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Section 7. The City Council hereby authorizes the City Manager to take any and all actions necessary to implement the provisions of Section 353.110 R.S. Mo. 1978, as amended, after the effective date of this ordinance and upon acqui- sition of the aforedescribed real property by Developer, in order to grant to Developer, its successors or assigns, such tax relief as it may be entitled to under said Section during the first fifteen (15) year period following acquisition by Developer of the aforedescribed area hereby approved for redevelopment. This section is subject to Developer agreeing for itself, its successors or assigns, in the form of the Agreement above set forth, to the assessment and payment of all ad valorem taxes on said area, based on the full true value of the real property for all years subsequent to the said initial fifteen (15) year period. Section 8. Developer, whose Development Plan is approved by this ordinance and who desires to obtain the benefits of tax exemption status contained in Section 353.110, R.S. Mo. 1978, as amended, its successors or assigns, is required to file with the Director of Finance a financial statement prepared by a Certified Public Accountant, using and following the chart of accounts and accounting and reporting system established by the American Institute of Certified Accountants and endorsed by the National Association of Home Builders, as follows: (a) The first such statement, regarding the first calendar year follow- ing the year in which this ordinance becomes law, shall be filed on or before March 31, of the second year following the year in which this ordinance approving the Development Plan becomes law. Thereafter, such statement for each successive calendar year shall be filed annually on or before March 31, of the following years. (b) The financial statement shall: (1) follow an accepted accounting procedure; (2) contain an operating profit and loss statement; (3) contain such other information as the Director of Finance by rule or regulation shall require; (4) be duly attested to by the president and the treasurer of said corporation as an accurate and truthful representation of said corporations' financial condition. 10