General principles for Board’s finance.

2[(1) For carrying on its operations under this Act, the Board shall levy rates, fees, rentals, prorata charges, deposits, taxes, and other charges and shall vary such rates, fees, rentals, prorata charges, deposits, taxes and other charges from time to time in order to provide sufficient revenue,-

1. (a) to cover operating expenses, taxes, interest payments and to provide for adequate maintenance and depreciation, contribution to pension fund including all expenses incurred during the year;
2. (b) to meet repayment of loans and other borrowings;
3. (c) to finance year to year improvement; and
4. (d) to provide for such other purposes beneficial to the promotion of water supply and disposal of sewage in the Bangalore Metropolitan area as the Board may determine.]

1. (2) No part of the revenues of the Board, after meeting the expenses referred to in clauses (a), (b) and (c) of sub-section (1) shall be used to augment the reserves of the Board other than the reserves referred to in sections 24 and 24-A or for the general purposes of the Board including expenses in connection with capital works, other than improvement works.] 1. Subsection 1 and 2 Substituted by Act 6 of 1966 w.e.f. 10.9.1964.

² Substituted by Act 15 of 2010 w.e.f. 16.04.2010.