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The term "net revenues" as used in this Section shall <br />mean gross revenues of the System less the amounts required <br />to pay the costs of operation, maintenance and repair of the <br />System. <br />The additional bonds, the issuance of which is restricted <br />and conditioned by this Section, shall be understood to mean <br />bonds payable from the revenues of the System on a parity <br />with these bonds and shall not be deemed to include other <br />obligations the security and source of payment of which are <br />subordinate and subject to the priority of these bonds. <br />Section 17. It is covenanted and agreed by the City <br />and with the holders and registered owners of the bonds, or <br />any of them, that the City and the Utilities Commission will <br />faithfully and punctually perform all duties with reference <br />to the System required by the Constitution and laws of the <br />State of Arkansas, including the charging and collecting of <br />reasonable and sufficient rates, as herein specified, lawfully <br />established for services rendered by the System, the segregating <br />of the revenues of the System as herein required and the <br />applying of the revenues to the respective funds herein <br />created and referred to. <br />Section 18. The bonds authorized hereby and issued hereunder <br />shall be subject to redemption prior to maturity in accordance <br />with the terms set out in the bond form. <br />Section 19. The City will keep proper books of accounts <br />and records (separate from all other records and accounts) in <br />which complete and correct entries shall be made of all trans- <br />actions relating to the operation of the System, and such books <br />shall be available for inspection by the holder of any <br />of the bonds at reasonable times and under reasonable circum- <br />stances. The City agrees to have these records audited by an <br />