Minutes 08/10/1954 - Laserfiche WebLink

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Section 10. The compensation to be paid to the said City for the privileges herein granted and the use of its streets and other facilities by the holder of this franchise shall be two per cent (2%) of the gross recoipts derived from the carriage of passengers. The Grantee shall pay for vehicle license tags as re- quired by the City but may deduct the amount paid for same in computing its liability to the City under said two per cent (2%) of gross receipts derived from the carriage of passengers. No other privilege or license tax except the regular ad valorem property tax shall be levied by the City against Grantee. No person, firm, or corporation operating under this ordinance shall acquire any vDsted rights or interest in tho streets and highways of the City of Martinsville. Grantee shall have the option of continuing under this franchise for an additional fifteen (15) years, provided, the parties agree on the City's componsation for said period sixty (60) days before the expiration of tho first fifteen-year period. Section 11. Upon the granting of this franchise and before proceeding to operate thereunder, the said Grantee shall enter into a bond, with surety to be approved by the City Attorney, in the penalty of not less than two thousand dollars ($2,000.00) conditioned that the operator under said franchise will conform and comply with tho conditions of this ordinance and of the franchise granted thereunder, and will indemnify' and save harmless tho said City of Martinsville from any and all claims and deIDffi1ds on account of injuries or damages occasioned by tho negligence of the operator under said franchise, its agents or omployees, under any and all operations under and pursuant to the terns of this franchise. Upon compliance with the terms of this section, a certificate allowing the said Grantee to begin operations under the terms of this ordincncc nnd the franohise grunted hcrm.mdcr shall be issued and signed by the Hayor and b;;r the Clerk of Ci.ty Gauncil. Section 12. Grantee shall carry at all times during the term of this franchise an insurance policy to be approvod by the City Attorney covering property damage of not less than <~lO,OOO.OO and public liability insurance for personal injurios of not less than ()25,OOO.OO for one person, end ~;;50,OOO.00 for one or more persons for one accident, on oach bus operated undor this franchise. Soction 13. The Martinsville City Council, upon thirty days' notice, may re- quire the Grantoc to show cause why his franchise should not be revoked for failing from an overall and community-wide standpoint to adequately moot the requirements of public convenience and necossity, commensurato with earning a fair return on the investment of the business. In tho ovont the Grantee fails to tho safisfaction of the Martinsville City Council to show cause why his franchise should not be revoked, the Council may lllstitute such apnropriate action as it may deem necessary, in the Circuit Court of i~e City of Martinavillo, Virginia, for the revoking of said franchise, in part. or in its entiret:', provided the Council shall act affirmatively on such a proposal at two meotings with Em interval of at loc..8t t1;lO weeks separating such meetings. Failure to moet the requirements of public convenience and necessity from an overall and community-\.Jide standpoint, commensurate with eaIning a fair return on the investment of the business, shall include among other things: a. H8.intcining schedules of fnros of such a nature as to cause the Company to earn more than the gencrally accepted fair rate of return on the investment for any fiscal year. Standards re- cOD1ized by the Virginia state Corporation Commission and/or othor similar public utility regulating bodies may be used in ostablishing a fair ratc of return on the investment. b. Establishing schedules of fares that are unjustly discriminatory with respect to any section of the City or class of riders. c. Failing to adequately meet the reasonable demands of the residonts of any street or section of tho City for bus servico evcn though such service may be unprofitable, provided such service will not unduly restrict servicc on other routes or will not cause tho Grantee to re~lize less than a fair return from Granteo's overall City-wide operations. --. d. Failing to provide courteous, safe, neat and clean drivers and other personnel. Failing to provide modern, safe, clean and comfortable busses. Failing to make adequate provisions so that tho public may keep itself advised as to routes, schedules, stops and fares. Failing to observe all laws of the City and State and all provisions of this franchise. It is not tho intention of this franchise to limit the requirements of adequate convenionce and necessity to the foregoing itemst nor is it intended that failure in anyone item alone would automatically constitute grounds for franchise