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• • ' <br /> • <br /> or before sixty days after the first of January each year file a <br /> verified annual report. Such report shall contain such detailed in- <br /> formation and cover such period as may be prescribed by the coupOil <br /> by ordinance and the council shall have the power either through its <br /> members or by experts or employees duly authorized by it to examine <br /> the books and affairs of grantee and compel the production of all <br /> books and papers pertaining to such report or other matters. <br /> Section 9. This franchise is made expressly subject to the con- <br /> dition that the Council shall have the following rights with respect <br /> to the said franchise: <br /> (a) To require of the grantee , the filing of rates, rules and <br /> regulations governing its operations under the terms of this franchise. <br /> (b) To hear and determine what are just, fair and reasonable rates <br /> and charges for public service. <br /> ( c) To require reasonable public extensions, and <br /> (d) To make such rules or regulations as may be required to secure <br /> adequate service. <br /> Section 10. The grantee herein, its successors and assigns hold- <br /> ing this franchise is prohibited from issuing any capital stock on <br /> account of this franchise or the value thereof. <br /> Section 11. No assignment of this franchise shall be effective <br /> without the consent of the City, evidenced by ordinance and not then <br /> until the assignee shall have filed in the office of the City Clerk <br /> an instrument duly executed, reciting the fact of the assignment, accept- <br /> ing the terms of this franchise and agreeing to perform all conditions <br /> required of the grantee hereunder. <br /> Section 12.. In addition to any other remedy herein provided, the <br /> City shall have the authority to forfeit and terminate the rights and <br /> privileges granted herein after notice upon: <br /> (a) Failure on the part of the grantee, to pay to the City prompt- <br /> ly, the full amount of any final judgment recovered against said City <br /> on account of damage suffered by any person or persons or to any pro- <br /> perty and arising out of the grantee ' s enjoyment of any of the rights <br />