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HomeMy WebLinkAboutOrdinances Book 10, Page 1076, No Resolution Number1076 A RESOLUTION RECEIVING, FILING A10 A:PROVING THE PER! ORMANCE BOND AND THE LIABILITY INSURAIICE IN"NU}T M E POLICY FUR11 TRE CITY OF PADUCAIi, KENTUCKY, BY PHE LEXINGTON RAILWAY SYSTEM, INCORPORATED, AS REQUIRED BY T1iE ORDINANCE UNDER WEICII SAID COMPANY BECAME THE PURCHASER OF MiE MOTOR BUS FRANCHISE WHEREAS, on November 14th, 1944, the Board of Commissioners of the Gity of Paducah, Kentucky, adopted a resolution granting to the Lexington Railway System, Inc., a franchise to operate motor passenger busses over and upon the streets, avenues and public ways in said city in accordance with the terms of 1.:otor Bus Franchise Ordinance lo. 2, adopted by said board on February 1st, 1944; and, lf_IEREAS, on November 15th, 1944, said company filed vii the City of Paducah, a performance bond vilich is in words and figures as follows, to -wit: "KITO'.7 ALL 1,MIT Bi TIIESE PRESENTS that we, the Lexington Railway System, Incorporated, of Lexington, Fayette County, Kentucky, as Principal, and The Fidelity e, Casulaty Company of New York, as surety, are held and firmly bound to the City of Padi:cah in the penal sum of Five Thousand (;5000.00) Dollars for the payment of which vie jointly and severally bind ourselves, our successors and assigns by these presents. "The condition of thgs Bond is such that if the principal, Lexington Railway System, Incorporated, shall faith- fully perform all the conditions of a Franchise Zranted to it un- der the terms of -Motor Bus Yranch13e Ordinance i.e. II, enacted by the Commission of the City of Taducah, February 1, 1944, by pplyin- and furnishing adequate and sufficient motor transpor- tation as contemplated in said franchise Ordinance and during the life of said Franchise, and will cause this Bond, or renewals thereof, to be continued in force throughout the life of the Franchise, then this Bond shall be null and void, otherwise to remain in full force and effect. "This the 15th day of November, 1944. LEXINGTON RA 7MAY SYSTEM, INCORPORATED By D.D.Stewart ATTEST: President A.Z.Lnoney Secretary THE FIDELITY & CASUALTY COMPANY OF NEW YORK By K.E. Spears Attorney -in -Fact." (SEAL) 1077 AND WHEREAS. on November 15th, 1944 said company also filed with the City of Paducah a duplicate of the original Public Automobile Policy issued by the Nartford Accident and Inddmnity Company, to the Kentucky Utilities Company, Inc., i•olice Number Pub -A 62077, dated December 31st, 1943 and providing coverage (Bodily injury liability - r50,000.00 each person and `f150.000.00 each accident; and Property damage liability - ,,5000.00 each accident'., from December 31st 1943 to December 31st, 1944 at 12:01 A.T.I. Standard time, and which policy contained the followin;; endorsement: "IT IS UNDERSTOOD AND AGREED that this policy is hereby transferred to cover in the name and for the benefit and interest of aLEXT-NGTON RAILVIAY StjTEM, INCORPORATED', and ceases to cover as oriZinally written. "(Policy covering on equipment operated by the Lexington Railway System, Incor-orated, in Paducah, Kentucky, under the name of Paducah Bus Company.) "This endorsement to take effect on the 15th day of November 1944, at 12301 A.I,'.. Time of Day -standard Time) "Nothin, herein contained shall bo held to vary, waive, alter, or extend any of the terms, conditions, agreements, or warranties of the under mentioned policy, other than as above stated. "Attached to and forming part of Policy No. PUB -A-62077 issued by the HARTFORD ACCIDCNT A'M INDEI.:IdI.Y COTIPANY, of Hartford Conn., in favor of Kentucky Utilities Company, Inc., of Paducah, Kentucky, but the same shall not be binding unless countersigned b the duly authorized agent of the Company. J.L. Barter Paul Rutherford Secretary President Countersigned at Paducah, !{y, the 15th da•f of November, 1944. I70ODALL & MELTON By S.R.:'Joodall Authorided Agent" NOF' THEREFORE, BE IT RESOLVED BY THE BOARD OF COMI,,ISSIONERS OF TIS CITY OF PADUCAH, I'.ENTUC-�y: SECTION 1. That the aforesaid performance bond and liability insurance policy be, and the same are hereby Oi'ficially received filed and approved as of November 15th, 1944, and the Lexington Railway System, Inc., is authorized to immediately commence the operation of its busses over and along the streets, avenues and public ways of the city in accordance with the terms of said ordinance. SECTION 2. This Resolution shall be in full force and effect from and after its adoption. Passed by the Board of Commiz:sioners, 1944 Nov. 21, Recorded by Rudy Stewart, City Clerk, Nov. 21, 1944.