Section 24(1) in Bangalore Water Supply and Sewerage Act, 1964
(1)The Board shall create a depreciation reserve and, [x x x] [Omitted by Act 6 of 1966 w.e.f. 17.3.1966.] shall, at the end of every year, credit to such reserve from its revenue, such amount as would if made annually throughout the preserved period of assets specified in the Table appended to the Schedule to this Act and accumulated at compound interest at the rate of three per cent per annum produce by the end of the prescribed period an amount equal to ninety per cent of the original cost of the assets after taking into account the sums already written off and set aside in the books of the Board.
