Section 29 in Karnataka Urban Water Supply and Drainage Board Act, 1973
29. Board's fund.
(1)The Board shall have its own fund.(2)The Board may accept loans, grants, subventions, donations and gifts from the Central Government or State Government or a local authority or any individual or body or organization whether incorporated or not, for all or any of the purposes of this Act.(3)All moneys received by or on behalf of the Board by virtue of this Act, all proceeds of land or any other kind of property sold by the Board, all charges, all interests, profits and other moneys accruing to the Board shall constitute the fund of the Board.(4)All moneys and receipts specified in the foregoing provisions and forming part of the fund of the Board shall be deposited into the public accounts of the Government under such detailed head of accounts as may be prescribed or in,-(a)the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (Central Act 12 of 1934); or(b)the State Bank of India constituted under the State Bank of India Act, 1955 (Central Act 23 of 1955); or(bb)[ any Scheduled Bank ; or] [Inserted by Act 20 of 1977 w.e.f. 29.7.1977.](c)any corresponding new bank as defined in the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970 (Central Act 5 of 1970) and the said account shall be operated upon by such officers of the Board as may be authorized by the Board and in such manner as may be prescribed:Provided that the Board may invest any sums not required for immediate use in such securities or debentures as may be approved by the Government.
