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ials or supplies which, if unpaid, might become a lien or charge <br /> upon the Revenue of the System, or any part thereof, or upon any <br /> funds in the hands of the City, prior to or superior to the lien <br /> of the Bonds, or which might impair the security of the Bonds. <br /> (f) The City will keep the works, plants and facilities <br /> comprising the System insured, and will carry such other insur- <br /> ance, with responsible insurers, with policies payable to the <br /> City, against risks, accidents or casualties, at least to the <br /> extent that insurance is usually carried by private corporations <br /> operating like properties, or will implement a self-insurance <br /> program with reserves adequate, in the judgment of the Council, to <br /> protect the City and the holders of the Bonds against loss. In <br /> the event of any loss or damage, the City will promptly repair or <br /> replace the damaged portion of the insured property and apply the <br /> proceeds of any insurance policy for that purpose; or in the event <br /> the City should determine not to repair or reconstruct such <br /> damaged portion of the properties of the System, the proceeds of <br /> such insurance shall be paid into any reserve account or bond <br /> retirement account in the Revenue Bond Fund and into the Revenue <br /> Interim Financing Bond Fund to the extent that such transfer shall <br /> be necessary to make up any deficiency in said accounts or funds <br /> and the balance, if any, shall at the option of the City, be used <br /> either for repairs, renewals, replacements, or capital additions <br /> to the System, for the redemption of Parity Bonds or the Bonds, or <br /> for deposit into any sinking funds, bond retirement accounts or <br /> reserve accounts established to pay or secure payment of all <br /> Parity Bonds. <br /> (g) The City shall keep proper books of account which shall <br /> be kept in accordance with any applicable rules and regulations <br /> prescribed by the State of Washington. The City shall prepare, <br /> and any owner or holder of the Bonds may obtain copies of, balance <br /> sheets and profit and loss statements showing in reasonable detail <br /> -16- BD339 81/12/22 <br />