Bisbee daily review., 1907-05-14
Section 8.

| the public shall demand Section 8. It is agreed that the consideration for the rights and privileges granted i by the City to the Company under
 this franchise shall be, that the Luur-
 pany shall pay to the City on the first
 day of April of each year during the
 life Ut the franchise twenty per cent
 t2OIo) of the net earnings OI me
 Company for the preceding year end
 ing the first of January, derived from
 the five cent fares taken in on cars
 while operating on tracks within tine
 corporate limits of the City of Bisbee.
 The net earnings shall consist oi
 fares so taken in, less the cost of operation, repairs, maintenance, in-
 surance, an interest charge of six
 Der cent (G%o) on cost of that DOT
 tion of the railway system under op-
 eratiOn within the corporate limits
 of the City, and charge of eight per cent (S%o) for depreciation based on
 the cost of the system within the cor
 porate limits of the City. The Com
 pany agrees to replace with the fund
 created by the depreciation charge all
 equipment In any way rendered in-
 efficient either by use or by becoming obsolete.
 All personal injury or other claims
 arising from the operation of the
 railway and paid by the Company
 shall be considered as operating eX-
 pense.
 The Company agrees to furnish the , City with full and verified report on the first day Of April of the operation of the railway within the cul ,,1rate limits of the City for the year preced ing the first of January of the year
 in which such report is made and to accompany such report with payment of twenty per cent(209cD of net earn ings as before provided for, and the
 City shall have the right to eAaIlIue
 books of the Company Ioi thc pre-
 cediGS year covering sucn operation section 9. The Company shall cause said rail way to be erected within the tine hereinbefOre provided: and the failure of said Company to cOmpieta the said road within the time herein provided shall also work a forfeiture of the franchise hereby granted, Provided. however that in case the City shall
 fail to provide a right of way over
 the necessary portion of the Subway,
 and up Tombstone Canyon as herein before specified then the forfeiture herein provided shall have no .cIce
 and effect
 section 70. The Company will equip all cars with efficient and serviceabIe fender devices, head lights and sanI boxes. -.
 Each double truck car will be equip l ped with two sets of brakes, one of which to be operated by hand and the other to be the most approved | type of air brakes for the purpose. The cars win be well and sufficient
 ly heated and lighted. The cars will be provided with DIsh- buttons at each seat for the purpose Of notifying the conductor when pas senger wishes to leave the car. Section il. This franchise as a grant of a pu,,- !-lic utility shali take effect when au- thorized by . majority vote of the
 qualified electors of said City at a special election, duly and legally called for that purpose, and upon tho
 passage and adoption thereafter of this ordinance by the Common Cou,- ell of the City of Bisbee. P1ssed and adopted by the Common
 Council of the City of Bisbee, the .. day Of ...'.... 191
 Attest:
 ........, City clerk. Frs, publication May g. 1907.