Annual statement

(1) The Municipal Commissioner or the Executive Officer shall, at the end of every year, prepare and submit to the municipality, an annual statement showing – (a) the amount which has been paid into the Sinking Fund or Sinking Funds under section 136 during the year, (b) the date of last investment made during the year, (c) the aggregate amount of the securities in the hands of the municipality at the end of the year, and (d) the aggregate amount which has been applied for the purpose of repayment of the loan under section 139. (2) A copy of every such annual statement shall be submitted to the State Government by the Municipal Commissioner or the Executive Officer.