§ 13. Accounts and records  


Latest version.
  • The Company shall keep books of account and records of all business transacted and costs incurred in connection with the purchase, manufacture and installation of the shelters and advertising on shelters, showing all financial transactions including receipts and disbursements and the particulars thereof in a form satisfactory to the City Comptroller-Treasurer. Company shall make such books of account and records available at all reasonable times for inspection, examination or audit by city officers, employees or agents. Company shall submit such statements in regard to revenue as the City Comptroller-Treasurer may reasonably require.

    The Company shall file annually with the City Comptroller-Treasurer, no later than one hundred twenty (120) days after the end of the Company's fiscal year, a copy of a financial report applicable to the Minneapolis bus shelter system, including an income statement relating to its operations during the fiscal year and a balance sheet, both of which shall be certified as correct by an independent certified public accountant, and a statement of its properties, equipment and facilities which are located upon the streets, highways and public places within the City giving its investment in such facilities on the basis of original cost less applicable depreciation. These reports shall be certified as correct by an authorized officer of the Company and there shall be submitted along with them such other reasonable information as the City shall request with respect to the Company's facilities and expenses related to its bus stop shelter system operations within the City.

    The Company shall also file with the City Clerk copies of its articles of incorporation, bylaws, agreements with any other person relating to the ownership of the bus stop shelter system, and amendments of such documents as they become effective. (2010-Or-043, § 1, 4-16-10)