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; <br />3 <br />f <br />{ <br />1 <br />I <br />all or a part of the Bonds outstanding when such J <br />1 <br />;F <br />additiona1 bonds are proposed to be issued. ~ <br />~ <br />22, MAINTENANCE AND OPERATION• INSURANCE. While I <br />~I <br />any bonds payable from-the Net Revenues of the ystem a <br />i <br />t ng the City covenants and agrees to maintain the System i <br />outstandi I` <br /># <br />i <br />in good condition and operate the same in an efficient manner 1 <br />f~ E <br />and at reasonable expense, and to maintain insurance on the ~ <br />,i <br />; System, for the benefit of the holder or holders of the First I <br />i <br />Lien Bonds, the Bonds and the Additional Bonds of a kind and <br />~I in an amount which usually would be carried by private companies <br />, <br />engaged in a similar type of business. Nothing in this <br />Ordinance shall be construed as requiring the City to expend <br />any funds which are derived from sources other than the System, <br />~ <br />but nothing herein shall be construed as preventing the City <br />from doing so. <br />23, ACCOUNTS AND FISCAL YEAR. The City shall keep <br />proper books of records and accounts, separate from all other <br />records and accounts of the City, in which complete and correct <br />4 <br />i <br />i <br />! entries shall be made of all transactions relating to the Systerr, <br />!and shall have said books audited once each fiscal year by a <br />~ Certified Public Accountant. The City agrees to operate the <br />; <br />System and keep its books of records and accounts pertaining <br />! <br />, thereto on the basis of its current fiscal year; provided, <br />however, that the City Council may change such fiscal year by <br />3 <br />i~ <br />ordinance duly passed, if such change is deemed necessary by <br />the City Council. <br />;i <br />ji 24, ACCOUNTING REPORTS. Within ninety days a ter <br />~k <br />~ the close of each fiscal year hereafter, the City will furnis , <br />without cost, to the Texas Water Development Board, so long as <br />i~ <br />~i <br />;i <br />i~ <br />; said Board is the owner of any of the Bonds, and The Municipa <br />cil of Texas, a signed or certified copy of a <br />Advisory Coun <br />i~ <br />report by a Certified Public Accountant, covering the next <br />ij <br />i; preceding fiscal year, showing the following information: <br />