Section 150. Annual statement.

(1) The Chief Municipal 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 during the year under section 145, (b) the date of the last investment made during the year, (c) the aggregate amount of the securities in the hand 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 149. (2) A copy of every such annual statement shall be submitted to the State Government by the Chief Municipal Officer.