(4)None of these investments, other than those made out of the general balance, should be deposited of except for the specific purpose for which they may have been mad£. If any investments are made under the orders of Government, they should not be disposed of without the sanction of Government. No portion of the general balance of a municipality can be invested without the special sanction of the Government who will decide as to the necessity for investment in each instance with reference to the general principle that such investments are permissible in the following cases only :(a)What it is proposed to create sinking funds for the payment of debt;(b)When some large project is in contemplation for which it may be desirable gradually to save and invest a part of the proceeds of ordinary taxation;(c)When no large project is in contemplation and the fund happens to receive a large windfall from some other source than taxation and the municipality has no particular object to which it can be immediately applied.Loan Register
