(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 148;(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 149, in or towards the discharge of loans.
