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California Law (Last Updated: March 4, 2014) |
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Public Utilities Code - PUC |
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Division 10. TRANSIT DISTRICTS |
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Part 2. SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT |
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Chapter 6. Powers and Functions of District |
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ARTICLE 5. Rapid Transit Facilities and Service |
Section 29038.
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The rates and charges for service furnished pursuant to this part shall be fixed by a two-thirds vote of the board and shall be reasonable. Insofar as practicable, the rates shall be fixed so as to result in revenue which will be sufficient to do all of the following:
(a) Pay the operating expenses of the district.
(b) Provide for repairs, maintenance, and depreciation of works owned or operated by the district.
(c) Provide for the purchase, lease, or acquisition of rolling stock, including provisions for interest, sinking funds, reserve funds, or other funds required for the payment of any obligations incurred by the district for the acquisition of rolling stock.
(d) After making any current allocation of funds required for the foregoing purposes and by the terms of any indebtedness incurred under Articles 6 (commencing with Section 29240) and 7 (commencing with Section 29250) of Chapter 8, provide funds for any purpose the board deems necessary and desirable to carry out the purposes of this part.