To the extent not covered by the duties of a trustee chosen by the Chico public financing authority, the treasurer shall establish and maintain such funds and accounts as may be required by good accounting practices or any provision of any trust instrument entered into with respect to the proceeds of any bonds issued by the authority. The books and records of the Chico public financing authority in the hands of a trustee or the treasurer shall be open to inspection at all reasonable times by representatives of the city or the Chico redevelopment agency. The treasurer, within one hundred eighty days after the close of each fiscal year of the authority, shall give a complete written report of all financial activities for such fiscal year to the city and the Chico redevelopment agency to the extent such activities are not covered by the report of such trustee. The trustee appointed under any trust agreement shall establish suitable funds, furnish financial reports and provide suitable accounting procedures to carry out the provisions of such trust agreement. Such trustee may be given such duties in such trust instrument as may be desirable to carry out the purposes of the Chico public financing authority.
(Res. No. 11 90-91 (part))