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
advertising display fixtures, showing all financial transactions, including receipts
and disbursements, and the particulars thereof in a form satisfactory to the director
of the department of finance and management services. 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's director of the department of finance and management
services may reasonably require.
The company shall file annually with the city, 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 Saint Paul pedestrian skyway system advertising display fixtures 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 within or for display within the pedestrian skyway, 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 shall be submitted along with
such other reasonable information as the city shall request with respect to the company's
facilities and expenses related to its adding display 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 advertising
display fixture system, and amendments of such documents as they become effective.
(Ord. No. 17644, § 11, 3-30-89)
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