(1) The committee shall, for a period of five years from the date of constitution of the trust, constituted before or after the commencement of this Act, concerned with the improvement of a locality within the limits of the committee, pay to it an amount per annum equal to two per cent of the gross annual income of such committee.
(2) In case of dispute as to what is the gross annual income of a municipality, the matter shall be referred to the State Government, whose decision shall be final.
75. In places where there is a nationalised/co-operative bank to which the Government treasury business has been made over, all moneys at the credit of the trust shall be kept in such bank :
Provided that nothing shall be deemed to preclude a trust from, with the previous sanction of the State Government, investing any such moneys in fixed deposits which are not required for immediate expenditure.