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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 /> <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 /> <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 /> <br /> (6) The Controller of the Authority is hereby <br />authorized and directed to prepare or cause to be prepared: <br /> <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 /> <br />s~17967.~ 8 <br /> <br /> <br />