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SB 916 Senate Bill - AMENDED Page 22 of 29 9 - D-W required to meet its obligations on any bonds or to satisfy its covenants under any bond resolution or indenture. The authority shall hold a public hearing before adopting a toll schedule reflecting the increased toll charge. (d) Nothing in this section shall be construed to prohibit the adoption of either a discounted commute rate for two -axle vehicles or of special provisions for high- occupancy vehicles under terms and conditions prescribed by the authority in consultation with the department. SEC. 69. Section 30917 of the Streets and Highways Code is repealed. SEC. 70. Section 30917 is added to the Streets and Highways Code, to read: 30917. Pursuant to a special election in 1988 held in the City and County of San Francisco and the Counties of Alameda, Contra Costa, Marin, San Mateo, Santa Clara, and Solano, the voters approved a uniform toll charge of one dollar ($1) for class I vehicles crossing the state -owned toll bridges within the geographic jurisdiction of the commission. Except as provided in Section 30914, the revenue derived from that toll increase shall be used to finance capital outlay for bridge construction and major bridge improvements as is fiscally practicable. SEC. 71. Section 30918 of the Streets and Highways Code is amended to read: 30918. It is the intention of the Legislature to maintain tolls on all of the bridges specified in Section 30910 at rates sufficient to meet any obligation to the holders of bonds secured by the bridge toll revenues. The authority shall retain authority to set the toll schedule as may be necessary to meet those bond obligations and to satisfy its covenants under any bond resolution or indenture. SEC. 72. Section 30919 of the Streets and Highways Code is amended to read: 30919. (a) Consistent with its adopted regional transportation plan, after the requirements for debt service on the outstanding toll bridge revenue bonds have been met, the commission shall allocate the revenues identified in subdivision (b) of Section 30913 to eligible public entities and to the department. (b) The revenues expended pursuant to paragraph.(4) of subdivision (a) of Section 30914 shall be expended on rail extension and improvement projects designed to reduce vehicular traffic congestion on the San Francisco - Oakland Bay Bridge. Seventy percent of the revenues shall be expended on rail extensions and improvement projects in the Counties of Alameda and Contra Costa, including, but not limited to, extending the regional rail system in the Concord - Antioch, Fremont -San Jose, and the Bayfair- Livermore rail transit corridors. The remaining 30 percent shall be expended on rail extensions and improvement projects in the City and County of San Francisco and the Counties of San Mateo and Santa Clara. (c) The commission may commit to multiyear allocations and expenditures for projects over extended time periods to maximize funding opportunities and project progress. SEC. 73. Section 30920 of the Streets and Highways Code is amended to read: 30920. The authority may issue toll bridge revenue bonds to finance any or all of the projects, including those specified in Sections 30913 and 30914, if the issuance of the bonds does not adversely affect the minimum amount of toll revenue proceeds designated in Sections 30913 and 30914 for rail extension and improvement projects and transit projects to reduce vehicular traffic. A determination of the authority that a specific project or