New York City says it's launching a bike-sharing program in July.
By next year, it plans to have 10,000 bikes at 600 docking stations around the city.
There's no cost to taxpayers. The program is being sponsored by Citigroup.
Under the "Citi Bike" program, people can pay a $95 annual fee to ride the blue, 3-speed bikes.
For annual members, rides of up to 45 minutes will be free. They'll be automatically billed a set rate for longer rides.
Short-term users, including tourists, will be able to sign up, too.
Officials are hoping people will use the bikes for quick rides from point to point.
Anyone who loses a bike while participating in the program will be charged $1,000.
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