76. Municipal fund ordinarily liable for all costs and expenses incurred by municipal councils.
(1)Except as herein otherwise provided, no president or councillor shall be personally liable in respect of any contract or agreement made, or for any expense incurred by or on behalf of, the municipal council; the municipal fund shall be liable for and be charged with all costs in respect of any such contract or agreement and all such expenses.(2)Without prejudice to any other action under this Act or any other law, the president, the vice-president and every councillor, the Municipal Commissioner, the Chief Officer or other employee of the municipal council, shall be liable for the loss, waste or misapplication, if such loss, waste or misapplication of any money or other property owned by or vested in the municipal council is a direct consequence of his neglect or has been caused or facilitated by his misconduct.
