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ed information and cover such period as may be prescribed by <br /> city council by ordinance. City council shall have power <br /> either through its members or by experts or emp1oyees duly <br /> authorized by it to examine the books and affairs of such com- <br /> pany and to compell the production of all books and papers <br /> pertaining to such report or other matters. In event the com- <br /> pany shall fail to make such report within ten days after <br /> written notice from the City or refuse to permit such examin- <br /> ation, the company shall be liable to a penalty of One Hundred <br /> ($100.00) Dollars and an additional penalty of One Hundred <br /> ($100.00) Dollars for each and every day during which it fails <br /> to file such report or refuse to permit such examination. <br /> Such sum shall be an obligation of the company and may be <br /> recovered by the City in any court having jurisdiction. <br /> Section 12 The company shall not issue any capital stock on account of the <br /> CAPITAL- <br /> IZATIOJ OF franchise or the value thereof. The company shall have no right <br /> FRANvCHISE <br /> to receive, upon a condemnation proceeding brought by the City <br /> to acquire the public utility using such franchise , any return <br /> on account of the franchise or its value. <br /> Section. No sale or lease of this franchise shall be effective until the <br /> TRANSFER OF <br /> FRACHISE assignee or lessee shall have filed in the office of the clerk <br /> an instrument duly executed reciting the fact of the sale or <br /> lease , accepting the terms of the franchise affected, and <br /> agreeing to perform all the conditions required of the grantee <br /> thereunder. The assignee or lessee shall also file a bond in <br /> such amount and with such conditions as the council may require, <br /> which bond shall run to the City as obligee , with sureties <br /> satisfactory to the council, and shall obligate the grantee, <br /> or lessee , to discharge all obligations and liab <br /> ilities im- <br /> posed upon the grantee by the franchise. <br /> Section lL. The city council may at any time declare a forfeiture of this <br /> FORFEITURE <br /> grant for the violation or default by the company of any of <br /> the terms hereof, provided that none of the terms of this grant <br /> -6- <br />