Section 354Q(3) in The Mumbai Municipal Corporation Act, 1888
(3)Any building constructed under this section shall with the site be held by [the [State] [The words 'the Provincial Government' was substituted for the word 'Government' by the Adaptation of Indian Laws Order in Council.] Government] for police purposes for a term of sixty years from the date of the completion of the building, and [the [State] [The words 'the Provincial Government' was substituted for the word 'Government' by the Adaptation of Indian Laws Order in Council.] Government] shall, during this said period, pay yearly to the corporation by way of rent a sum equal to the total of-(a)the annual interest payable by the corporation on all moneys, which they have spent on the scheme, and(b)sinking fund charges so calculated that at the end of the said period the aggregate in the sinking fund shall amount to the total sum spent on the scheme, such total sum shall include(i)all moneys spent on interest and sinking fund charges up to the date of the commencement of the said period;(ii)if and so far as the land included in the scheme is not part of the land specified in Schedule W the cost of such land;(iii)preliminary expenses and an allowance for management and supervision up to the date of the commencement of the said period.
