Ordinance 3945 - Laserfiche WebLink

after normal costs of maintenance and operation of said System have been paid but before depreciation. b. That it will at all times keep and maintain the System in good repair, working order and condition, and will at all times operate the System and the business in connection therewith in an efficient manner and at a reasonable cost . c . That it will not sell or otherwise dispose of and- of the properties of the System (unless the same are no longe_ used, useful or necessary in the operation thereof) unless pro- vision is made for payment into the 1963 Bond Redemption Fund Of a sum sufficient to redeem and retire all of the Bonds out- standing in accordance with the terms thereof. d. That it will keep proper and separate accounts and records in which complete and separate entries will be made of all transactions relating to the System and its operation, and will furnish to Blyth & Co. , Inc . and Wm. P. Harper & Son & Company of Seattle, Washington, and to any subsequent holder or holders of the Bonds at the written request thereof, that portion of the audits made of the City's records by the Depart- ment of Municipal Accounting of the State Auditor ' s office relating to the operation of the System. That within ninety days after December 31 of each year commencing with the year 3.963, it will prepare complete operating and income statements of the System in reasonable detail for each such calendar year, which will also be furnished to such purchasers of the Bonds and to any subsequent holder or holders thereof upon written request therefor. e . That it will at all times carry fire and extended coverage and such other classes of insurance on such of the buildings, equipment, facilities and properties of the System