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Sewage Works Sinking Fund, also all other financial transactions relat- <br />ing to said works, including the amounts set aside or credited to the <br />Sewage Works Depreciation Fund and Sewage Works Improvement Fund, <br />and the cash balances in each of said /funds as of the close of the <br />preceding fiscal year. There shall be prepared and furnished to the <br />original purchaser of the bonds, and, upon written request, to any <br />subsequent holder of the bonds at the time then outstanding, not more <br />than ninety (90) days after the close of each fiscal year, operating income <br />and expense and balance sheet statements of the works, covering the <br />preceding fiscal year, which annual statements shall be certified by the <br />City Controller, or the person charged with the duty of auditing the books <br />and records relating to said works, or be prepared by an independent <br />certified public accountant retained for that purpose. Copies of all such <br />statements and reports shall be kept on file in the office of the City Con- <br />troller. Any holder or holders of the bonds then outstanding shall have <br />the right at all reasonable times to inspect the works and all records, <br />accounts and data of the City relating thereto. Such inspections may be <br />made by representatives duly authorized by written instrument. <br />Sec. 14. The City shall, by ordinance of the Common <br />Council, maintain just and equitable rates or charges for the use of and <br />the services rendered by said works, to be paid by the owner of each and <br />every lot, parcel of real estate or building that is connected with and uses <br />said sewage works by or through any part of the sewerage system of the <br />City, or that in any way uses or is served by such works. Such rates or <br />charges shall be sufficient in each year for the payment of the proper <br />and reasonable expenses of operation, repair and maintenance of the <br />works, for depreciation, and for the payment of the sums required to be <br />paid into the Sewage Works Sinking Fund by said governing Act. Such <br />ratesor charges shall, if necessary, be changed and readjusted from time <br />to time so that the revenues therefrom shall always be sufficient to meet <br />- 17 - <br />