State Act

THE ORISSA TOWN PLANNING & IMPROVEMENT TRUST ACT, 1956

116 - Application of capital accounts :- The moneys credited to the capital account shall be held by the Planning authority in trust, and shall be applied to- (a) meeting all costs of framing and executing improvement scheme and re-housing scheme; (b) meeting the cost of acquiring land for carrying out any of the purposes of this Act; (c) meeting the cost of constructing buildings and executing work required for carrying out any of the purposes of this Act; (d) all re-payments of loans from money borrowed in pursuance of this Act; (e) making, or contributing towards the cost of making survey in pursuance of Section 146; (f) meeting such proportion of the cost of management as the Planning authority may, with the sanction of the State Government permit in this behalf; and (g) temporarily making good in the deficit (if any) in the revenue account at the end of any financial year.