(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 date of the statement been applied under section 96, in or towards the discharge of loans.(2)A copy of every such statement shall be submitted to the Government.
