Primary Educational Fund :- There shall be constituted for each

Municipality a Primary Education Fund to which shall be credited—

1. (1) the proceeds of any tax levied within the jurisdiction of such municipality under the provisions of this chapter;
2. (2) an annual contribution from the general funds of the municipality not being less than a minimum fixed by the State Government on that behalf;
3. (3) such additional contribution from the general funds of the municipality as the State Government may decide to be necessary in any year in order to balance the budget of the fund for the year;
4. (4) all sums granted to the municipality by the State Government for the benefit of primary education;
5. (5) allincome derived from endowments or other property owned or managed by the municipality for the benefit of primary education;
6. (6) all other sums of money which may be contributed or received by the municipality for the purpose of this chapter.