Section 85(1) in The Orissa Town Planning and Improvement Trust Act, 1956
(1)The Municipal Council shall pay from the Municipal Fund to the Planning authority concerned on the first day of each half year, so long as such authority continued to exist, a sum equivalent to one per cent per quarter on the annual rateable valuation determined under Chapter XIII of the Orissa Municipal Act, XXIII of 1950, in respect of the local area as the said annual rateable valuation stood on the first day of the last preceding quarter:Provided that if this Act comes into force in the Municipality during a quarter, the amount of the first of such payments shall bear such proportion to the sum payable hereunder as the unexpired portion of that quarter bears to the whole quarter.
