R98-57 APPROVING SPECIFICATIONS AND AUTHORIZING REQUEST FOR PROPOSALS

Home Browse Search

other insurance coverage which is customarily maintained by the transit industry with respect to si.milar transit operations. 12) All insurance policies shall by their terms or by specific endorsement designate the City and Operator as co-insureds. City shall reimburse Operator for the premium or other expense to Operator arising from the furnishing by Operator of the bonds and contracts of insurance required by the Agreement between the City and Operator. 13) Operator shall operate said transit system on the days, during the hours and over the routes with such scheduling, and at such fazes as shall be approved or directed by the City from time to time. 14) Operator sha11 collect on behalf of the City and pay over to the City and account for to the City a11 revenue, fares and other income arising from the operation of the transit system, all of which shall be the property of the City. 15) Operator shall deposit in a bank, or in banks, designated by the City all monies collected under the provisions hereof at such times and in such manner as may be directed by the City from time to time, and shall keep such daily and other periodic records as City may direct, and shall transmit the same to City in the i manner and form designated by City and shall keep and preserve, or if directed by I City shall deliver to City, such tickets, receipts or other documents or instruments I, as City may direct to substantiate the records, books, and accounts of Operator to ' be kept by Operator in accordance with accepted good accounting practices as may be directed by the City under the terms hereof, and shall permit City, through such personnel as it may authorize, to examine and audit said records, books, and accounts at any and all reasonable times as City may elect, and Operator shall reimburse the City for any shortage or loss or overcharge, other than losses from theft, robbery or other causes beyond the control of Operator or its employees, that may be disclosed by such audit or examination. No funds shall be withdrawn from said bank, or banks, except upon the order of the City. 16) In addition to the reimbursement elsewhere provided for in this Agreement between the City and Operator, City shall also pay a fee to Operator for operation, management and supervision services. Such payments shall be made in twelve monthly installments on or before the 15th day of each month. City shall also pay the actual traveling and reasonable per diem expenses of consultants providing the requested assistance set out in Paragraph 3 hereof. 17) It shall be the responsibility of the Operator to pay without reimbursement by City, for moving expenses of the Resident Manager, as well as his training costs and any expense associated with attending major conferences, such as the annual meeting of the American Public Transit Association.