SECTIONS 67610-67613 - California Statutes

GOVERNMENT CODE

SECTION 67610-67613

67610. (a) If the department contracts with a developer for the
design, construction, operation, and management of the regional
transit terminal, the contract shall require the developer to make
annual payments to the commission sufficient in amount to meet all
obligations assumed by the commission under the provisions of any
bond indenture, including, but not limited to, annual interest,
principal payments, and operating and maintenance costs of the
terminal.
(b) If the department itself undertakes operation of the regional
transit terminal, it shall fix rents, rates, fees, and charges for
occupancy or use of the facilities thereof in compliance with the
terms of any applicable indenture.

67611. Subject to such contractual obligations as may be entered
into by the commission and the holders of bonds issued under this
chapter, the department is authorized to change such rates, rents,
fees, and charges from time to time as conditions warrant.

67612. All rates, rents, fees, and charges shall comply with the
provisions of any applicable indenture. The bond redemption and
interest payments shall, to the extent provided in the indenture,
constitute a first, direct and exclusive charge and lien on all such
rates, rents, fees, charges, and other revenues and interest thereon
received from the use and operation of the regional transit terminal,
and on any sinking or other funds created therefrom; and all such
rates, rents, fees, charges, and other revenues, together with
interest thereon, shall constitute a trust fund for the security and
payment of such bonds and, except as and to the extent provided in
the indenture with respect to the payment therefrom of expenses for
other purposes including administration, operation, maintenance,
improvements or extensions of the regional transit terminal or other
purposes, shall not be used or pledged for any other purpose so long
as such bonds, or any of them, are outstanding and unpaid.

67613. The commission may provide in an indenture that the rates,
rents, fees, and charges established are minimum rates, rents, fees,
and charges and subject to increase or decrease in accordance only
with the terms of the indenture.