Section 126(2) in The Mumbai Municipal Corporation Act, 1888
(2)In budget estimate 'A' the [Standing Committee] [These words were substituted by Maharashtra 27 of 1999, Section 58, (w.e.f. 23-4-1999).] -(a)propose with reference to the provisions of Chapter VIII, the levy of municipal taxes at such rates, [***] [Deleted 'and in the case of octroi on such articles' by Maharashtra Act No. 42 of 2017, dated 29.5.2017.] as they shall think fit.(b)provide for the payment, as they fall due, of all sums and of all instalments of principal and interest for which the Corporation may be liable under this Act other than sums and instalments as aforesaid (i) for which the Corporation but for the enactment of the City of Bombay Municipal (Amendment) Act, 1933, would not have been liable and (ii) for which the Corporation may be liable, in carrying out the duties imposed upon them by clause (r) of section 61, [and (iii) for which the Corporation may be liable by reason of the acquisition, extension, administration, operation and maintenance of the [Brihan Mumbai Electric Supply and Transport Undertaking] [This portion was added by Bombay 4 of 1948, Section 28.];] [* * * *] [Sub-clause (iv) was deleted by Maharashtra 1 of 1964, Section 6(b)(i).] [(v) for which the Corporation may be liable by reason of the construction or school buildings;] [This portion was added by Bombay 48 of 1950, Section 56(2).](c)allow for an appropriation to budget estimate 'B' of the sum estimated revised as they shall think proper, under clause (d) of sub-section (2) of section 125;(c1)[* * * * * * *] [Clause (c1) was deleted by Maharashtra 1 of 1964, Section 6(d)(ii).](c2)[ allow for appropriation to budget estimate 'E' of the sum estimated, revised as they shall think proper, under clause (c) of section 126C [and such additional sum estimated under clause (c1) of that section and revised, as they shall think proper] [Clause (c2) was inserted by Bombay 48 of 1950, Section 56(2).];](d)allow for a cash balance at the end of the said year of not less than one lakh of rupees.
