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SB 916 Senate Bill - AMENDED <br />P 9 of 29 <br />financing of any toll bridge project. <br />SEC. 98. Section 30885 of,the Streets and Highways Code is amended <br />to read: <br />30885. "Toll bridge" means any state -owned bridge , including the <br />approaches to the toll bridge from the nearest highway that is not <br />for the exclusive use of toll bridge traffic, located within the <br />region under the jurisdiction of the commission. <br />SEC. 99. Section 30886 of the Streets and Highways Code is <br />repealed. <br />SEC. 50. Section 30887 of the Streets and Highways Code is amended <br />to read: <br />30887. The authority may increase the toll rates specified in the <br />adopted toll schedule if this is necessary in order to enable the <br />authority to meet its obligations under any bond resolution or <br />indenture. <br />SEC. 51. Section 30888 of the Streets and Highways Code is <br />repealed. <br />SEC. 52. Section 30889 of the Streets and Highways Code is <br />repealed. <br />SEC. 53. Section 30889.3 of the Streets and Highways Code is <br />amended to read: <br />30889.3. (a) The authority may grant toll -free passage or may <br />adopt a reduced -rate schedule of tolls for vehicles occupied by three <br />or more persons, including the driver, and for buses crossing the <br />bridges. The reduced -rate toll for those vehicles shall be <br />determined by the authority in consultation with the department, and <br />may consist of reduced daily tolls or payment in lieu of daily tolls. <br />If the authority grants toll -free passage or adopts a reduced -rate <br />toll schedule under this subdivision, it shall grant toll -free <br />passage or adopt the same schedule for class I vehicles designed by <br />the manufacturer to be occupied by not more than two persons, <br />including the driver, if these vehicles are occupied by two persons, <br />including the driver. <br />(b) Tolls on the bridges shall be maintained at rates sufficient <br />to meet any covenants or obligations to the holders of bonds secured <br />by the bridge toll revenues, as set forth in any bond resolution or <br />indenture or obligation contained in bonds issued pursuant to the <br />bond resolution or indenture, and the authority shall revise or <br />eliminate the reduced -rate toll schedule adopted pursuant to <br />subdivision (a) as necessary to ensure compliance with those <br />covenants and obligations. <br />(c) The authority may also vary, as it deems advisable, the toll <br />rates applicable to a vehicle operated on the bridges for the <br />carriage of passengers by any municipal or public corporation, <br />transit district, public utility district, political subdivision, or <br />by a transportation company operating under a certificate of public <br />convenience and necessity. <br />SEC. 54. Section 30890 of the Streets and Highways Code is <br />repealed. <br />SEC. 55. Section 30890 is added to the Streets and Highways Code, <br />to read: <br />30890. The authority shall transfer the net transit revenues, as <br />defined in Section 30884, to the commission on a regularly scheduled <br />basis as set forth in the authority's annual budget resolution. <br />SEC. 56. Section 30891 of the Streets and Highways Code is amended <br />to read: <br />30891. The commission may retain, for its cost in administering <br />this article, an amount not to exceed one - quarter of 1 percent of the <br />revenues allocated by it pursuant to Section 30892 and of the <br />revenues allocated by it pursuant to Sections 30913 and 30919. <br />c._........r . .- ._. nnni nncn n,r Un+ �nn,n+ _,., I <br />1 .1,. '­ <br />