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This entry was published on 2014-09-22
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SECTION 36-A
Municipal operation; deficiencies
Rapid Transit (RAT) CHAPTER 48-A, ARTICLE 4
§ 36-a. Municipal operation; deficiencies. If the board of
transportation shall undertake or engage in public or municipal
operation of any railroad pursuant to the authority of this chapter, the
city shall provide for the payment of any expenses of operation,
maintenance, interest, principal payments on indebtedness, contribution
to sinking funds, and reserves on account of depreciation, to the extent
and in the amount not provided for by the revenues derived from such
operation. For such purposes such city shall, with respect to any such
expenses heretofore or hereafter not provided for by revenues derived
from operation, use money raised by taxation. Nothing in this section
contained shall be construed to imply that the powers herein defined
have not heretofore been vested in such city by law.