Section 277. Monthly report.

Not later than the tenth day in each month, the comptroller shall submit to the mayor and the council a certified report, which shall be published forthwith in the City Record, setting forth the operations of the several sinking funds during the preceding month and the condition of such funds at the commencement and close of such month and such other information as may be required.

Section 278. Annual report.

Not later than the first day of September in each year, the comptroller shall submit to the mayor and the council a certified report, which shall be published forthwith in convenient form as a supplement to the City Record and which shall set forth in detail the operations of the several sinking funds during the preceding fiscal year, the reserves required, the assets of such funds at the close of such year, the obligations redeemable from such funds, the dates of their maturities and such other information as may be required.

Section 290. Application.

The provisions of sections two hundred ninety-one through two hundred ninety-nine shall apply to the establishment, operation and administration of sinking funds established on or after July first, nineteen hundred eighty-one.

Section 291. General sinking fund.

There is hereby established a general sinking fund to amortize and redeem any or all of the sinking fund bonds issued and sold from time to time by the city of New York on or after July first, nineteen hundred eighty-one for any purpose for which sinking fund bonds may be authorized, excepting sinking fund bonds which are redeemable from the sinking fund of the city of New York, the water sinking fund of the city of New York, the rapid transit sinking fund of the city of New York, or any additional sinking fund established pursuant to section two hundred ninety-eight.

Section 292. Administration.

The comptroller shall administer and manage the general sinking fund and any additional sinking funds established pursuant to section two hundred ninety-eight of this chapter and shall have custody of the securities and other assets in such funds. In the administration of such funds the comptroller shall be deemed to be acting in a fiduciary capacity.