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• <br /> supplies which, if unpaid, might become a lien or charge upon the <br /> Revenue of the System, or any part thereof, or upon any funds in <br /> the hands of the City, prior to or superior to the lien of Parity <br /> Bonds, or which might impair the security of Parity 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, <br /> to protect the City and the holders of the Bonds against loss. <br /> In the event of any loss or damage, the City will promptly repair <br /> or replace the damaged portion of the insured property and apply <br /> the proceeds of any insurance policy, for that purpose; or in the <br /> event 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 the Reserve Account to the <br /> extent that such transfer shall be necessary to make up any <br /> deficiency in said Reserve Account and the balance, if any, shall <br /> at the option of the City, be used either for repairs, renewals, <br /> replacements, or capital additions to the System, for the redemp- <br /> tion of Parity Bonds, or for deposit into the Reserve Account. <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 Parity Bonds may obtain copies of, <br /> balance sheets and profit and loss statements showing in reason- <br /> able detail the financial condition of the System as of the close <br /> of each year, and the income and expenses of such year, including <br /> the amounts paid into the Revenue Fund, the Revenue Bond Fund, <br /> and into any and all special funds or accounts created pursuant <br /> -21- <br />