Ordinance 3320 - Laserfiche WebLink

Should any application for a franchise be filed with the City by any person or persons to compete with the bus trans- portation system of the company, then the City shall give the company at least thirty (30) days written notice of the filing of such application, if such application is to be considered, and an opportunity to be heard at open public hearing to be held at least thirty (30) days subsequent to the serving of such notice upon the company. Section 11 The company will compensate the City for the granting of this SPECIAL TAX- ES franchise by paying to the City annually a sum eoual to two percent (2%) of the gross receipts, as herein defined, derived by the company from its operation of its business in the City of Everett. Gross receipts shall consist of passenger and advertising revenues accruing to the operation of buses on the fixed routes covered by Section 3 within the City, but shall not include sale of capital assets. As to such routes as ex- tend outside the city limits, the gross receipts within the city shall be computed in direct proportion to the route miles operated within the city, except where by reason of State laws the City shall be prohibited from taxing such revenue. The said sum shall be paid to the City of Everett within sixty (60) days of the close of business for each calendar year. The tax paid hereunder shall be in lieu of any and all taxes to be levied by the City of Everett upon the franchise and operations of the company for a period of ten (10) years, and after the expiration of ten (10) years the City of Everett shall have a right to levy such additional tax or taxes as the City of Everett shall determine proper, all as provided by law. The company operating under this franchise shall submit to the council within sixty (60) days after the first of each year an annual report verified by the president, treasurer or general manager of the company. Such report shall contain such detail- -5-