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RESOLUTION TO APPROVE THE SALE OF ALL EQUIPMENT UNDER THE CONTROL OF THE CITY TRANSIT COMMISSION
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WHEREAS, the City Transit Commission of the City of Jonesboro has reported to the council its intention under the powers delegated to it by Sections 2-66 and 2-67 of the Code of Ordinances of the City of Jonesboro to sell all equipment and property under said Commission’s control to City Bus Lines, Inc., a private corporation, for the sum of Three Thousand Six Hundred Dollars ($3,600.00), the Commission thereafter discontinuing further publicly owned bus transportation systems within the City of Jonesboro; and
WHEREAS, it is further reported by such Commission that there will be on hand sufficient monies with which to pay in full the principal amount of all remaining bonds issued under Ordinance No.905 of July 18, 1955 upon the completion of such sale; and
WHEREAS, it appears to be in the best interests of the public and the City of Jonesboro that this sale be made, and further that the said City Bus Lines, Inc. be empowered to establish routes and operate a citywide bus system under the general supervision as to routes and fares of the City Transit Commission beginning September 3, 1963:
IT IS, THEREFOE, RESOLVED BY THE CITY COUNCIL of the City of Jonesboro that the sale of all equipment under the custody and control of the City Transit Commission as outlined above, be and it is hereby approved.
BE IT RESOLVED that the publicly owned bus transportation system be discontinued as of September 3, 1963 and that thereafter City Bus Lines, Inc. be empowered to establish such routes and fares within the City of Jonesboro as may be approved by the City Transit Commission from time to time.
PASSED and ADOPTED this 19th day of August, 1963.