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<br />i <br />to submit to the United States an annual statement <br />indicating, among bther things, that the ~harges <br />to customers are c~nsistent with the, principles <br />set forth in the ~irst subsection of' the resale <br />article. Fifth, Jhe city agrees either to publish <br />operating and financial data annually in a <br />newspaper of gene~al circulation 1nthe city's <br />electrical servic~ area, or to furnish such <br />information by ma~ling copies of the data to each <br />i <br />i <br />of its electricali customers. <br />! <br /> <br />The philosophy un~erlying the resale article is <br />explicitly set f9rth in such statutory law as <br />section 5 of the IFlood Contract Act' of 1944 (16 <br /> <br />. <br />U.S.C. section8~5s) and section 50f the <br />Bonnevi 11 e Project Act of 1937 (16 U .s.e. secti on <br />832d). That philosophy, simply stated, involves <br />passing the benefits of low-cost Federal power on <br />to consumers, un~er fair and reasonable terms, at <br />, <br /> <br />the lowest possi!ble rates consistent with sound <br />blisiness pri nci~l es. Thi s concept is related to <br />the preference dlause, but goes beyond the , <br />establishment o~ preference to public bodies and <br />! <br /> <br />cooperatives. the philosophy allows a power <br /> <br />marketing administration to verify that the <br /> <br />ultimate consum~r is receiving the benefits of <br /> <br />low-cost Federar power. <br /> <br />70 <br />