Annual Statement,

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1. (1) The Chief Officer of a Municipality shall, at the end of the every year, submit to the Municipality, a statement showing:- (a) the amount, which has been invested in the Sinking Fund or Funds during the year under section 95;
   • (b) The date of the last investment made prior to the submission of the statement
   • (c) The aggregate amount of the securities then in hand; and
   • (d) The aggregate amount, which has up to, the date of the statement been applied under section 96, in or towards the discharge of loans.
2. (2) A copy of every such statement shall be submitted to the Government.