Section 108(3) in The Chhattisgarh Municipalities Act, 1961
(3)A Council may, from time to time with the previous sanction of the State Government, invest any portion of its Municipal Fund in securities of the Government of India or in such other securities, including fixed deposits in banks, as the State Government may approve in this behalf, and may vary such investments for others of the like nature; and the income resulting from the securities and proceeds of the sale of the same shall be credited to the Municipal fund.
