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men= and Housing Authority shall submit annually, a state~nent of all funds expended for each .project participated in by the City of PortSmouth through the grant of funds, use of credits, or o.therwise, such statement to contain information on each such project. It is further agreed between the 'parties herein that to the extent that the Department of Housing and ~rb~n Development may Enlarge its right to review said budgets, such rights ~hall enure to the benefit of the City of Portsmouth, but in no case shall the rights of the City of Portsmouth to said review be less than that pre- sen~tly granted -the Department 'of Housing and'Urban Development by existing -cent=acts. It is ~cknowtedged between the parties hereto that the budgets and accountings submitted to Department of Housing and Urban Development by Port.mouth Redevelopment and Housing Authority contain information con- cern~g opar.a~ion~ ~of ~ortsmouth Redevelopment and Housing Authority which do not use funds or credits of the City of Portsmouth. Consequently, the budgets and accountings referred to herein shall be prepared by POrtsmouth RedeVelopment ~d Housing Authority and shall contain budgetary information aa to eadh pr~j ect pa~'t'icipated in by the City o'f Portsmouth through the grant of fun~s~ use of credits, or otherwise. It is further 'agreed ~hat any participation by the City of Portemouth, through ~ho grant of ~unds, use of credits or otherwise shall he predicated upon review of the budgets submitted to it by Portsmouth Redevelopment ~am~ ~t~m~g ~t~rie~. It is further agreed that said budgets shall be ~su~mi'~e~ ~to ~h~ '~it~ o~ -Portsmouth not less than:90 days before any participation by the City of Portsmouth is required. tN ~IT~ESS W~R~09, the Ci~ty and Authority pursumnt to resolutions duly a~opt~d by ~he City Go~cil and the Commissioners of said Authority, ~es~m~ti~ety, ~a~,o .c~used ~this agreement to be duly executed as of the day and year first above written.