Section 25 in The Himachal Pradesh Housing and Urban Development Authority Act, 2004
25. Funds of Authority.
(1)The Authority shall have its own fund.(2)The Authority may accept grants, subsidies and donations from the Central or the State Governments or a Local Authority or any individual or body, whether incorporated or not, for all or any of the purposes of this Act.(3)The State Government may give such grants, as it may consider necessary, to the Authority.(4)All money received by or on behalf of the Authority by virtue of this Act, all proceeds of land or any other kind of property sold by the Authority, all rents and interests, profits and other money accruing to the Authority including the loans raised by it shall constitute the fund of the Authority.(5)Except as otherwise directed by the State Government, all money and receipts specified in this section and forming part of the fund of the Authority shall be deposited in any Nationalized Bank or any other Bank having National Computerised network or Himachal Pradesh State Co-operative Bank or invested in such securities as may be approved by the State Government.(6)Such account shall be operated upon by such officers, as may be authorised by the Authority.
