Constitution of the proceeds of drainage cess into a fund and its administration and application

(1) The proceeds of the drainage cess levied and collected under this Act, reduced by the cost of collection as determined by the Government, shall after due appropriation made by the Legislative Assembly of the State by law, be constituted into a fund to be called the "Krishna, Godavari and Pennar Delta Drainage Cess Fund". (2) In addition to the proceeds referred to in sub-section (1) any moneys received from the State or Central Government or any other source for the purposes of this Act, shall be credited to the Fund. (3) The Fund shall vest in, and be administered by, the Board in such manner as may be prescribed. (4) The Fund, in so far as it relates to the proceeds of the drainage cess levied and collected in a Division, shall be applied towards meeting the cost of the drainage schemes which the Board may, with the concurrence of the Government, undertake in that division. The expenses of the Board and its Committees shall also be met out of the Fund: Provided that it shall not be necessary to obtain the concurrence of the Government as aforesaid in respect of such class of drainage schemes as may be prescribed: Provided further that the expenditure incurred by the Board to any purpose common to all or any of the divisions shall be apportioned among the divisions concerned in such manner as may be prescribed.