1762 RESOLUTION NO. 1762
A RESOLUTION PROVIDING FOR FARES TO BE CHARGED BY THE
CAPITAL TRANSPORTATION CONPANY IN THE CITY OF LITTLE ROCK
AND FOR OTHER PURPOSES.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LITTLE ROCK:
Section 1. The Capital Transportation Company
having demonstrated that its expenses have risen and its
revenues having 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 increase its fares on an
emergency basis for a period beginning with the effective
date of this Resolution and extending for a period not to
exceed six months, so as to receive the following fares :
Adults: 2 tokens for 15 cents or scents 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
passenger paying adult fare.
Section 2. The fares permitted to be charged in
Section 1 of this Resolution shall be on a six months trial
or emergency basis during which tine said Company shall
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 sufficient 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 has fixed the fares
and charges and rate of return said Company shall earn,
if it is determined by said Comission that during said six
months enErgency period the Company has earned on its fares
collected in the City of Little Rock more than said reason-
able 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 operates.
Section 3. The citizens of Little Rock being
in need of an adeouate transportation system which is
financially sound and being in further need of maintenance
and resurfacing on certain streets over which the Capital
Transportation Company operates and. the Company being un-
able to meet operating expenses without an increase in
fares and this Resolution being necessary for the pre-
servation of the public peace, health and safety an
emergency is hereuy declared and this Resolution shall
take effect and be in force upon its passage.
XX3GXX` x
ADOPTED: August 18, 1947
ATTEST: f 1S^APPROV : Au. ;1 , 1947.
//
ty Clerk _� Mayor.
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wAYOR'S VETO SUSTAINED. 5-25-47