State Act

The Mumbai Municipal Corporation Act.

126D. Budget estimate “E” to be prepared by 3[Educational Committee].— (1) The 4[Education Committee] shall on or as soon as may be after each 5[fifth day of February] consider the estimates of 6[the Commissioner] and after having obtained 7[from the Commissioner] such further information, if any, as they shall think fit to require and having regard to all the requirements of this Act, shall frame therefrom, subject to such modifications and additions therein or thereto as they think fit, a budget estimate to be called budget estimate “E” of the income and expenditure to be received and incurred for purposes of clause (q) of section 61. (2) In budget estimate “E” 8[the Education Committee] shall— (a) provide for payment as they fall due of all sums and of all instalments of principal and interest for which the Corporation may be liable under this Act by reason of the construction of school buildings, and (b) allow for a cash balance at the end of the said year of not less than twenty thousand rupees. 9[(3) The Education Committee shall forward the budget estimate ‘E’ as framed by them to the Standing Committee on or before each first day of March and the Standing Committee shall prepare a report to the Corporation thereon incorporating the remarks and recommendations, if any, of the Standing Committee.] (4) 10[The Municipal Secretary shall forward a printed or corrected copy of budget estimate ‘E’ together with the report of the Standing Committee thereon] to the usual or last known local place of abode of each Councillor in time for the meeting of the Corporation mentioned in section 127].