(1) The municipality may, on such terms and conditions as may be approved by it, acquire by agreement –
(a) any immovable property, and
(b) any easement affecting immovable property.
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(2) The municipality may also acquire any property by exchange on such terms and conditions as may be approved by it.
(3) The municipality may also hire or take on lease immovable property on such terms and conditions as may be approved by it.
(4) The municipality may receive any grant or dedication by donor, whether in the form of any income or any movable or immovable property, by which the municipality may be benefitted in the performance of any of its functions.
(5) It shall be lawful for the municipality to be the beneficiary of any trust created under the Charitable and Religious Trusts Act, 1920, or the Indian Trusts Act, 1882.
128. Compulsory acquisition of land
(1) When any land, whether within or outside the limits of the municipal area, or any easement affecting any immovable property vested in the municipality, is required for any public purpose under this Act, the State Government may, at the request of the municipality, proceed to acquire such land or easement under the Land Acquisition Act, 1894.
(2) The municipality shall be bound to pay to the State Government the cost including all charges in connection with the acquisition of the land under the Land Acquisition Act, 1894.
(3) The municipality may resort to other methods of land assembly, including the use of transferable development rights.
129. Special provisions for acquisition of lands adjoining streets - Whenever the municipality makes a request to the State Government for acquisition of land for the purpose of widening or improving an existing street, it shall be lawful for the municipality to apply to the State Government for the acquisition of such additional land immediately adjoining the land to be occupied by such new street or existing street as is required for the sites of buildings to be erected on either side of the street, and such additional land shall be deemed to be required for the purposes of this Act.