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� U <br /> shall have -the- powers, duties and responsibilities specified in <br /> Section 6505.5 of the Act. The Controller shall draw checks to <br /> pay demands against the Authority when the demands have been <br /> approved by the Authority. <br /> (4) The City shall determine the charges to be <br /> made against the Authority for the services of the treasurer and <br /> controller. <br /> (5) The Treasurer and Controller of the Authority <br /> are designated as the public officers or persons who have charge <br /> of, handle, or have access to any property of the Authority, and <br /> each such officer shall file an official bond in the amount of <br /> $25,000 as required by Section 6505.1 of the Act; provided, that <br /> such bond shall not be required if the Authority does not possess <br /> or own property or funds with an aggregate value of greater than <br /> $500.00 (excluding amounts held by a trustee or other fiduciary <br /> in connection with any Bonds) . <br /> (6) The Controller of the Authority is hereby <br /> authorized and directed to prepare or cause to be prepared: <br /> (a) a special audit as required pursuant to Section 6505 of the <br /> Act every year during the term of this Agreement; and (b) a <br /> report in writing on the first day of July, October, January, and <br /> April of each year (commencing October, 1993) to the Board, the <br /> City and the Housing Authority which report shall describe the <br /> amount of money held by the Treasurer and Controller of the <br /> Authority for the Board, the amount of receipts since the last <br /> such report, and the amount paid out since the last such report <br /> (which may exclude amounts held by a trustee of other fiduciary <br /> SF2-17967.1 <br />