The city shall keep proper books and records, separate from all other records and accounts, in which complete and correct entries shall be made showing all revenues collected from the waterworks system and deposited in the special fund hereinafter established, and all disbursements made therefrom, together with all transactions, relating to the system. The city, upon request, shall furnish to any holder of any of its waterworks bonds, not more than 30 days after the close of each six months fiscal period, complete operating and income statements of the system in reasonable detail covering the six-month period, and not more than 60 days after the close of the fiscal year, shall furnish complete financial statements of the waterworks system, and of the city covering such fiscal year and certified by the Clerk-Treasurer. The financial statements of the waterworks system shall at all times be kept on file in the office of the Clerk-Treasurer. Any holder of any of the bonds shall have the right at all reasonable times to inspect the waterworks system and all records, accounts and data of the city relating thereto.
('79 Code, § 17-25)