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(a) A report on the funds established pursuant to the <br />bond resolution describing the funds established, the amounts <br />in each fund, expenditures from each fund, the manner in which <br />the monies in each fund have been invested, the income from <br />such investments and the application of such income. <br />(b) A report on bond payments describing amounts 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 are <br />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. Effective Date. This Resolution shall become <br />effective immediately upon its adoption. <br />The foregoing Resolution adopted by the City Council this <br />24th day of May, 1993. <br />City Recorder <br />29327.1 <br />Resolution -7- <br />