Acquisition of Property by Municipality by Agreement, Exchange, Lease, Grant, Etc..-

(1) The Municipality may, on such terms and conditions as may be approved by it and with the prior approval of the State Government,& (i) acquire by agreement& (a) any immovable property, and (b) any easement affecting immovable property; (ii) acquire any property by exchange; and (iii) hire or take on lease immovable property. (2) 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 benefited in the discharge of any of its functions. (3) It shall be lawful for the Municipality to be the beneficiary of any trust created under the Charitable and Religious Trusts Act, 1920 (Central Act No. 14 of 1920), or the Indian Trusts Act, 1882 (Central Act No. 2 of 1882).