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ORDINANCE NO. 14,508
AN ORDINANCE APPROPRIATING FUNDS FOR THE
PURCHASE OF TAXIMETERS FOR LEASE, WITH
PURCHASE OPTION, TO TAXICAB OPERATORS AND
FOR INFORMATIONAL SIGNS; DECLARING AN
EMERGENCY.
BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY OF
LITTLE ROCK, ARKANSAS:
Section 1. There is hereby appropriated from the general
fund the sum of $42,000.00 to enable the City Manager to purchase
taximeters for leasing to existing taxicab operators in the City,
with purchase option, to facilitate their compliance with
Ordinance No. 14,431, as amended; and there is hereby
appropriated from the general fund the sum of $5,000.00 to enable
the city Manager to purchase informational signs to be provided
for each taxicab operated in the City; provided that each taxicab
operator shall be entitled to lease in accordance with this
arrangement only that number of taximeters which equals the
number of taxicabs he is operating on the effective date of this
ordinance.
Section 2. The lease rental for each taximeter shall be
$448.00 for a term of three years.
Section 3. Each taxicab operator, upon entering into
his lease with purchase option, shall deposit with the City
Collector the sum of $100.00 per taximeter, plus a one -year
premium for casualty insurance for each taximeter with some
insurer approved by the Administrator designated in Ordinance No.
14,431, as amended. The $100.00 deposit shall be credited to the
total lease rental, and the balance of $348.00 shall be paid in
three equal yearly installments, with interest at the rate of ten
and a half percent per year, the first of such installments to be
paid on January 1, 1985, the remaining installments to be paid on
the first day of January in the two succeeding years.
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Section 4. The yearly casualty insurance premium shall
also be paid at the time of paying the lease rental and interest
as aforesaid along with the yearly permit fee.
Section 5. At the beginning of the third year of the
lease term each taxicab operator shall pay to the City Collector
the sum of $48.00 per taximeter to defray the costs of a
maintenance contract for each taximeter for such third year.
Section 6. Each taxicab operator shall have the
privilege of pre - payment in part or in full without penalty.
Section 7. Upon the full payment of his lease rental
with respect to a taximeter, the title to such taximeter shall
vest in the taxicab operator without further action on the part
of the City.
Section 8. It has been found and is determined by the
Board of Directors that the City's opportunity to acquire
taximeters on terms sufficiently favorable to enable the City to
provide such taximeters to the City's taxicab operators at
affordable cost is severely limited as to time; that unless this
opportunity is seized forthwith, the opportunity will probably be
lost; that such consequence would jeopardize the entire City plan
for the regulation of the taxicab business; that the City's plan
of regulation, made necessary by recent developments detrimental
to the ability of many citizens to pay for public transportation,
cannot be implemented without the passage of this measure
immediately. Therefore, an emergency is declared to exist, and
this ordinance, being necessary for the preservation of the
public peace, health, and safety, shall take effect and be in
force from the date of its approval.
PASSED: September 20, 1983
ATTEST: APPROVED:
• J. W. Beifafiel&V?m�__Y
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