Section 503(3)(d) in Karnataka Municipal Corporations Act, 1976
(d)the unexpended balance of the municipal fund and the property (including arrears of rates, taxes and fees), belonging to the said [larger urban area] [Substituted by Act 35 of 1994 w.e.f. 1.6.1994.] municipal council and all rights and powers which prior to the said declaration vested in the [larger urban area] [Substituted by Act 35 of 1994 w.e.f. 1.6.1994.] municipal council shall, subject to all charges and liabilities affecting the same, vest in the corporation as the corporation fund;