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E <br /> not issue or attempt to issue any bonds claimed to be entitled to <br /> a priority of lien on System Revenues over the lien securing the <br /> Series 1991 Bonds. <br /> The City reserves the right to issue Additional Bonds to <br /> finance or refinance the cost of constructing any future <br /> extensions, betterments or improvements to the System, but the City <br /> shall not authorize or issue any such Additional Bonds ranking on <br /> a parity with the Series 1991 unless and until there shall have <br /> been procured and filed with the Trustee a statement by an <br /> independent certified public accountant not in the regular employ <br /> of the City reciting the opinion, based upon necessary <br /> investigation, that Net Revenues for the fiscal year immediately <br /> preceding the fiscal year in which it is proposed to issue such <br /> Additional Bonds shall equal not less than 120% of the maximum <br /> annual principal and interest requirements on all the then <br /> outstanding Bonds payable from System Revenues and the Additional <br /> Bonds then proposed to be issued. For the purposes of the <br /> computation required by this paragraph, additional amounts may be <br /> added to the Net Revenues of the completed fiscal year immediately <br /> preceding the issuance of Additional Bonds, as follows: If, prior <br /> to the issuance of the Additional Bonds and subsequent to the first <br /> day of such preceding fiscal year, the City shall have increased <br /> its rates or charges imposed for services of the System there may <br /> be added to the Net Revenues of such fiscal year the additional Net <br /> Revenues which would have been received from the operation of the <br /> System during such fiscal year had such increase been in effect <br /> throughout such fiscal year, as reflected by a certificate of a <br /> duly qualified consulting engineer not in the regular employ of the <br /> City and approved by the Trustee. <br /> Section 15. The Series 1991 Bonds shall be subject to <br /> redemption prior to maturity in accordance with the terms set out <br /> in the bond form, hereinabove. <br /> Section 16. The City will keep proper books of accounts <br /> and records (separate from all other records and accounts) in which <br /> complete and correct entries shall be made of all transactions <br /> relating to the operation of the System, and such books shall be <br /> available for inspection by the holder of any of the Bonds at <br /> reasonable times and under reasonable circumstances. The City <br /> agrees to have these records audited by an independent certified <br /> public accountant at least once each year. A copy of the audit <br /> shall be delivered to the Trustee not later than 180 days after the <br /> end of each fiscal year and shall be made available to any <br /> bondholder making request therefor. In the event that the City <br /> fails or refuses to make the audit, the Trustee, or any holder of <br /> a Bond, may have the audit made, and the cost thereof shall be <br /> charged against the Operation and Maintenance Fund. <br /> Section 17 . The City covenants that it will maintain the <br /> System in good condition and operate the same in an efficient <br /> manner and at reasonable cost. While any of the Bonds are <br /> outstanding, the City agrees that, to the extent that comparable <br /> tc\mY\bawi.oaz -19- <br />