Section 69 in Jammu and Kashmir Municipal Corporation Act, 2000
69. Constitution of Corporation Fund.
(1)Save as otherwise provided in this Act:-(a)all funds which, immediately before the declaration and constitution of the Corporation under sections 3 and 4 of this Act, vested in any body or local authority of the Municipal area or any part thereof, if any;(b)all money received by or on behalf of the Corporation under the provisions of this Act or any law for the time being in force or under any contract;(c)all proceeds of the disposal of the property by, or on behalf of the Corporation;(d)all rents accruing from any property of the Corporation;(e)all money raised by any tax, rate or cess levied for the purposes of this Act;(f)all fees collected and all fines levied under this Act or under any rule, regulation or bye-law made thereunder;(g)all money received by or on behalf of the Corporation from the Government or any individuals by way of grant or gift of deposit;(h)all interest and profits arising from any investment of, or from any transaction in connection with, any money belonging to the Corporation including loans and advances under this Act;(i)all money received by or on behalf of the Corporation from any other source whatsoever, shall from one Fund to be known as the Corporation Fund.(2)The Corporation Fund shall be held by the Corporation in trust for the purposed of this Act subject to the provisions herein contained and a general account relating to all moneys received by or on behalf of the Corporation shall be maintained.
