sewage' Fund of _______________________ Municipal Council":Provided that, the Chief Officer may retain such balance in cash as may be necessary for the purposes of Chapters XIII and XIV.
