The Director of Public Works, as authorized from time to time by resolution of the City Council, may install and maintain yield right-of-way signs at intersections. The driver of a vehicle approaching a yield right-of-way sign, shall, in obedience to such sign, slow down to a speed reasonable for the existing conditions, or shall stop if necessary, and shall yield the right-of-way to any pedestrian crossing the roadway on which he is driving and to any vehicle in the intersection or approaching on another street so closely as to constitute an immediate hazard.
('68 Code, § 27-38) Penalty, see § 70.99