(1) The Authority may invest any portion of its funds in such investments, as may be specified by regulations.
(2) The Authority may, with the prior approval of the State Government, invest in establishment of joint venture companies and limited liability partnerships for infrastructure development and provision of urban amenities, mobility management, sustainable management of the urban environment and social, economic and industrial development in the notified area.
Power of Authority to invest.
37. All payments by the Authority on account of interest on loans or the repayment of loans shall be made on priority to all other dues of the Authority.
Priority of payment for interest and repayment of loans.
38. All properties, funds and other assets vesting in the Authority shall be held and applied by it for the purposes and subject to the provisions of this Act.
Application of Funds.
208 HARYANA GOVT. GAZ. (EXTRA.), SEPT. 9, 2021 (BHDR. 18, 1943 SAKA) Budget. 39. (1) The Chief Executive Officer shall submit, in such form and at such time every year, as may be prescribed, a budget in respect of the financial year next ensuing, showing the estimated receipts and disbursements of the Authority.
(2) The Authority shall, subject to such modifications and revisions as it may decide, approve the budget submitted under sub-section (1).
(3) The budget as modified or revised by the Authority shall be forwarded to the State Government alongwith such number of authenticated copies, as may be required by the State Government and the State Government shall cause the report to be laid before the State Legislature.
(4) The Chief Executive Officer shall cause the budget as modified or revised by the Authority, to be placed on the website of the Authority after the report has been laid before the State Legislature under sub-section (3).
Accounts and audit.