Minutes 07/20/1954 - Laserfiche WebLink

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25 TlJES DAY JULY 20, 1954 Section 10. To insure a proper and adequate system of accounting, the said busses shall be equipped with meters, and the oymer of the franchise shall install a standard. system of bookkeeping, and furnish the City 1![ith an annual financial statement prepared by a Certified Public Accountant. It shall make qU2,rterly settlements vIi th the City through such officer aSGhe Council shall designate, who may inspect and audit the Grant.ee's books at tho City's expense. ..--- Section 11. The compensation to be paid to the said City for the privileges herein granted and the "c-lse of its streets and other facilities by the holder of this franchise silall be two per cent (2%) of the ;;ross receipts derived from the carri2.ge or passeYlf-;ers. No other pri.vilege or license tau"'C, excopt the City vehicle tag and the regular ad valorem property tax, shall be levied by the City ag2.inst Grantee. The City license tag price sh2.11 be deducted from the two per cent (2%) hereinabove mentioned. No person, i'irn or corDoration operating under this ordinance shall acquire an,y vested dght or interest in the streets or highways of the City of Hartinsville. Grantee shall have the option of continuing under this franchise for an additional fifteen (15) years provided the parties agree on 1:.-11e City's compensation for said period sixty (60) days before the expiration of the first fifteen-year period. Section 12. All busses operated under this Ordinance shall be operated wi th due regard to the })ublic safety and convenience, and shall be required to obey all laws, la1Tful traffic signs arn signals. ~~ i~ i Section 13. Upon the granting of this franchise and before proceediI1.g to operate thereunder the said Grantee srJall enter into 2. bond, with surety to be approved by the City Attorney, in the peralty of not less than $2,000, conditioned that the operator under said franchise vall conform and comply with the conditions of this o""dinance and of the franchise granted thereunder, and vfill indemnify and save1.armless the said City of Marti;lsville from any and all claims and demands on account of injuries or damages occa.sioned by the negligence of the operator under said franchise, its agents or employees, lmder any and all operations under and pursuant to the terms of this franchise. Upon compliance vdth the terms of this section, a certificate allowing the said Grantee to begin operations under the terms of this Ordinance and the franchise granted hereunde!' shall be issued and signed by the Mayor and by th e Clerk of Counc il. Section 14. Grantee shall carry at all times during the term of this franchise an insurance policy to be approved by the City Attorney covering property damage of not less than $10,000.00 and public liability insurance for personal injuries of not less than $2.5,000.00 for one person, and ~~50,000.00 for one or nore persons for one accident, on each bus operated under this franchise. Section 1.5. In the event of a local or national emergency vUlich severe~ restricts the n.se of priva.te passenger vehicles, the ;\iartinsville City Council, after due notice and heari ng, may prescribe t.he routes, schedules, fares and service of the Grentee provided no such regulations ,"Iill operate to prevent the Grantee from earrring a fair return on his investnent. The Council shall declare the emergency to ~nave terminated at the earliest possible date and all regulations issued incident ti:lereto shall be repealed.