Section 24A in Bangalore Water Supply and Sewerage Act, 1964
24A. [ Improvement reserve. [Inserted by Act 6 of 1966 w.e.f. 10.9.1964.]
- The Board shall create a reserve for improvement works and shall, at the end of every year, credit to such reserve from its revenue such percentage of the balance remaining after meeting its operating, maintenance and management expenses and after adequate provision is made for depreciation, taxes, interest and amortization payments on loans and other borrowings as the Board may determine, taking into consideration the improvement works which the Board will have to execute in order to provide adequate water supply and sewage disposal services in the Bangalore Metropolitan Area.]
