§ 306 — Rates, fares, and charges

§ 306. Rates, fares, and charges. A railroad redevelopment corporation\nshall be entitled to maintain such rates, fares, and charges as will\nenable such corporation to have sufficient operating revenues and other\nincome in any twelve months of its existence as a railroad redevelopment\ncorporation to provide for the following items during that twelve-month\nperiod:\n (1) Operating expenses, except (a) accruals and charges for\ndepreciation, amortization, and retirements, and (b) expenses incurred\nas costs of the improvement and rehabilitation program of such\ncorporation specified in its certificate of approval;\n (2) Railway tax accruals;\n (3) Equipment and joint facility rents;\n (4) Miscellaneous deductions from income;\n (5) Rent for leased roads and equipment;\n (6) Interest and principal payments on equipment obligations\noutstanding at the time of its qualification as a railroad redevelopment\ncorporation, and such other deductions and such other payments on its\nindebtedness and stock as are not prohibited by its certificate of\napproval;\n (7) Expenditures in connection with grade crossing elimination\nprojects, including interest and principal payments on obligations\nincurred for such purpose before or after the time of its qualification\nas a railroad redevelopment corporation;\n (8) Expenditures for grade crossing protection; bridge construction,\nreconstruction, and replacement; and similar projects;\n (9) The amount, determined by proration if necessary, specified in\nsuch corporation's certificate of approval as required in that\ntwelve-month period to pay the costs of such improvement and\nrehabilitation program; and\n (10) The amount of any net deficiency theretofore incurred during its\nexistence as a railroad redevelopment corporation in the aggregate\namount required to provide for items (1) through (9).\n