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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. 8 _ zl-S�7 wAYOR'S VETO SUSTAINED. 5-25-47