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

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

1. (1) The Board of Councillors may, on such terms and conditions as may be approved by it, acquire by agreement-
   • (a) any immovable property,
   • (b) any easement affecting immovable property.
2. (2) The Board of Councillors may also acquire a property by exchange on such terms and conditions as may be approved by it.
3. (3) The Board of Councillors may also hire or take on lease immovable property on such terms and conditions as may be approved by it from time to time.
4. (4) The Board of Councillors may receive, on behalf of the Municipality, any grant or dedication by donor, whether in the form of any income or any movable or immovable property, by which any obligatory or discretionary function of the Municipality may be benefited.
5. (5) It shall be lawful for the Municipality to be the beneficiary of any trust created under the Charitable and Religious Trusts Act, 1920 (14 of 1920), or the Indian Trusts Act, 1882 (2 of 1882).