1559 ORD GRANTING TO JACK ABSHIRE AND M L BRISTOW A FRANCHISE TO USE PUBLIC STREETS, ETC OF COP

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Section 16. That the grantees shall promptly pay all lawful ad valorem taxes, and such other levies and assessments, if any, that may be lawfully imposed upon it. Failure to pay any of such charges or either of them shall be deemed a breach of the privilege granted herein, and the City, upon the happening of such event, rrsay declare the rights of the grantee hereunder forfeited for such breach.~ Section 17. This grant is made upon the express conditions that the non-exercise of the power to regulate rates and charges which the grantees may charge to the public in the operation of its busir~ess shall never be con- strued as an •acquiescence or recognition of the justness or correctr~e,ss of said granteest established rate, and that so long as the GovErning Body of tlie Gity of Paris does not exercise its legislative and governmenta.l power to fix and regulate the rates that the grantees her ein shall charge to the public, the question of property values used and useful in the rendering of the service prior to rate regulation shall never stop the City from determining the real or actual value of property used or useful in rendering such service. If, and when, the City Council, or other gover`ning body shall exercise the power to fix the rates to be charged. for such service in the City of Paris, no allowance in the way of said rate shall be made as compensation for any property used or consumed in rendering the service by the grantees herein for such service. If, and when, the City Council decides to regulate rates, then at such time the Council will fully exercise its rate regulatory power under the provision s of law applicable thereto, and the failure to provide under this ordinance the machinery for the administrative, legislative' or executive control of such matter shall not preclude the Council from fully exercising that power and providirig suitable provisions to enforce such powerti It is understood that the fee charged for transportation of each passenger at beginning of the operation under this franchise shall be Twenty (20~) Cents per person with transfers available so as to enable a person to travel from any place on the route throughout the city to any other place without additional charge. Section 18. Should it be determined that any clause, condition, or covenant bf this franchise is, for any reason, illegal or unenforceable, such t clause, condition or covenant shall be disregarded, and the existence of the same shall not affect the remaining clauses, conditions or covenants of this franchise. Section 19. That ;any unwarranted and intentional neglect, failure or re- fusal of said grantees to comply with any of the conditions and stipulations contained in said franchise shall thereupon immediately, ipso facto, effect a forfeiture the;reof, and the said City, by the City Council, may thereupon de- clare said franchise forfeited, and may exclude said grantees from further use of the streets of said City under said franchise, and said grantees shall thereupon and immediately surrender all rights in and to the same, and said franchise shall become null and void and of no effect. Section 20. Within ten (10) days after the third and final reading of this ordinance and its passage by the City Council, the grantees herein shall file with the City Clerk, in writing, the acceptance of the terms and provisions of this grant. Section 21. This ordinance shall become effective sixty (60) days from and after the date of its passage and adoption on third and final reading.