7393ORDINANCE NO. 7393•
AN ORDINANCE PROVIDING FOR FARES TO BE CHARGED BY THE CAPITAL
TRANSPORTATION COMPANY IN THE CITY OF LITTLE ROCK, ARKANSAS,
AND FOR OTHER PURPOSES.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LITTLE ROCK,
ARKANSAS:
Section 1. The Capital Transportation Company having
demonstrated that its expenses have risen and its revenues
dropped to such an extent that said Company is operating at
a loss and said Company needing additional revenues in order
to keep from operating at a loss, said Company is hereby
authorized to adjust its fares on an emergency basis for a
period beginning with the effective date of this Ordinance,
so as to receive the followingfares:
Adults: Seven Cents for single ride.
Children under twelve: 10 tokens for 25 cents.
School Children: 10 tokens for 25 cents (during
hours as defined in Ordinance
No. 876 and amendments.)
Children under five: Free, if accompanied by pass-
enger paying adult fare.
Section 2. The fares authorized to be charged in
Section 1 of this Ordinance shall be on an emergency basis
but the Company shall immediately make application to the
Arkansas Public Service Commission, 'the State body having
jurisdiction over such matter, for the purpose of fixing the
proper fares in order to enable said Company to collect suf-
ficient revenue to provide a reasonable rate of return on
its investment after paying all operating expenses, taxes,
maintenance, depreciation and amortization of its property
and investment. After the Arkansas Public Service Commission
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has fixed the fares and charges and rate of return said
Company shall earn, if it is determined by said Commission that
during said emergency period the Company has earned, on its
fares collected in the City of Little Rock, more than said
roasanable rate of return fixed,by said commission, then said
Company shall pay such excess into the Street Maintenance Fund
for use on the streets on routes over which the Company oper-
ates. `
Section 3. All resolutions, ordinances, or parts of
ordinances in conflict herewith are hereby repealed.
Section 4. The citizens of Little Rock being in need
of an adequate transportation system which is financially
sound and being in further need of maintenance and resur-
facing on certain streets over which the Capital Transporta-
tion Company operates, and the Company being unable to meet
operating expenses and obligations without an.adjustment in
fares, and this Ordinance being necessary for the preservation
of the public peace, health and safety, an emergency is hereby
declared and this Ordinance shall take effect and be in force
upon its passage.
APPROVE :
IUZa y c¢
PASSED: August 25, 1947
ATTEST:
y Clerk .