State Act

The Mumbai Municipal Corporation Act.

1[125. Estimate of expenditure and income to be prepared annually by the 2[Commissioner].— 3[The Commissioner] shall on or before each 4[fifth day of February,] have prepared and lay before 5[the Standing Committee, in such form as the said Committee] shall from time to time approve, (1) (a) an estimate of the expenditure which must or should, in his opinion be incurred by the corporation in the next ensuing Official Year, other than— 6[* * * * * *] (ii) expenditure to be incurred by reason of the obligations imposed on the corporation arising out of the transfer to the corporation of the powers, duties, assets and liabilities of the Board of Trustees for the improvement of the City of Bombay constituted under the City of Bombay Improvement Trust Transfer Act, 1925 (Bom. XVI of 1925) 7[or for any of the purposes of Chapter XII-A]; and (iii) expenditure to be incurred on account of the 8[Brihan Mumbai Electric Supply and Transport Undertaking]; 9[(iv) expenditure to be incurred for the purposes of clause (q) of section 61;] 10[(v) expenditure to be incurred for the purposes of Chapters IX and X;] (b) an estimate of the balances, if any (other than balances) shown in the 11[accounts maintained under sections 12[123A 13[* *] and 123C] ] which will be available for re-appropriation or expenditure at the commencement of the next ensuing official year; (c) an estimate of the corporation’s receipts and income for the next ensuing official year other than from taxation 14[and from the 15[Brihan Mumbai Electric Supply and Transport Undertaking] and other than that referred to 16[* * *] in clause (c) of sub-section (2) 17[and in clause (d) of section 126C] 18[and in section 126E]; 19[(cc) an estimate of the amount due to be transferred during the next ensuing official year to the municipal fund under the provisions of sections 460KK and 460LL;] (d) a statement of proposals as to the taxation which it will, in his opinion, be necessary or expedient to impose under the provisions of this Act in the next ensuing official year; 20[* * * * * *] (2) (a) an estimate of the expenditure which must or should, in his opinion, be incurred by the corporation in the next ensuing official year by reason of the obligations imposed upon the corporation arising out of the transfer to the corporation of the powers, duties, assets and liabilities of the Board of Trustees for the Improvement of the City of Bombay constituted under the City of Bombay Improvement Trust Transfer Act, 1925 (Bom. XVI of 1925) 1[or for any of the purposes of Chapter XII-A]; (b) an estimate of all balances, if any in the account maintained under section 122A, which will be available for re-appropriation or expenditure at the commencement of the next ensuing official year; (c) an estimate of the corporation’s receipts and income for the next ensuing official year— (i) arising from sales, leases and other dispositions of immovable property vesting in the corporation by reason of the enactment of the City of Bombay Municipal (Amendment) Act, 1933 (Bom. XIII of 1933) 2[or acquired by the Corporation for any of the purposes of Chapter XII-A]; and (ii) being payments of interest on and repayments in whole or part of the capital of loans granted by the corporation and secured on the aforesaid immovable property; (d) an estimate of three times the amount of the net estimated realisations of the corporation in the then current financial year under the head of general tax (including arrears and payments in advance) divided by the rate fixed for general tax for the then current financial year; 3[* * * * * *] 4[Provided further that, with effect from the financial year 1974-75, this sub-clause shall have effect as if for the words “three-times” the word “twice” was substituted;] 5[(e) an estimate of the Corporation’s receipts and income, other than receipts and income referred to in other clauses of this sub-section arising from or relating to, transaction connected with the obligations imposed upon the Corporation by the transfer to the Corporation of the powers, duties, assets and liabilities of the said Board of Trustees or with the exercise of the powers and duties conferred or imposed upon the Corporation by Chapter XII-A including grants from the State Government.]