Section 77(1) in West Bengal Municipal Corporation Act, 2006
(1)All moneys paid into a Sinking Fund shall, as soon as possible, be invested by the Corporation in-(a)Government securities, or(b)securities guaranteed by the Central Government or any State Government, or(c)debentures issued by the Corporation, or(d)debentures issued, if any, by a development authority, if any, within the jurisdiction of the Corporation, or(e)any public security approved by the State Government and held by the Corporation for the purpose of repaying from time to time the loans raised by it by the issue of debentures or otherwise.
