Acquisition of property by Municipality by agreement, exchange, lease, grant etc.

(1) The municipality may, on such terms and conditions as may be approved by it, acquire by agreement – (a) any immovable property, and (b) any easement affecting immovable property. (2) The municipality may also acquire any property by exchange on such terms and conditions as may be approved by it. (3) The municipality may also hire or take on lease immovable property on such terms and conditions as may be approved by it. (4) The municipality may receive any grant or dedication by donor, whether in the form of any income or any movable or immovable property, by which the municipality may be benefitted in the performance of any of its functions. (5) It shall be lawful for the municipality to be the beneficiary of any trust created under the Charitable and Religious Trusts Act, 1920, or the Indian Trusts Act, 1882.