Purchase of Land and the Construction , off Street Parking Facilities Issuance of revenue Bonds and Distribution of the Revenues

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or if the time when such funds will be required for use can- not be determined, such investment shall be made only in se- curities having a maturity date of one (1) year or less from the date of purchase. Such investment shall be made in strict accordance with the provisions of Chapter 9 of the Acts of the Indiana General Assembly for the year 1945, as amended, and any interest or other accretions derived from any such invest- ments shall become a part of the respective accounts of said Parking Sinking Fund, or Replacement and Improvement Fund, as the case may be, so invested. Sec. 14. The City shall cause to be prepared and dis- tributed quarterly construction progress reports, certified by the architect or engineer in charge of construction of the Project 1969 parking facilities, to the original purchas- er of the bonds, and to any bondholder who requests the same, setting forth the amount of dollars expended to date of the report, the percentage completion of each parking facility in the Project 1969, and the scheduled date of completion of each. The City shall keep proper books of record and account, separate from all of its other records and accounts, in which complete and correct entries shall be made showing all income and revenues derived from the operation of said Project 1969 parking facilities and all disbursements made therefrom on account of the operation of the facilities and all other fi- nancial transactions relating to the facilities. There shall be prepared and furnished to the original purchaser of the bonds and, upon written request, to any holder or holders of outstanding bonds, not more than ninety (9.0) days after the close of each calendar year, an annual statement containing operating and income statements and balance sheets of the - 25 -