HomeMy WebLinkAboutResolution - 032653C - Suspension Of The 2% Annual Gross Receipts Franchise Tax - 03_26_1953 0
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RESOLUTION
A RESOLUTION SUSPENDING THE TWO PER CENT (2%) ANNUAL GROSS RECEIPTS
FRANCHISE TAX IMPOSED BY ORDINANCE NO. 654, AS AMENDED; MAKING EFFECTIVE DATE
OF THE PROVISIONS OF THIS RESOLUTION.
Cory sent '
to Albert WHEREAS, the franchise with the Lubbock Bus Company has been recently
of Lu bboc 'amended to permit the City Commission within its descretion to suspend the impost '
of Lubboc of the two per cent (2%) annual. gross receipts franchise tax; and,
pus Co
& VHEREAS, the City Commission has received an application by the Lubboez
Lynn Bus Company to suspend said tax for an indefinite period and the City Commission
Andrews finds, after due and reasonable consideration of the benefit to the public, the
4-I-53 operating losses of the Lubbock Bus Company under its franchise, and the value of
said franchise, that it would be in the public interest to suspend the imposition
of said franchise as hereinbelow provided; NOW, THEREFORE,
- ( BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK:
SECCTION 1. That on and after the effective date of this Resolution
the two per cent (2%) annual gross receipts franchise tax shall be suspended until
417
` " 1 �4 ` j. such time as the City Commission shall, by resolution, reimpose and reinstate such
td A ►tax.
SECTION 2. This Resolution shall become effective from and after the
r lst day of April , 1953•
AND IT IS SO ORDERED.
On motion of Commissioner Davis , seconded by Commis-
sioner Thomas , the foregoing Resolution was approved and
passed on this 26 day of March , 1953, by the following
vote:
Commissioners voting "MEAN Carpenter, Davis, Morris, Thomas and
Yjayor Tripp
Commissioners voting "NAY": None
ATTEST: _
La enia Lowe, 'City Sec tary-Treasurer
WLS:rr
2-25-53