1258 ORD PROVIDING FOR ISSUANCE OF COP WATERWORKS AND SEWER IMPROVEMENT AND EXTENSION REVENUE BONDS SERIES 1952

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.r _ Adik 23. (ACt70UNTE:G idsPON,TS ) 'rior ta Januar5= l,, 1953, and prior to January lst of each year tl-iereafter, t'r,e City will furnisn (without cost) to C. 1"'. B urt and Company, Dallas, Texas, and any Bor:dholder who may so request, a signed or certified copy of a report by a certified public account- ant coverirg the next precedirg fiscal yenr showing the followirk; infoimiation: (a) Iricome and J.'!""xpense Stater.:ent; (b) Balance Sheet; (c) Accountant 's comsnent regarding the raa.nner in which the "ity ha5 complied -aith the requiremients of this ordiriarice, and Yiis recorziendation for any changes or inlprove:nents in the operation of the Systeni; (d) List of insurance pol~cies in force at the end of tYie fiscal year, shawing as to each palicy,the risk covered, the nar.ie of the insurer, and the expiration date; (e) 'ihe number nroperties connected with each sy-sterL and the 'Uetal incer,ze from each syster:i for the year; (f) The nur.iber of umetered customers of each system at the end of the year; (g) Tre number of gallons of Nrater registered through the r:iaster meter and the num.ber of gallor.s sold during the year. 24. (I;dSPECTIGN). arzy nolder or holders of Boxids sYiall have the rir;ht at all reasona'ole tiir:es to inspect the System ar.d all records~ accounts and data of the 'it`T relating tl-iereto. V 25. (3z'ECI.:Z ~;OUD?ANi`"S). Tne City hereby further covenar.ts as iollows: (a) That it has the lawful power tc pledge the rever.ues supporting tYiis issue of bonds and has lawfully exercised said povrar under the Constitution and laws of the Sta.te of Texas, including said power exist- ing under Xrticles 1111 to 1118, both inclusive, itevised Civil Statutes of the State of Texa.s, YTlt,il anienclments thereto; th2t the Bonds issued iiereunder, and the Additional Bonds, when issued, shall be ra.tably secureci unuer said pled;c of income in sucYi manner that one bona sha.11 have r.o preferenue over a.ny other bond of this issue.