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by the office or officer upon whom such powers, obligations and <br /> duties shall be imposed by law. <br /> Section 24 . It is understood and agreed that the <br /> Commission, acting for and on behalf of the City, has custody of <br /> and control over the System, operates, maintains and repairs the <br /> System and collects and handles System revenues . Therefore, it is <br /> understood and agreed that even though there are some express <br /> references to the Commission, all references herein to the City <br /> shall , when appropriate in view of the authority and responsibility <br /> of the Commission, be construed to mean and include the Commission. <br /> To this end, the Commission shall be obligated to perform all <br /> covenants and obligations with reference to the System and System <br /> revenues, set forth herein, the performance of which are within its <br /> authority and jurisdiction. It is understood and intended that the <br /> bondholders have relied on, and are beneficiaries of, such <br /> commitments of the Commission. <br /> Section 25 . The Trustee shall only be responsible for <br /> the exercise of good faith and reasonable prudence in the execution <br /> of its trust . The recitals in this Ordinance and in the face of <br /> the Bonds are the recitals of the City and not of the Trustee . The <br /> Trustee shall not be required to take any action as Trustee unless <br /> it shall have been requested to do so in writing by the holders of <br /> not less than ten percent (10%) in principal amount of the Bonds <br /> then outstanding and shall have been offered reasonable security <br /> and indemnity against the costs, expenses and liabilities to be <br /> incurred therein or thereby. The Trustee may resign at any time by <br /> ten (10) days notice in writing to the City Clerk and the majority <br /> in principal amount of the holders of the Bonds then outstanding at <br /> any time, with or without cause, may remove the Trustee . In the <br /> event of a vacancy in the office of Trustee, either by resignation <br /> or by removal , the majority in principal amount of the holders of <br /> the Bonds then outstanding may appoint a new Trustee, such <br /> appointment to be evidenced by a written instrument or instruments <br /> filed with the City Clerk. If the majority in principal amount of <br /> the holders of the Bonds then outstanding shall fail to fill a <br /> vacancy within thirty (30) days after the same shall occur, then <br /> the City shall forthwith designate a new Trustee by a written <br /> instrument filed in the office of the City Clerk. The original <br /> Trustee and any successor Trustee shall execute a written <br /> acceptance of the trust imposed upon it or them by this Ordinance, <br /> but only upon the terms and conditions set forth in this Ordinance <br /> and subject to the provisions of this Ordinance, to all of which <br /> the respective holders of the Bonds agree . Such written acceptance <br /> shall be filed with the City Clerk and a copy thereof shall be <br /> placed in the bond transcript . Any successor Trustee shall have <br /> all the powers herein granted to the original Trustee . In the <br /> event of a change in the office of Trustee, the former Trustee <br /> which has resigned or been removed shall cease to be Paying Agent <br /> and the successor Trustee shall automatically become the Paying <br /> Agent . <br /> 23 <br />