Ordinance 3768 - Laserfiche WebLink

• at least the same proportion to the amount of the Bonds and any Parity Revenue Bonds outstanding that the net revenue available for debt service on all of such bonds for the twelve months im- mediately preceding such sale or disposal from the portion or properties of the System sold or disposed of bears to the net revenue available for debt service on all of such bonds from the System for the same period. Any moneys so paid into the Bond Re- demption Fund shall be used to retire all or part of such bonds outstanding at the earliest possible date. (d) That it will not furnish sanitary sewage collection and disposal service to any customer whatsoever free of charge. (e) That the city will keep and maintain proper books and accounts with respect to the operations, income and expendi- tures of the System that are in accordance with proper and legal accounting procedures . That on or before ninety days after each fiscal year of the city' s operation of the System it will prepare or cause to be prepared an operating statement of the System for such preceding fiscal year. Each such statement shall contain a statement in detail of the gross revenue, normal and extraordinary expenses of operation and maintenance, and repairs and expenses for capital purposes of the System for such fiscal year, shall con- tain a statement as of the end of such year showing the status of all the funds and accounts created by the various ordinances per- taining to the operation of the System and authorizing the issu- ance of outstanding bonds payable from the revenue of the System, and shall contain a statement of the number of sanitary sewage collection and disposal customers per class of customer at the end of such year. Copies of such statement shall be placed on file in the office of the City Clerk and shall be open to inspection at any reasonable time by any holder of the Bonds or of any other oustanding bonds of the city payable out of the revenue of the -21-