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retired: <br />a. A report on the funds established pursuant to the <br />bond resolution describing the funds established, the <br />amaunts in each fund, expenditures from each fund, the <br />manner in which the monies in each fund have been invested, <br />the income from such investments and the application of such <br />income. <br />b. A report on band payments describing amaunts paid <br />and amounts scheduled to be paid and the source of such <br />payments. <br />If the contents of the reports required by subsections a and b <br />are included in the Eugene Water & Electric Board's yearly audit <br />report, the Board may comply with this section by transmitting a <br />copy of its yearly audit report to the City. <br />Section 4. Ewer enc Clause. This Ordinance is essential <br />to the public welfare and safety, and therefore an emergency is <br />hereby declared to exist and this Ordinance shall take effect <br />immediately upon its passage by the City Council and approval by <br />the Mayor. <br />Passed by the City Council this Approved by the Mayor this <br />/8 day of June, '1986 i5~"d J e 986 <br />a <br />Ci y Recorder Mayor <br />Ordinance -- 7 <br />