The Clerk shall keep in his or her office in a book or books kept expressly for that purpose a correct list of all the outstanding bonds of the city, showing the number and amount of each, for and to whom the bonds are issued; and when the city bonds are issued, or purchased, or paid, or cancelled, the book or books shall show that fact; and in the annual report, the Clerk shall describe particularly the bonds sold during the year and the terms of sale with each and every item of expense thereof.
(65 ILCS 5/3.1-35-110) (1999 Code, § 1-2-64)