In every town in which the Town Improvement Act, 1871 (Madras), or any other corresponding law for the time being in force is in operation, the Municipal Commissioners for such town shall annually set apart, and pay to the State Government in equal monthly installments out of the funds raised under the said Act or law, such sum not exceeding seventy-five per centum of the total cost of the Police force employed in such town as may be annually fixed by the State Government.