§ 39-18-9 Revenues. – The authority is hereby authorized and empowered to fix and revise from time totime, such schedules of service and such rates of fare and charges for servicefurnished or operated as it determines to be reasonable. The schedules ofservice, rates of fare, and charges for service shall not be subject tosupervision or regulation by any commission, board, bureau, or agency of thestate or of any municipality or other political subdivision of the state;except as provided in § 39-18-4. Provided, however, if there are anychanges in frequency of services of more than fifteen percent (15%), providersof service, rates of service, other than system wide changes, and charges forservice shall be presented for comment at least one public hearing scheduled inan accessible location in each county affected, and the hearing shall bescheduled in two (2) sessions, one during daytime business hours and one duringevening hours. The revenues derived from the authority's operations and anyother funds or property received or to be received by the authority (including,without limitation, any funds or other property received or to be received bythe authority pursuant to § 39-18-4(a)(10)), in whole or in part, at anytime and from time to time, may be pledged to, and charged with, the payment ofthe principal of and the interest on some or all of the authority's bonds asprovided for in the resolution authorizing the issuance of the bonds or in thetrust agreement securing the bonds. The pledge shall be valid and binding fromthe time when the pledge is made; the revenues, funds, or other property sopledged, and thereafter received by the authority, shall immediately be subjectto the lien of the pledge without any physical delivery thereof or further act,and the lien of any pledge shall be valid and binding as against all partieshaving claims of any kind in tort, contract, or otherwise against theauthority, irrespective of whether the parties have notice thereof. Neither theresolution nor any trust agreement by which a pledge is created need be filedor recorded except in the records of the authority.
§ 39-18-9 Revenues. – The authority is hereby authorized and empowered to fix and revise from time totime, such schedules of service and such rates of fare and charges for servicefurnished or operated as it determines to be reasonable. The schedules ofservice, rates of fare, and charges for service shall not be subject tosupervision or regulation by any commission, board, bureau, or agency of thestate or of any municipality or other political subdivision of the state;except as provided in § 39-18-4. Provided, however, if there are anychanges in frequency of services of more than fifteen percent (15%), providersof service, rates of service, other than system wide changes, and charges forservice shall be presented for comment at least one public hearing scheduled inan accessible location in each county affected, and the hearing shall bescheduled in two (2) sessions, one during daytime business hours and one duringevening hours. The revenues derived from the authority's operations and anyother funds or property received or to be received by the authority (including,without limitation, any funds or other property received or to be received bythe authority pursuant to § 39-18-4(a)(10)), in whole or in part, at anytime and from time to time, may be pledged to, and charged with, the payment ofthe principal of and the interest on some or all of the authority's bonds asprovided for in the resolution authorizing the issuance of the bonds or in thetrust agreement securing the bonds. The pledge shall be valid and binding fromthe time when the pledge is made; the revenues, funds, or other property sopledged, and thereafter received by the authority, shall immediately be subjectto the lien of the pledge without any physical delivery thereof or further act,and the lien of any pledge shall be valid and binding as against all partieshaving claims of any kind in tort, contract, or otherwise against theauthority, irrespective of whether the parties have notice thereof. Neither theresolution nor any trust agreement by which a pledge is created need be filedor recorded except in the records of the authority.
§ 39-18-9 Revenues. – The authority is hereby authorized and empowered to fix and revise from time totime, such schedules of service and such rates of fare and charges for servicefurnished or operated as it determines to be reasonable. The schedules ofservice, rates of fare, and charges for service shall not be subject tosupervision or regulation by any commission, board, bureau, or agency of thestate or of any municipality or other political subdivision of the state;except as provided in § 39-18-4. Provided, however, if there are anychanges in frequency of services of more than fifteen percent (15%), providersof service, rates of service, other than system wide changes, and charges forservice shall be presented for comment at least one public hearing scheduled inan accessible location in each county affected, and the hearing shall bescheduled in two (2) sessions, one during daytime business hours and one duringevening hours. The revenues derived from the authority's operations and anyother funds or property received or to be received by the authority (including,without limitation, any funds or other property received or to be received bythe authority pursuant to § 39-18-4(a)(10)), in whole or in part, at anytime and from time to time, may be pledged to, and charged with, the payment ofthe principal of and the interest on some or all of the authority's bonds asprovided for in the resolution authorizing the issuance of the bonds or in thetrust agreement securing the bonds. The pledge shall be valid and binding fromthe time when the pledge is made; the revenues, funds, or other property sopledged, and thereafter received by the authority, shall immediately be subjectto the lien of the pledge without any physical delivery thereof or further act,and the lien of any pledge shall be valid and binding as against all partieshaving claims of any kind in tort, contract, or otherwise against theauthority, irrespective of whether the parties have notice thereof. Neither theresolution nor any trust agreement by which a pledge is created need be filedor recorded except in the records of the authority.
