Ordinance 1099Ordinance No. 1099
New Series
AN ORDINANCE AMENDING THE
ALAMEDA MUNICIPAL CODE:. By
AMENDING. SECTION 7 -1114 THEREOF
RELATING TO SELF INSURANCE BY
OPERATORS OF VEHICLE FOR HIRE.
BE IT ORDAINED BY HE COUN-
CIL OF THE CITY OF ALAMEDA as
follows:
Section 1. That Section 7 -1114 of the
Alameda Municipal Code be and the
same is hereby amended to read as
follows::
Section 7-1114_ Public. Vehicle Lia-
bility Policy --ScIf Insurance. 1. Any
person having unencumbered and un-
pled.ged net assets of real and personal
property of at least $25;000, if operating
one and not more than 125 vehicles,
and an additional $250 of such net
assets for each and every vehicle op-
crated in excess of 125, may, in lieu
of the. motor vehicle liability policy
required by Section 7- 1111, -file with
the City . Manager a current balance
sheet, certified to by a certified- pub-
lie accountant; .showing such as�;ets
and : liabilities, together with a policy
of excess insurance, both in such form
as the City Manager may deem proper,
and executed by an insurance com-
pany approved by, said City Manager,
agreeing to :indemnify such person;
firm or corporation.: for any and all
such sums which be shall by law be-
come liable to pay or by final judg-
ment be adjudged.to pay to any other
person, firm or corporation as com
pensation for the injury to, or death
of, or damage to, persons arising out
of the actual operation of any vehicle,
or vehicles, operated by him; provided,
however, that such excess policy shall
cover only the liability for the excess
or doss over $10,000 up to $25,000 for
any one person, or $20,000' up to $50;-
000 for any one accident involving
more than one person.
Any person electing to file a balance
sheet and excess policy of insurance
as herein provided shall thereafter file
with the City Manager, at such period
or periods as may be prescribed by
the City Manager; new balance sheets
certified - to by a certified, public ac-
countant.
2. Any person operating public motor
vehicles for hire who : shall at all
tines maintain a trust fund of $25,=
00 0 on deposit in a bank in Alameda
C.unty under terms and conditions ap-
proved by the City Manager, which
fund shall at all times be available for
payment of any final judg -rent which
may have been rendered against such.
person for iniu °Acs ,o o- death of
persons or damage to .property aris-
ing out of such person's public motor
vehicle operations in'. the City of Ala-
meda, shall be qualified as a self -in-
surer and shall not be subject to the
provisions of Section 7 -1111 and Sec -
tion 7 -1112 of this Code. The deposi-
tary of the trust fund shall agree to
promptly notify the City of the failure
of such person . at any time to main-
tain said deposit at the full amount of
$25,000, and such failure shall be cause
for the immediate suspension of such
person's permit or permits. Persons
self - insuring' under the terms of _ this
sub = section shall, in addition to rn:
and maintaining the.. deposit referred
to, file with the City Manager a policy
of excess P/L insurance, which excel
policy shall cover only the liability for
the excess or loss over $25,000 and up
to $50,000 for any one accident involy-
ing one or more persons,
Section 2. This ordinance shall be
in full force and effect from and
after the expiration of thirty (30) days
from the date of its final passage.
LELAND W. SWEENE"X
Presiding Officer of the .Council
Attest:
SHIRLEY H. TENNIER
City Clerk
I, the undersigned, hereby certify
that the foregoing Ordinance was duly
and regularly. adopted and passed by
the Council of . the City, of Alameda in
regular meeting assembled on the 3rd
day of November, 1953, by the follow -
ing vote, to wit:
APES. Councilman Anderson, ,Tones,
McCall, Moresi and President Sweeney,
(5)_
NOES: -None.
ABSENT: None.
IN WITNESS WHEREOF, I have
hereunto set my hand and affixed the
official seal of said City this 4th
day of November, 1953.
SHIRLEY H. TENNIER
City Clerk of : the City of Alameda
Publish November 5, 1953.