Cal. PUC § 29038
This is the official text of Cal. PUC § 29038, part of California’s Public Utilities Code — regulates utilities such as electricity, gas, water, and transportation carriers.
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Official statutory text
The rates and charges for service furnished pursuant to this part shall be fixed by a two-thirds vote of the board and shall be reasonable. Insofar as practicable, the rates shall be fixed so as to result in revenue which will be sufficient to do all of the following:
(a) Pay the operating expenses of the district.
(b) Provide for repairs, maintenance, and depreciation of works owned or operated by the district.
(c) Provide for the purchase, lease, or acquisition of rolling stock, including provisions for interest, sinking funds, reserve funds, or other funds required for the payment of any obligations incurred by the district for the acquisition of rolling stock.
(d) After making any current allocation of funds required for the foregoing purposes and by the terms of any indebtedness incurred under Articles 6 (commencing with Section 29240) and 7 (commencing with Section 29250) of Chapter 8, provide funds for any purpose the board deems necessary and desirable to carry out the purposes of this part.
(a) Pay the operating expenses of the district.
(b) Provide for repairs, maintenance, and depreciation of works owned or operated by the district.
(c) Provide for the purchase, lease, or acquisition of rolling stock, including provisions for interest, sinking funds, reserve funds, or other funds required for the payment of any obligations incurred by the district for the acquisition of rolling stock.
(d) After making any current allocation of funds required for the foregoing purposes and by the terms of any indebtedness incurred under Articles 6 (commencing with Section 29240) and 7 (commencing with Section 29250) of Chapter 8, provide funds for any purpose the board deems necessary and desirable to carry out the purposes of this part.
Status: in_force · Read it on the official government site
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