Section 65(3) in The Gujarat Municipalities Act, 1963
(3)In the case-(a)Sanction by resolution at general meeting requisite to validity of certain contracts:-Of a lease for a period exceeding one year or of a sale or other transfer of immovable property the market value of which does not exceed one lakh of rupees or contract for the purchase of any immovable property;(b)of every contract which will involve expenditure not covered by a budget grant;(c)of every contract the performance of which cannot be completed within the official year current at the date of the contract;the sanction of the municipality by a resolution passed at a general meeting is required.
