(1) The Authority shall have and maintain its own fund to which shall be credited -
(a) an initial corpus of such sum, as may be determined and provided by the State Government;
(b) all moneys received or due to be received, prior to the commencement of the Act by the State Government and unspent at the time of commencement of this Act on account of proportionate development charges for external development work in the notified area, payable by the owner granted a licence under the Haryana Development and Regulation of Urban Areas Act, 1975 (8 of 1975);
(c) all moneys received or due to be received, prior to the commencement of this Act by the State Government and unspent at the time of commencement of this Act on account of infrastructure development charges levied, in the notified area, under sub-section (1) of section 3A of the Haryana Development and Regulation of Urban Areas Act, 1975 (8 of 1975) and payable by the owner granted a licence under the said Act;
(d) such share of moneys collected by the Municipal Corporation, Panchkula prior to the commencement of this Act and deposited with the State Government, as the State Government may determine;
HARYANA GOVT. GAZ. (EXTRA.), SEPT. 9, 2021 (BHDR. 18, 1943 SAKA) 207
(e) all moneys received by the Authority from the Central Government or the State Government or the Municipal Corporation, Panchkula by way of grants, loans, advances or otherwise;
(f) all moneys borrowed by the Authority from sources other than State Government, by way of loans or debentures;
(g) all fees, charges or levies received by the Authority under this Act;
(h) all moneys received by the Authority from the disposal of property, moveable and immoveable; and
(i) all moneys received by the Authority by way of rents and profits or in any other manner or from any other source.
(2) The fund shall be applied towards meeting expenditure–
(a) in infrastructure development, provision of urban amenities, mobility management, sustainable management of the urban environment and social, economic and industrial development in the notified area;
(b) in operation and maintenance of assets created for purposes of infrastructure development, provision of urban amenities, mobility management, sustainable management of the urban environment and social, economic and industrial development in the notified area;
(c) salaries and allowances of the Chief Executive Officer, other officers and employees of the Authority;
(d) in the administration of the Act;
(e) for acquisition of land for purposes of this Act;
(f) in joint ventures and limited liability partnerships for infrastructure development, provision of urban amenities, mobility management, sustainable management of the urban environment and social, economic and industrial development in the notified area;
(g) on redevelopment and urban renewal in the notified area;
(h) for such purposes in the exercise of powers or performance of functions under this Act, as the Authority may approve or the State Government may direct or permit.
34. The State Government may make to the Authority grants, loans or advances of such sums of money annually, as the State Government may deem necessary and all grants, loans or advances so made shall be on such terms and conditions, as the State Government may determine.
Annual grants, loans and advances to Authority.
35. The Authority may, from time to time, borrow money by way of loans, bonds or debentures or other instruments from sources other than the State Government, on such terms and conditions, general or specific, as may be approved by the State Government.
Power of Authority to borrow.