Section 30638.2 Of Article 5. Rapid Transit Facilities And Service From California Public Utilities Code >> Division 10. >> Part 3. >> Chapter 5. >> Article 5.
30638.2
. Notwithstanding Section 30638, all net income from fees,
charges, rents, profits, or other net income arising from joint
development of the property of the district which was acquired
exclusively for the rail rapid transit system shall be used only for
the following purposes:
(a) Pay the capital and operating expenses of the rail rapid
transit system.
(b) Provide for the payment of interest and principal of the
bonded debt for the rail rapid transit system, subject to the
applicable provisions of this part authorizing the issuance and
retirement of bonds.
(c) Provide for the payment of contracts, agreements, leases,
equipment, and other legal liabilities assumed under Chapter 8
(commencing with Section 31000).
As used in this section, "operating expenses" includes the
expenses of operation, maintenance, and repair of all personal or
real property physically or functionally related to rail rapid
transit services or facilities.