Acquisition and Construction of Extensions and Additions Waterworks authorizing Revenue Bonds to Provide Cost thereof

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sheets of the waterworks, in reasonable detail, covering such annual fiscal period, which statements shall be certified.by the City Controller or the Auditor of the waterworks. Copies of all such statements and reports shall at all times be kept on file in the office of the City Controller. Any holder of the bonds, or his duly authorized representative, shall have the right at all reasonable times to inspect the waterworks and records, accounts and data of the City relating thereto. Section 12. The City shall, to the fullest extent permitted by law, establish, maintain and collect reasonable and just rates and charges for the services and facilities afforded by said waterworks which will provide revenues at least sufficient to pay the reasonable and proper cost of the maintenance and oper- ation of the waterworks, to provide a proper and reasonable deprec- iation account, and to pay the principal of and interest on all bonds which by their terms are payable from the revenues of the waterworks, as the same become due, and provide, each year, a surplus or margin of not less than ten per cent (10%) of the prin- cipal and interest due in such year. So long as any of the bonds herein authorized are outstanding, none of the facilities and services afforded by said waterworks shall be furnished without a reasonable and just charge being made therefor. The reasonable value of any facility or service rendered to the City, or to any department, agency or instrumentality thereof, including the use of water for hydrants for fire protection or for any other purpose, shall be charged against the City and shall be paid for as the charges accrue, and the revenue so received shall be deemed to be _ �9_