Vidhi Codex

section 37

Capital Region Development Fund & its Application

Chhattisgarh Capital Region Development Authority Act, 2025
General202553 of 57 sections available
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Statutory text
  1. (1) The Capital Region Development Authority shall manage and operate the Capital Region Development Fund to which shall be credited:_
    • (a) all the money received from the Government by way of revolving fund, grants, loans, advances or otherwise;
    • (b) all the money borrowed by the Capital Region Development Authority by way of loans or debentures;
    • (c) all the money received by the Capital Region Development Authority from the disposal of lands, buildings and other properties, movable and immovable;
    • (d) all development charges or other charges, fees received under this Act or rules or regulations made there under;
    • (e) contribution from Municipal Corporation and Municipalities;
    • (f) all the money earned from remunerative projects and schemes by way of rent or otherwise and disposal of its assets;
    • (g) sum of money received from projects implemented under Town Development Schemes;
    • (h) sum of money received by way of user charges;
      • (i) any other sum of money received by the Capital Region Development Authority from any other sources for performing its functions.
  2. (2) The Capital Region Development Fund shall be applied towards meetings;
    • (a) for the expenditure incurred in the administration of this Act;
    • (b) for the cost of land acquisition and areas mentioned under Town Development Schemes and development schemes undertaken by the Capital Region Development Authority for the purposes of ensuring planned development;
    • (c) any expenses incurred by the Capital Region Development Authority in connection with preparation of Development plans, undertaking surveys, studies, Investment plans and execution of projects and schemes;
    • (d) for maintaining sinking fund and other separate accounts required under the Act; and
    • (e) for the expenditure for such other purposes not inconsistent with this Act.
  3. (3) The Capital Region Development Authority may borrow money by way of loans, debentures or bonds or in any manner from any other source other than the Government.
  4. (4) The Capital Region Development Authority may accept grants, subventions, donations and gifts from the Central Government or local Authority or any individual or body whether incorporated or not, for all or any of the purposes of this Act on such terms and conditions as mutually agreed upon.
  5. (5) Loans, debentures and bonds issued under this Section may be guaranteed by the Government as to the repayment of the principal and the payment of interest at such rate as may be agreed upon.

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