State Act

The Mumbai Municipal Corporation Act.

111. Constitution of the municipal fund.— 1[Subject to the provisions of sections 2[119A, 119B], 120, 120A and 460Z] all moneys received by or on behalf of the Corporation under the provisions of this Act or any other enactment at the time in force, or under any contract:— all proceeds or the disposal of property by, or on behalf of, the corporation, all rents accuring from any property of the corporation, all moneys raised by any tax, levied for the purposes of this Act, all fees and fines payable and levied under this Act or under any rule, regulation or by-law in force thereunder 3[other than fines imposed by a court], 4[the balance, after all necessary contingent expenses have been defrayed, of all fees] for licences for public conveyances granted by the Police Commissioner under 5[the Bombay Police Conveyances Act, 1920 (Bom. VII of 1920)], 6[the balance, after all necessary contingent expenses have been defrayed, of all fees for licences for the playing of music in streets and public places granted under paragraph (ii) of clause (f) of section 22 of the City of Bombay Police Act, 1902 (Bom. IV of 1902)], 7[* * * * * *] all moneys received by or on behalf of the corporation 8[from any Government] or private individuals by way of grant or gift or deposit, and all interest and profits arising from any investment of, or from any transaction in connection with any money, belonging to the corporation, 9[including loans advanced under section 354W, 10[354WA or 354 WB] ], shall be credited to a fund, which shall be called “the municipal fund” and which shall be held by the corporation in trust for the purposes of this Act, subject to the provisions herein contained. 11[* * * * * *]