Funds of Metropolitan Authority.

§20

Summary

(1) There shall be a fund for the Metropolitan Authority to be called Metropolitan Region Development Fund for that Region to which shall be credited all moneys received by the Authority, including- (a) a contribution to be made by the State Government of a sum of not less than rupees ten crores towards a revolving fund to be established by the Authority, in such instalments, as the State Government may determine in accordance with the schemes included in the State Plan and under appropriation duly made in this behalf, which contribution shall be utilised by the Authority for such planned development as the State Government may, from time to time, approve; (b) such other moneys as may be paid to the Authority by the State Government; (c) such moneys as may be paid to the Authority by the Union Government or any other authority or agency; (d) the sums placed at its disposal by the State Government from out of the proceeds of any cess levied under Chapter VI; (e) the proceeds of any betterment charge levied under Chapter VI; (f) all fees, costs and charges received by the Authority under this Act or any other law for the time being in force; (g) all money received by the Authority from the disposal of lands, buildings and other properties, moveable and immoveable, and other transactions; (h) all moneys borrowed by the Authority; (i) all moneys received by the Authority by way of rents and profits or in any other manner or from any other source. (2) The Metropolitan Authority may keep in current or deposit account with the State Bank of India or with any Nationalised, or with any other bank approved by the State Government in this behalf, such sum of money out of its fund as may be prescribed, and any money in excess of the said sum shall be invested in such manner as may be approved by the State Government. (3) Such accounts shall be operated upon by such officers of the Metropolitan Authority as may be authorized by regulation made in this behalf. (4) (a) Such Government lands free from encumbrances in the Metropolitan Region shall be made available by the State Government to the Authority on such terms and conditions as it may deem fit and Authority shall use those lands as resource to raise funds to provide infrastructure as per the approved Regional Plan or Development Plan applicable to that Region, for time being in force. (b) The Authority may also make an application under clause (c) of sub-section (1) of section 126 of the Maharashtra Regional and Town Planning Act.

(1) There shall be a fund for the Metropolitan Authority to be called Metropolitan Region Development Fund for that Region to which shall be credited all moneys received by the Authority, including- (a) a contribution to be made by the State Government of a sum of not less than rupees ten crores towards a revolving fund to be established by the Authority, in such instalments, as the State Government may determine in accordance with the schemes included in the State Plan and under appropriation duly made in this behalf, which contribution shall be utilised by the Authority for such planned development as the State Government may, from time to time, approve; (b) such other moneys as may be paid to the Authority by the State Government; (c) such moneys as may be paid to the Authority by the Union Government or any other authority or agency; (d) the sums placed at its disposal by the State Government from out of the proceeds of any cess levied under Chapter VI; (e) the proceeds of any betterment charge levied under Chapter VI; (f) all fees, costs and charges received by the Authority under this Act or any other law for the time being in force; (g) all money received by the Authority from the disposal of lands, buildings and other properties, moveable and immoveable, and other transactions; (h) all moneys borrowed by the Authority; (i) all moneys received by the Authority by way of rents and profits or in any other manner or from any other source. (2) The Metropolitan Authority may keep in current or deposit account with the State Bank of India or with any Nationalised, or with any other bank approved by the State Government in this behalf, such sum of money out of its fund as may be prescribed, and any money in excess of the said sum shall be invested in such manner as may be approved by the State Government. (3) Such accounts shall be operated upon by such officers of the Metropolitan Authority as may be authorized by regulation made in this behalf. (4) (a) Such Government lands free from encumbrances in the Metropolitan Region shall be made available by the State Government to the Authority on such terms and conditions as it may deem fit and Authority shall use those lands as resource to raise funds to provide infrastructure as per the approved Regional Plan or Development Plan applicable to that Region, for time being in force. (b) The Authority may also make an application under clause (c) of sub-section (1) of section 126 of the Maharashtra Regional and Town Planning Act.

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