(3)For financial investment from the Municipal Fund, either in any business proposed to be r.'one by the Municipality alone or in the Joint Venture or Partnership Business mentioned in sub-section (1), existence of one of the following conditions shall be mandatory :-(a)the Municipality shall not have any deficit budget in the three preceding consecutive financial years; or(b)the Municipality shall be sure of earning profit from such Joint Venture or Partnership Business before completion of one year from the date of entering into such venture or business; or(c)the fund is required to be used for saving a certain Municipal Property, and the Board of Councilors is sure of earning profit within a period of five years from the date of such investment.
