The Municipal Commissioners for the City of Madras shall annually set apart , and pay to the State Government in equal monthly installments, out of the funds raised under the Madras Municipal Act, 1867, or any other corresponding law for the time being in force such sum not exceeding fifty per centum of the total cost of the Police force, other than the Marine Police, employed by [the State Government] in the said city, as may be annually fixed by the State Government.