Funds of the Board

(1) The Board shall have a Fund to be called the State Property Tax Board fund to which shall be credited,-

1. (a) such money as may be paid to the Board by the municipalities and other local authorities under section 102L; and
2. (b) such money as may be paid to the Board by the State Government or any other authority or agency.

1. (2) All money received by the Board shall be deposited in one or more nationalized banks as may be prescribed.