17B-2a-815 - Rates and charges for service.
17B-2a-815. Rates and charges for service.
(1) The board of trustees of a public transit district shall fix rates and charges for serviceprovided by the district by a two-thirds vote of all board members.
(2) Rates and charges shall:
(a) be reasonable; and
(b) to the extent practicable:
(i) result in enough revenue to make the public transit system self supporting; and
(ii) be sufficient to:
(A) pay for district operating expenses;
(B) provide for repairs, maintenance, and depreciation of works and property that thedistrict owns or operates;
(C) provide for the purchase, lease, or acquisition of property and equipment;
(D) pay the interest and principal of bonds that the district issues; and
(E) pay for contracts, agreements, leases, and other legal liabilities that the district incurs.
Enacted by Chapter 329, 2007 General Session