Section 99268 Of Article 4. Claims For Funds From California Public Utilities Code >> Division 10. >> Part 11. >> Chapter 4. >> Article 4.
99268
. The expenditure of the funds received under this article by
an operator may in no year exceed 50 percent of the amount required
to meet operating, maintenance, and capital and debt service
requirements of the system after deduction therefrom of approved
federal grants estimated to be received and funds estimated to be
allocated pursuant to Section 99314.5.
Notwithstanding the 50-percent limitation, the amount budgeted for
capital requirements in any year or other period up to five years,
less the amount of federal and other state funds granted or approved
therefor, may be allocated and expended for capital improvements to a
grade-separated mass transit system, if construction of such
facilities has been found to be not inconsistent with the regional
transportation plan of the transportation planning agency. Within
such five-year period, the transportation planning agency may order
the amount of the allocation in any year to be set aside and
accumulated for accomplishment of the particular project.