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grantee; employees of the City designated for the purpose when inspecting or checking <br /> <br />the operations of busses, and policemen or firemen in the discharge of their duties. <br /> <br />(7) The rights herein granted shall be subject to the general police power of <br /> <br />the City and the City reserves the right to pass such reasonable ordinances affecting <br /> <br />the operation of busses by the grantee as may be required to insure the safety of the <br /> <br />public and the orderly regulation of traffic on the streets. The number and location <br /> <br />of bus stops may be prescribed by the Mayor and Chief of Police of the City. <br /> <br />(8) The grantee shall pay to the City as compensation for the rights herein <br /> <br />granted one per centum of that portion of the total annual gross revenue from the <br /> <br />operation of busses as herein provided which does not exceed $50,000.00, and one-half <br /> <br />of one per centum of that portion of such annual gross revenue exceeding $50,000.00. <br /> <br />Such payment shall be made within sixty days after the close of each calendar year. <br /> <br />The grantee shall keep accurate records of its receipts, which records shall be subject <br /> <br />to inspection by the Director of Finance. <br /> <br />(9) The grantee shall indemnify and save harmless the City against any claims or <br /> <br />demands against the City, and any loss or damage to the City arising out of the <br /> <br />exercise of the rights herein granted, or any operation hereunder. <br /> <br />(10) The grantee shall carry liability insurance in reliable insurance companies <br /> <br />covering each bus operated hereunder, insuring against liability for property damage in <br /> <br />a sum not less than $10,000.00 for any one accident, and for personal injuries in a <br /> <br />sum not less than $15,000.00 for one person and not less than $50,000.00 for one accident; <br /> <br />provided, however, that in lieu of such insurance the grantee may provide a bond in the <br /> <br />sum of not less than $50,000.00 with surety approved by the Council, conditioned upon the <br /> <br />payment by the grantee of all claims for injury to person or property arising out of the <br /> <br />operations hereunder, which may be established against the grantee by judgment of any <br /> <br />court of competent jurisdiction. <br /> <br />Adopted by the Council April 2, 1945. <br /> <br />Ayes: Mr. Adams, Mr. Morris, & Mr. Watson. <br /> <br />(Mr. Gleason left prior to adoption of ordinance) <br /> <br />Noes: None. <br />Clerk Signature <br />President Signature