Section 90A(4) in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
(4)Any money of the Project Fund, not used or not immediately to be used in accordance with sub-section (3), shall be invested by the Chief Officer, on behalf of the Council, with the sanction of the Standing Committee in any Nationalized Bank, in such manner as he deems fit and proper.
