The road would cost the city
practically nothing and the obligation of the contractor to equip and
operate being combined with the agreement to construct furnished a
safeguard against waste of the public funds and insured the prompt
completion of the road. The interest of the contractor in the
successful operation, after construction, furnished a strong incentive
to see that as the construction progressed the details were consistent
with successful operation and to suggest and consent to such
modifications of the contract plans as might appear necessary from an
operating point of view, from time to time. The rental being based
upon the cost encouraged low bids, and the lien of the city upon the
equipment secured the city against all risk, once the road was in
operation.
Immediately after the vote of the electors upon the question of
municipal ownership, the Rapid Transit Commissioners adopted routes
and plans which they had been studying and perfecting since the
failure to find bidders for the franchise under the original Act of
1891. The local authorities approved them, and again the property
owners refused their consent, making an application to the Supreme
Court necessary. The Court refused its approval upon the ground that
the city, owing to a provision of the constitution of the State
limiting the city's power to incur debt, would be unable to raise the
necessary money. This decision appeared to nullify all the efforts of
the public spirited citizens composing the Board of Rapid Transit
Commissioners and to practically prohibit further attempts on their
part.
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