(a) From time to time the playground commission shall file with the village president and board of trustees certified copies of all the plats, surveys, engineers' estimates, reports, examinations, contracts relating to any work or action undertaken by the commission and shall give the village complete information thereof, as the exclusive property of the village.
(b) In the event this division is repealed, all funds and property appropriated for the use of the commission by the village then in the hands of the commission or its officers, unexpended, shall be paid or turned over to the village treasurer within ten days after such repeal is effected, but such repeal shall not thereby work a dissolution of the commission; provided, that three fourths of all of the members of such commission shall thereupon elect to continue such commission as a non-official organization.