Section 108 in West Bengal Town and Country (Planning and Development) Act, 1979
108. Fund of the [Kolkata] [Substituted by Section 5 of the West Bengal Capital City (Change of Name) Act, 2001 (West Bengal Act No. 18 of 2001) (w.r.e.f. 1.1.2001) for "Calcutta"] Metropolitan Development Authority.
(1)There shall be a fund for the [Kolkata] [Substituted by Section 5 of the West Bengal Capital City (Change of Name) Act, 2001 (West Bengal Act No. 18 of 2001) (w.r.e.f. 1.1.2001) for "Calcutta"] Metropolitan Development Authority to rich shall be credited -(a)such moneys as may be paid to it by the State Government under the Taxes on Entry of Goods into [Kolkata] [Substituted by Section 5 of the West Bengal Capital City (Change of Name) Act, 2001 (West Bengal Act No. 18 of 2001) (w.r.e.f. 1.1.2001) for "Calcutta"] Metropolitan Area Act, 1972 (West Bengal Act No. 5 of 1972);(b)all moneys borrowed by it;(c)such other moneys as may be received by it from the State Government or from any other authority or source.(2)The [Kolkata] [Substituted by Section 5 of the West Bengal Capital City (Change of Name) Act, 2001 (West Bengal Act No. 18 of 2001) (w.r.e.f. 1.1.2001) for "Calcutta"] Metropolitan Development Authority shall maintain a sinking fund id for the repayment of money borrowed by it, and shall every year deposit in D the said fund such moneys as may be paid to it by the State Government under the Taxes on Entry of Goods into [Kolkata] [Substituted by Section 5 of the West Bengal Capital City (Change of Name) Act, 2001 (West Bengal Act No. 18 of 2001) (w.r.e.f. 1.1.2001) for "Calcutta"] Metropolitan Area Act, 1972.(3)The money paid into the sinking fund shall be invested in such manner and in such Securities as may be prescribed.(4)The sinking fund or any part thereof shall be applied in, or towards, the discharge of the loan or part thereof for which such fund was created, and until such loan or part thereof is wholly discharged, the money standing to the credit of the fund shall be applied for no other purpose.
