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HomeMy WebLinkAbout4764 yr RESOLUTION NO. 4,764 A RESOLUTION APPROVING THE PROPOSED AGREEMENT BETWEEN THE CITY OF LITTLE ROCK, THE CITY OF NORTH LITTLE ROCK, PULASKI COUNTY, AND METROPLAN PERTAINING TO THE ACQUISITION AND OPERATION OF THE PUBLIC TRANSPORTATION SYSTEM IN THE METROPOLITAN AREA; AND FOR OTHER PURPOSES BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS. SECTION 1. The attached agreement in form and substance as written between the City of Little Rock, the City of North Little Rock , Pulaski County and Metroplan providing for the acquisition, ownership and operation of the public transportation facilities and services in the Metropolitan area of Little Rock and North Little Rock is hereby approved and the same is incorporated herein by reference the same as though set out herein word for word. The Mayor and City Clerk are hereby authorized acting for and on behalf of the City of Little Rock to execute said Agreement. SECTION 2 . This Resolution shall be in full force and effect from and after its adoption. ADOPTED: March 21, 1972 ATTEST : APPROVED: % City Cler Mayor A G R E E M E N T An Agreement between the City of Little Rock, the City of North Little Rock, Pulaski County, and Metroplan, a public non- profit corporation organized pursuant to the laws of the State of Arkansas , and other public bodies operating within Pulaski County, State of Arkansas , to provide public transportation facilities and services in the metropolitan areas of Little Rock and North Little Rock, Arkansas and in other areas of Pulaski County, Arkansas. ARTICLE I - AUTHORIZATION AND PURPOSE Pursuant to the provisions of Act 430 , Acts of Arkansas, 1967, the City of Little Rock, the City of North Little Rock, Pulaski County, and Metroplan agree to join cooperatively in the acquisition of the physical assets of Twin City Transit, Inc. in an endeavor and undertaking to maintain and improve public transportation facilities and services in the cities of Little Rock, North Little Rock, and other areas within Pulaski County, Arkansas. ARTICLE II - POWERS, DUTIES AND FUNCTIONS OF THE PARTIES The City of Little Rock, the City of North Little Rock and Pulaski County, Arkansas jointly agree and bind themselves to provide funds in the total amount necessary to purchase the physical assets cf Twin City Transit, Inc. , an Arkansas corpor- ation, the present holder and operator of the public transpor- tation franchise in the Cities of Little Rock and North Little Rock, with the understanding that a portion of the funds necessary to acquire the said assets will be provided by the United States of America based on an application therefor previously made by Metroplan. . Legal title to the assets pu -chased and to such as may hereafter be acquired by parties this Agreement shall be in Metroplan and held in trust for the exclusive purposes and sub- ject to the terms and conditions Provided by this Agreement and in no instance shall such become co-mingled or become a part of other assets, if any, of Metroplan for any purpose whatsoever. All capital funds required in the acquisition of the assets herein identified and/or future capital purchases deemed neces- sary in the premises shall be underwritten and provided by the following identified parties to this agreement in the percentage set opposite each such party: The City of Little Rock, Arkansas 50 % The City of North Little Rock, Arkansas 25 % Pulaski County, Arkansas 25 % Metroplan is charged with and assumes the responsibility for the management and operation of the public transportation system herein created and acquired and in such capacity shall be controlled in all undertakings by a transit policy board composed of members to be appointed by and representing the City of Little Rock, the City of North Little Rock, Pulaski County, and Metroplan. It is understood and agreed between the parties that Metro- plan will maintain such separate financial and inventory records as the transit policy board may require of the ownership, operation and maintenance of the public transit system; be responsible for the collection and banking of all revenue from whatever source received in the operation and management of said transit system and provide such periodic audit reports as may be required by the said transit board. It is understood and agreed that Me-:roplan will contract with Metro Transit Management Company, an Arkansas corporation, to operate and manage the public transportation system and all properties , facilities and service now or hereafter to be deemed necessary. That such agreement will require Metroplan to provide such physical properties and funds as may from time to time be needed as determined by the transit policy board to provide the public transportation system herein identified and the management company in turn to provide the management, supervision and -2- operation requirements in such transit system and in such under- taking to provide all personnel as may from time to time be required. In said Agreement Metroplan will advance from time to time based on requests of the management company such funds as may - be necessary to defray the cost of operation of the said system of whatever nature related thereto but subject to approval by the transit policy board. Surplus funds, if any, realized by Metroplan in the operation of said transit system shall be utilized at the direction and discretion of the transit policy board for the purpose of pro- viding additional and/or maintaining physical assets and property deemed proper to maintain a modern, efficient and adequate public transportation system. In the event revenues from the operation of the transit system are inadequate to fund the system in its operation, such deficit shall as from time to time it may occur, be funded from the capital contributions of the City of Little Rock, the City of North Little Rock and Pulaski County, Arkansas in that per- centage amount which the level of service in the geographical areas of each such party bears to the total geographical area of the parties hereto taking into account the factors of bus ridership, density, route mileage, frequency of service, number of bus stops and other relevant service indicators within each party' s geographical area. The percentage contributions of these 4 three parties to a deficit, if any, shall be fixed, determined and assessed by the transit policy board and such assessments and billings shall be made annually at the end of the fiscal year for the transportation system. In the event of a cancellation of this agreement as herein provided the net assets of the public transportation system then in being, if any, shall be liquidated and the proceeds re- turned to the contributing parties to this agreement after all rights of the United States of America have been satisfied in -3- that percentage which each of said parties made contributions thereto as hereinabove set forth. It is understood and agreed that Metroplan has made appli- cation to and will receive from the United States of America federal funds in a yet undetermined amount over a period of years which together with funds provided by the City of Little Rock, the City of North Little Rock and Pulaski County will from time to time be used for capital acquisitions and improvements deemed by the transit policy board needed and proper. No party to this agreement shall be entitled to a refund of its contributions, if any, to the capital of the transit system except upon cancellation of this agreement and liquidation of all the transit assets. The failure on the part of any party hereto to pay any assessment from time to time as may be required by the transit policy board shall effectuate a voluntary with- drawal by the said party from this agreement following which such party shall cease to have rights or voice in the ownership, operation, management and assets of the transit system. It is understood and agreed that any other public agency as defined and provided by said Act 430 , Acts of Arkansas , 1967 , shall from time to time be privileged to join as a party to this agreement by assuming such responsibilities and obligations that may be determined by the transit policy board and realize such benefits, if any, as may be derived in becoming a party to said agreement. The term of this agreement shall be for one (1) year but shall be deemed renewed from year to year unless each and all of the parties hereto agree to a cancellation not later than sixty (60) days prior to December 31, of each calendar year. Further, this agreement is cancellable anytime upon six months 1 written notice, but only with the unanimous consent and agree- ment of all parties to the agreement at the time in question. -4. IN WITNESS WHEREOF, the parties hereto have executed this Agreement by their duly authorized officers or agents as pro- vided for by either Resolutions or Court Orders officially and legally adopted and/or decreed in quadruplicate originals on this day of . 1972 . CITY OF LITTLE ROCK, ARKANSAS ATTEST: BY ge74! ilfit•s•deAlti CITY OF NORTH LITTLE ROCK, ARKANSAS ATTEST: BY PULASKI COUNTY BY County Judge METROPLAN ATTEST: BY Authorized Officer -5-