| CITY OF BOMBAY MUNICIPAL INVESTMENTS ACT, 1898 |
| CITY OF BOMBAY MUNICIPAL INVESTMENTS ACT, 1898 [ 1 of 1898 ( For Statement of Object and Reasons, see Bombay Government Gazette, 1898, Pt. V, p. 73; and for Proceedings in Council, see ibid, p. 205.) ] [3rd June, 1898] An Act to supplement the provisions of the City of Bombay Municipal Act, 1888, with respect to the Investment of Sinking Funds and Surplus Moneys, and to validate certain Debentures. Whereas it is expedient to supplement the provisions of the (Supra.) City of Bombay Municipal Act, 1888, with respect to the investment in public securities of sinking funds and surplus moneys of the Municipal Corporation of the City of Bombay ; and whereas it is also expedient to remove doubts which have arisen with respect to the validity of certain debentures of the Corporation in which portions of their sinking funds and surplus moneys purport to have been heretofore invested, and to obviate the extinction of such debentures of the Corporation as have been, or may hereafter be, issued in or transferred to the name of the Corporation or to the name of the Municipal Commissioner for the City of Bombay on behalf of the Corporation in respect of any such investments ; It is hereby enacted as follows :- 1. This Act may be cited as the City of Bombay Municipal Investments Act, 1898. 2. Repealed by Bom. 13 of 1933, section 42 and Appendix.] 3. Repealed by Bom. 13 of 1933, section 42 and Appendix.] 4. All the several debentures of the Corporation heretofore issued, transferred, assigned or endorsed in the name of the Corporation or in the name of the Municipal Commissioner on behalf of the Corporation as specified in Schedule A, and all debentures heretofore issued by way of renewal, consolidation or sub-division of any of the said debentures shall be deemed to be and to have always been valid and negotiable in all respects and in the same manner as if the same had been issued against moneys borrowed from the Secretary of State or any other person. 5. The signature of the person for the time being holding the office of the Municipal Commissioner for the City of Bombay to a transfer of any debenture standing in the name of the Corporation or of the Municipal Commissioner on behalf of the Corporation shall be valid and sufficient, notwithstanding that such person may not have held the said office at the time when such debenture was issued, transferred, assigned or endorsed to the name of the Corporation or the Municipal Commissioner as aforesaid. SCHEDULE A Particulars of Loans and Number of Debentures Number Amount Total Grand Total 5 per cent, Bombay Municipal Loan (Rs.10,08,500) for Drainage and Water Works, Markets and Roads Rs. Rs. Rs. Nos. 445 to 729 285 500 1,42,500 " 730 to 741 12 500 6,000 1,48,500 5 per cent Agripada House Sullage Water Connection Loan (Rs. 2,48,000) Nos. 1 to 170 170 500 85,000 " 171 to 182 12 500 6,000 " 183 to 188 6 500 3,000 " 485 to 492 8 500 4,000 " 493 to 496 4 500 2,000 1,00,000 The ( 5 per cent.) 35 Lakhs various Sanitary Works Loan Nos. 6801 to 6825 25 500 12,500 " 6826 to 6876 51 500 25,500 " 6877 to 6888 12 500 6,000 " 6889 to 6894 6 500 3,000 " 6895 to 6902 8 500 4,000 " 6903 to 6967 65 500 32,500 " 6968 to 6992 25 500 12,500 " 6993 to 7000 8 500 4,000 1,00,000 5 per cent Tansa Water Works Loan (Rs.147 Lakhs) Nos. 24401-24450 to 25351-25400 20 25,000 5,00,000 " 25401-25440 to 26201-26240 21 20,000 5,20,000 " 26241-26270 to 27261-27290 35 15,000 5,25,000 " 27291-27310 to 28271-28290 50 10,000 5,00,000 " 28291-28300 to 28481-28490 20 5,000 1,00,000 " 28491-28494 to 28887-28890 100 2,000 2,00,000 " 28891-28892 to 29229-29230 170 1,000 1,70,000 " 29231-29270 to 29351-29390 4 20,000 80,000 " 29391-29392 and 29393-29394 2 1,000 2,000 " 29395-29396 to 29399-29400 3 1,000 3,000 25,00,000 The (5 per cent.) Municipal Building Loan (Rs.8,00,000) Nos. 1-50 to 151-200 4 25,000 1,00,000 " 201-240 to 361-400 5 20,000 1,00,000 " 401-430 to 551-580 6 15,000 90,000 " 581-600 to 961-980 20 10,000 2,00,000 " 981-990 to 1171-1180 20 5,000 1,00,000 " 1181-1184 to 1377-1380 50 2,000 1,00,000 " 1381-1392 to 1599-1600 110 1,000 1,10,000 8,00,000 Particulars of Loans and Number of Debentures Number Amount Total Grand Total Total 5 per cent. Loan Debentures .. .. 36,48,500 The (4 per cent.) Loan of 4-1/2 Lakhs for Fire Bridge Quarters and Stations Nos. 1-20 to 181-200 10 10,000 1,00,000 " 201-210 to 291-300 10 5,000 50,000 " 301-304 to 417-420 30 2,000 60,000 " 421-422 to 479-480 30 1,000 30,000 " 481 to 500 20 500 10,000 Total 4 per cent. Loan Debentures . . . 2,50,000 Grand Total .. 38,98,500 |
| Maharashtra State Acts |