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HomeMy WebLinkAbout5608 RESOLUTION NO 5,608 A RESOLUTION APPROVING AN AMENDED AGREEMENT BETWEEN THE CITY OF LITTLE ROCK, THE CITY OF NORTH LITTLE ROCK, PULASKI COUNTY AND METRO- PLAN PERTAINING TO THE OPERATION OF CENTRAL ARKANSAS TRANSIT; AND FOR OTHER PURPOSES BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS . SECTION 1. The attached Amended Agreement which amends that certain agreement between the Cities of Little Rock and North Little Rock, Pulaski County and Metroplan dated April 19 , 1972 pertaining to the operation of Central Arkansas Transit is hereby approved and the same is hereby 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 Amended Agreement when such is approved by the City of North Little Rock and Pulaski County, Arkansas . SECTION 2 . This Resolution shall be in full force and effect from and after its adoption. ADOPTED: October 19, 1976 ATTEST1, 4 APPROVED: /g401,-- City Cler Mayor , ' `. FIRST AMENDMENT TO AGREEMENT BETWEEN THE CITY OF LITTLE ROCK, THE CITY OF NORTH LITTLE ROCK, PULASKI COUNTY AND METROPLAN This First Amendment to Agreement made and entered into by and between the City of Little Rock, Arkansas, the City of North Little Rock, Arkansas , Pulaski County, Arkansas and Metroplan, a public nonprofit corporation; W I T N E S S E T H: WHEREAS, the parties hereto entered into an Agreement dated April 19 , 1972 for the purpose of providing public transportation services and facilities in the metropolitan areas of Little j ock, North Little Rock and other areas of Pulaski County, Arkansas ; and, WHEREAS, the parties are desirous of making certain changes in said Agreement and deem it to be to the interest of all parties to amend the original Agreement. NOW THEREFORE, THE PARTIES hereto hereby agree and amend Article II of the Agreement between the parties dated April 19, 1972 , to read as follows : I 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 of Twin City Transit, Inc. , an Arkansas corporation, the present holder and operator of the public transportation 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 purchased and to such as may hereafter be acquired by parties to this Agreement shall be in Metroplan and held in trust for the exclusive purposes and subject to the terms and conditions provided by this Agreement and in no instance shall such become commingled or become a part of other assets, if any, of Metro- plan for any purpose whatsoever. Agreement page 2 All capital funds required in the acquisition of the assets herein identified and/or future capital purchases deemed necessary 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 responsibility for the management and operation of the public transit system herein,created and acquired and in such capacity shall be controlled in all under- takings by a Transit Policy Board composed of seven (7) members . The City of North Little Rock and Pulaski County shall each appoint two (2) members and the City of Little Rock shall appoint three (3) members. Members of the Transit Policy Board shall serve at the will of the entity making the appointment and must be residents and qualified electors of the entity making the appointment. At least one of the member appointments made by each of the three governmental parties to this Agreement shall be an elected public official of and representing that unit of government . The Transit Policy Board shall elect its own Chairman and Vice- chairman who shall serve for one year. The Transit Policy Board shall adopt rules for the conduct of its business , establish a quorum and keep a public record of all findings and decisions . It is understood and agreed between the parties that Metroplan 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 Policy Board. It is understood and agreed that Metroplan will contract with a management company, subject to approval of the Transit Policy Board, Agreement page 3 to operate and manage the public transit system and all properties, facilities and service now or hereafter 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 operation requirements in such transit system and in such undertaking to provide all personnel as may from time to time be required. In said agreement Metroplan will advance from time to t,ime 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 providing additional and/or maintaining physical assets and property deemed proper to maintain a modern, efficient and adequate public transportation system. The calendar year January 1 through December 31 shall be the fiscal year for the transit system. On or before December 1 of each year, Metroplan shall submit to the Transit Policy Board, for its approval or disapproval, a proposed budget for the operation of the transit system from January 1 through December 31 of the forthcoming year; provided, however, the budget shall not be finally adopted until it has been referred to and officially approved by Pulaski County and the cities of North Little Rock and Little Rock. Approval by the three governmental entities shall mean their separate official written commitments to budget and appropriate monies to fund that amount of said projected budget that exceeds projected revenues generated by the transit system and other funds received or to be received from whatsoever source. This deficit amount of said budget shall be paid by the three governmental entities from cash con- tributions of the City of Little Rock in the amount of 50%, and the City of North Little Rock and Pulaski County in the amount of 25% each Agreement page 4 all per their commitment to appropriate said funds. Each governmental entity shall pay its percentage share of said deficit in six equal monthly installments commencing January 1 of the budget year. Metroplan shall prepare and submit to the Transit Policy Board within sixty (60) days after the end of each fiscal year a complete report on finances of the transit system for the previous fiscal year. If this report reflects that the projected deficit portion of the budget for the previous year was in fact less than the cash contributions made thereto by the three governmental entities parties to this agreement, then the amount of that difference shall be refunded to the governments in the form of a credit against the ensuing year' s deficit commitments in the percentage amount of their contributions thereto. In the event of a cancellation of this agreement as herein pro- vided the net assets of the public transportation system then in being, if any, shall be liquidated and the proceeds returned to the contri- buting parties to this agreement after all rights of the United States of America have been satisfied in that percentage which each of said parties made contributions thereto as hereinabove set forth. It is understood and agreed that Metroplan has made application 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 on cancellation of this agreement and liquidation of all transit assets. The failure on the part of any party hereto to pay any deficit opera- ting cost assessments herein provided for within the time set forth herein, shall constitute a breach of this agreement and shall effect a voluntary withdrawal by said party from this agreement following which at the option of the other parties hereto such defaulting party shall cease to have rights or voice in the ownership, operation, management and assets of the transit system. 1. Agreement page 5 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 deter- mined 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 written notice, but only with the unanimous consent and agreement of all parties to the agreement at the time in question. II Except to the extent and where this amendment provides to the contrary, each and all of the provisions of the original Agreement between the parties hereto dated April 19 , 1972 shall remain in full I force and effect and be binding upon the parties . IN WITNESS WHEREOF, the parties hereto have executed this Amended Agreement by their duly authorized officers or agents as provided for by either Resolutions or Court Orders officially and legally adopted and/or decreed in quadruplicate originals on this day of , 1976 . 4 CITY OF LITTLE ROCK, ARKANSAS 4 ATTEST: BY City Clerk Mayor CITY OF NORTH LITTLE ROCK, ARKANSAS ATTEST: BY 4 - 4 Agreement page 6 PULASKI COUNTY, ARKANSAS BY County Judge METROPLAN ATTEST: BY Authorized Officer