3306 - 47 Approve indemnity security proposed by Yellow Cab

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_ ~ .mir~....._ ' I I ~ RESOLUTION No. 3306 by Mr. Rawson I I AN ELIERGENCY RESOLUTIONI to approve the form of indemnity security proposed by Yellow Cab Company of Cleveland, In. V7HEREAS, Ordinance Nol 3527, known as the taxicab ordinance, provides ~ that the applicant for a taxicab license for operation in the city of s Lakewood shall provide indemnity for in3uries to persons and damages to property and further provides that in lieu of a casualty insurance policy for such purpose the applicant may submit a proposal for any other form of indemnity, and ~ 9PIIEREAS, The Yellow Cab Company of'Cleveland, Inc. licensed in the City ~f Cleveland has entered into an agreement with the City of Cleveland dated eptember 30, 1916, providing for deposit with the City of Cleveland as Trustee United States bonds in the sum of Thirty Seven Thousand Five Hundred i Collars (~37,500s00) as security for said Company's covenant to pay all final judgments which may be recovered against the company up to X5,000.00 for injury or death to any one person, $10,000.00 for injury or death to more than one person, and X1000.00 for proppr±v damage, in any one accident, ;,i while operating its taxicabs in the City o! ~veland, City of Lakewood, and other municipalities, and f wf~REAS, this resolution constitutes an emergency i.n that t provides for the public safety and welfare and the usual daily operation of a municipal department, nave, therefore, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKE'?OOD, STrTE OF OHIO: Section 1. That the form of indemnity proposed by the Yellow Cab Company I of Cleveland, Inc., ih the form of said agreement with the City of Cleveland dated September 30, 19116, more particularly above described, be, and the same k is hereby, approved and the II4ayor is hereby authorized to accept said indemnity agreement on behalf of the City of Lakewood as compliance with paragraph V, Section 1, of Ordinance No.3527. s Section 2. This resolution is hereby declared to be an emergency measure for the reasons stated in the preamble hereof and, provided it receives the affirmative votes of two-thirds of the members elected to Council, it shall take effect and be in force from and after its passage and approval by the Rayor at the earliest period allowed by Saw. Adopted: April 21, 1947 George F. Quinn JI Vice- resident i Approved: April 21, 1911? H. A. Rees { lerk A. I. Kaufflnan i yor I I