Section 147 in The Orissa Municipal Corporation Act, 2003
147. Corporation fund.
(1)There shall be a fund called, the Corporation Fund, to be held by the Corporation in trust for the purpose of this Act and all money realised or realisable under this Act and all moneys otherwise received by the Corporation shall be credited thereto.(2)The Corporation Fund shall be maintained in the following five accounts, namely :-(a)the Water Supply, the Sewerage and the Drainage Account,(b)the Road Development and Maintenance Account,(c)the Bustee Services Account,(d)the Commercial Projects Account, and(e)the General Account which shall relates to all money received by, or on behalf of the Corporation, other than those specified in clause (a), (b), (c) or (d).Explanation. - For the purpose of this Section, the "Commercial Projects" shall include Corporation Markets, Market Development Projects, Property Development Projects and such projects of a commercial nature as may be specified by the Corporation from time to time.(3)All moneys realised on different accounts referred to in Sub-section (2) shall forthwith be deposited with the State Bank of India or with any other Nationalised Bank or any other Bank within the Corporation area as may be approved by the Government in this behalf for credit to the respective heads of accounts, namely :-(a)the Water Supply, the Sewerage and Drainage Account of the Corporation fund of the respective Corporation;(b)the Road Development and Maintenance Account of the Corporation Fund of the respective Corporation;(c)the Bustee Service Accounts of the Corporation Fund of the respective Corporation;(d)the Commercial Projects Accounts of the respective Corporation Fund of the Corporation; and(e)the General Account of the Corporation Fund of the respective Corporation.
