Section 21 in Assam State Capital Region Development Authority Act, 2017
21. Funds of the Authority.
(1)There shall be a fund for the Metropolitan Authority to be called "Assam State Capital Region Development Fund" to which shall be credited all moneys received by the Authority, including, -(a)the contribution to be made by the State Government of a sum of not less than Rs 100 crore (Rupees one hundred crores) towards a revolving fund to be established by the Authority, in such instalments, as the State Government may determine in accordance with the schemes included in the State Plan and under appropriation duly made in this behalf, which contribution shall be utilized by the Authority for such planned development as the State Government may, from time to time, approve;(b)such other moneys as may be paid to the Authority by the State Government;(c)such moneys as may be paid to the Authority by the Central Government or any other authority or agency;(d)the sums placed at its disposal by the State Government from out the proceeds of any cess levied under this Act;(e)the proceeds of any betterment charge levied under this Act;(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 money received by the Authority from the disposal of lands, buildings and other properties, movable and immovable, and other transactions;(h)all moneys borrowed by the Authority;(i)all money received by the Authority by way of rents and profits or in any other manner from any other source.(2)The State Government shall, every year, make a grant to the Authority of a sum equivalent to the administrative expenses of the Authority till the Authority is able to meet its administrative expenses out of its own sources;(3)The Authority may keep in current or deposit account with the State Bank of c India or with any Scheduled Bank as defined in the Reserve Bank of India Act, 1934, Central Act No 2 of 1934 which holds a license Issued by the Reserve Bank of India under section 22 of the Banking regulation Act 1949 (Central Act No. 10 of 1949), or with any other bank approved by the State 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 State Government.(4)Such accounts shall be operated upon by such officers of the Authority as may be authorized by it by regulation made in this behalf.
