2006 New York Code - Rates, Fares, And Charges.

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