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- Section_7. The City..Council. hereby_ authoriz.es the Director of Finance
<br />'. . _.to. .. take..any_. and. all. actions. necessary. to . implement the provisions of Section
<br /> as .amended,.-,after.--.the,effeq;�me. date of this ordinance
<br /> and upon acquisition..of--the. afnEedescrib"e&. .real. property by TDRC, in order to
<br />! - - - grant to TDRC, its .successors or__ assigns.,...such. tax ..relief as it may be entitled
<br /> to under said..Section..during-.-the..frst_fifteen..(.15)_year. period following acqui-
<br /> sition Icy_TDRC..of..,.the....aforedes,cr.ibed,,...area..,hereby. approved for redevelopment.
<br /> This section. is. subject .to._TDRG .electing-f-OX-itself., _its. successors or assigns,
<br /> in the form of, the.Agreement,...aboue._.set.__.forth, to ,the assessment and payment of
<br /> all ad valorem-taxes.- on..said.....area.,..b.as.ed..,on... ..the full true value of the real
<br /> property_.for__all._years ,subsequent-. to,the.said initial fifteen (15) year period.
<br /> Section 8. TDRC.,._whose ..Devel.opnent ..Plan is approved by this ordinance
<br /> and who desires__to_.-abtain_..the..benef.its, of-tax.- exemption status contained in Sec-
<br /> tion 353..1.1.Q,..-..R... S,,.Mo..,._19.69..,..its:..,.succeaaors., or_ assigns, is required to file
<br /> with the..Di.rector..-of. .Finance...:a..financial. s-tatement prepared by a Certified Public
<br /> Accountant,....using.a.and .follow.ing....the ..chart:_of. accounts and accounting and report-
<br /> ing system. .established..by.. the.. American ..Institute of Certified Accountants and
<br /> endorsed-by..the. National._Associ.ation._of.,.Home Builders, as follows:
<br /> _. ..,..1,.,._The:..fi:xst. such..s.tatement., regarding,.the first calendar year follow-
<br /> ing the-.year ...in..which..this...or.dinance.._be.comes._-law, _shall be filed on or before
<br /> January 31, of the_ second-...year....fol.lowing.-_the... year,in which this ordinance
<br /> approving...the..DeveIop meat....P.lan_--becomes,,law.—_-Thereafter, such statement for each
<br /> success ive..calendar..year shal.l:.-be..filed..annually...on.,or. before January 31, of the
<br /> s.
<br /> following years.
<br /> 2.. ..Th:e .,financial statement shall:
<br /> . (a)..follow. an ,accepted accounting procedure;
<br /> (b)_ contain.an.,.op.erating.,.p.rofit and loss statement;
<br /> (c) .contai.n..such..other_,3pformation as the Director
<br /> of .Finance by--rule..ar...regulation shall require;
<br /> .(d) be duly .attested.;to. by the president and the
<br /> _.
<br /> treasurer..of-said,.corporation as an accurate
<br /> and .truthful:,_repzesent,,tlon of said corporations '
<br /> financial condition.
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<br /> Section. 9.__ ..The..,.Director....of .Finance. shall. review all financial state- a
<br /> ments submitted-to-,him..by. _TDRC,-..its..succes.s.ars._ or.. assigns. He shall determine
<br /> the net income-of.. the _TDRC,..._it,s._.&ucceasor-s.,.or...asslgns._and shall determine whether
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