Payment to be made by district local board and non-authorised municipality

(1) Every district local board shall pay over annually to the district school board for the purposes of primary education such portion of its income from its revenue described in clauses (b) and (c) of section 75 of the Bombay Local Boards Act, 1923, as the State Government may from time to time fix in this behalf. (2) Every non-authorised municipality shall pay over annually to the district school board or the authorized municipality, as the case may be, for the puroses of primary education such proportion of the rateable value of properties in the area of the municipality as may from time to time be fixed in this behalf by the State Government and the income accruing form any funds (including trust funds) held, and all moneys received by it for the said purposes.