Municipal Fund

25.(1) There shall be one Municipal Fund held by the Corporation in trust for the purpose of this Act to which all sums realised or realisable under this Act and all sums otherwise received by the Corporation shall be credited. (2) Unless the State Government otherwise directs, all sums received on account of the Municipal Fund shall be paid into a Government Treasury or into any Bank used as a Government Treasury and shall be credited to an account to be called the account of the Gangtok Municipal Corporation. (3) All sums from time to time credited to the Municipal Fund shall be applied in payment of all sums, charges and costs necessary for carrying out the purposes of this Act or of which payment is duly directed or sanctioned by or under any of the provisions of this Act or payment of which is directed or sanctioned by the Corporation with the approval of the State Government.