HomeMy WebLinkAbout03844 ORD - 08/18/1954I
&16:AC:8/4/54
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AN ORDINANCE
FIXING A TWO PERCENT 2a GROSS REVENUE OF
CITY PERMIT FEE AND/OR STREET RENTAL CHARGE, AND DETERMINING
HOW SAME IS TO BE COMPUTED FOR A PERIOD OF PrdO (2 YEARS
FROM THE ENACTMENT HERE ND PROVIDING FURTHER AUTOMI "TIC
EXTENSION OF SAME IN THE ABSENCE OF ALTERATION OR AMENDMENT.
WHEREAS, OWNERS AND OPERATORS OF OMNIBUSES NOW OPERATING OVER AND
UPON THE STREETS OF THE CITY OF CORPUS CHRISTI FURNISH AND GRANT TO THE GENERAL
PUBLIC A NECESSARY SERVICE; AND
WHEREAS, THE CITY OF CORPUS CHRISTI 15 EMPOWERED BY STATE LAW TO EN-
ACT A TWO PERCENT (2n) OF THE GROSS REVENUE PERMIT FEE AND/OR STREET RENTAL
CHARGE; AND
WHEREAS, IT HAS BEEN DETERMINED BY A SURVEY, STUDY AND CONSIDERATION
OF THE PROBLEM THAT SUCH OWNERS AND OPERATORS HAVE BEEN VOLUNTARILY PAYING SUCH
GROSS REVENUE CHARGE FOR A CONSIDERABLE PERIOD OF TIME BUT ARE CONFRONTED WITH
THE CURRENT AND FUTURE PROSPECTS OF OPERATING SUCH OMNIBUSES WITHOUT PROFIT
AND/OR AT A LOSS; AND
WHEREAS, IT HAS BEEN DETERMINED FROM THE DATE OF ENACTMENT OF THIS
ORDINANCE THAT SUCH OWNERS AND OPERATORS SHOULD BE PERMITTED TO MAKE A REASONABLE
NOMINAL PROFIT ON EQUITY CAPITAL, AS WELL AS THAT THE CITY IS.ENTITLED TO A
REASONABLE PERMIT FEE WHEN SUCH OPERATIONS ARE PROFITABLE; AND
WHEREAS, THAT THIS ORDINANCE IS CONSIDERED AS ADOPTED ON THE BASIS
OF PRESENT PUBLIC CONDITIONS AND WITH THE RESERVATION OF FURTHER AUTHORITY TO
REVISE AND ADJUST THE MANNER OF COMPUTATION OF SUCH PERMIT FEE AND STREET RENTAL
CHARGES HEREIN PROVIDED UNDER CONDITIONS AS THEY MAY EXIST DURING THE PERIOD
UP TO AND INCLUDING TWO (2) YEARS FROM THE ADOPTION HEREOF:
NOS;', THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS:
SECTION 1. ALL PERSONS, FIRMS, CORPORATIONS OR ASSOCIATION OF
PERSONS ENGAGED IN THE BUSINESS OF OPERATING OMNIBUSES OVER AND UPON THE STREETS
OF THE CITY OF CORPUS CHRISTI (SAVE AND EXCEPT BUSES OPERATED ON ROUTES AND
SCHEDULES UNDER RAILROAD COMMISSION OF TEXAS OR INTERSTATE COMMERCE COMMISSION
PERMITS, WHICH ARE HERESY EXPRESSLY EXCLUGCD) SHALL PAY ANNUALLY TO THE CITY OF
CORPUS CHRISTI TWO PERCENT (2%) OF THE GROSS REVENUE DERIVED FROM THE OPERATION
OR USE OF SAID OMNIBUSES, AS A CITY PERHI �T.}�-F��- Ej(EE AND/OR STREET RENTAL CHARGE,
1
SAME BEING DUE AND PAYABLE WITHIN SIXTY (60) DAYS AFTER THE CLOSE OF EACH
FISCAL YEAR ENDING SEPTEMBER 30TH OF EACH YEAR; PROVIDED, HOWEVER, THAT NO
TAX SHALL BE PAYABLE EXCEPT FROM EARNINGS OVER AND ABOVE EARNINGS EQUILAVENT TO
SIX PERCENT (6%) AFTER PAYMENT OF FEDERAL TAXES ON EQUITY CAPITALS EQUITY
CAPITAL AS USED HEREIN BEING DEFINED AS "CAPITAL STOCK PLUS EARNED SURPLUS ".
SECTION 2. THAT THIS TWO PERCENT (2%) OF THE GROSS REVENUE AS A
CITY PERMIT FEE AND/OR STREET RENTAL CHARGE FOR THE OPERATION OF ALL OMNIBUSES
WITHIN THE CITY OF CORPUS CHRISTI, AS COMPUTED IN THE FOREGOING SECTION 1� SHALL
CONTINUE AND BE IN EFFECT FOR TWO (2) YEARS FROM THE DATE OF THE ADOPTION HEREOF
AN4UNLESS ALTERED OR AMENDED, SHALL CONTINUE IN EFFECT THEREAFTER.
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That the foregoing ordinance 7n -read fort first time and passed
to its second reading on this the day of 01954, by the
following vote,
P, C. Callaway
-Eliroy King
James So Naismith
N. James $rase
F. -P. fttvssono Jr,
That the foregoing ordinance was -read for the second time and passed
to its third reading on this the �Lday of ,1954, by
the following vote-
P. C, Gallaway _GL
Ellroy ring
James S. Naismith
W. James Brace
F, Pa Peterson, Jr
Ttiat the b f�aregoi ordinance was ad for the third time and passed
fziaally on -this th e day of , 1954, by the follow-
. �
ing vote%
P, C.
Callaway
Ellroy King -
James S. Nai
.N. James Bra
F. P. Peters
PASSED AND APPROM, This t
V
City Secret- y
APPROVED -AS T q-LE;AL FORK
n- .- !�
ty Attorney /
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