State Act

THE ORISSA TOWN PLANNING & IMPROVEMENT TRUST ACT, 1956

118 - Application of revenue account :- The moneys credited to the Revenue account shall be held by the Planning authority in Trust, and shall be applied to- (a) meeting all charges for interest and sinking fund due on account of any loan taken in pursuance of this Act and all other charges incurred in connection with such loans; (b) paying all sums due from the Planning authority in respect of rates and taxes imposed under the Orissa Municipal Act, XXIII of 1950 upon land vested in the said authority; (c) paying the cost (if any) of maintaining a separate establishment for the collection of the rents and other proceeds of land vested in the Planning authority; (d) paying the cost of management, excluding such portion thereof as may be debited to the capital account under clause (g) of Section 116; (e) paying all other sums, due from the Planning authority other than those which are required by Section 116 to be disbursed from the capital account.