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LION ROCK CABLE CAR
Wednesday, August 2, 1972
Plans for a suspended cable car system leading to Lion Rock advanced
a step further today.
The Legislative Council adopted a resolution setting out briefly the
basic conditions for a tender franchise for the system.
In moving the resolution, the Financial Secretary, the Hon. C.P.
Haddon-Cave, said that the proposal was to grant by tender a franchise to
operate the system together with a private treaty grant of the terminal sites.
He said that in addition to the tendered annual premium and the
premium on the terminal sites, a royalty of 10 per cent was to be charged on
the gross operating receipts and all advertising:
"In due course, it will be necessary to define the respective
responsibilities of the operating company and the Government by legislation,"
he added.
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