The Chief of Police is hereby authorized to determine and designate intersections where particular hazards exist upon other than through streets and to determine:
(a) Whether vehicles shall stop at one or more entrances to any such intersection, in which event the Chief of Police shall cause to be erected a stop sign at every such place where a stop is required; or
(b) Whether vehicles shall yield the right of way to vehicles on a different street at such intersection as prescribed in Section 341.07(a), in which event the Chief of Police shall cause to be erected a yield sign at every place where obedience thereto is required.
(1974 Code Sec. 3-64)