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A.  The board shall fix such fares, rates, rentals, and charges in such amounts as shall be sufficient in the aggregate when added to any other grants or funds available to the authority, to provide funds for the payment of the interest on and principal of all bonds, certificates, and other obligations payable from said revenues, and to meet all other encumbrances upon such revenues as provided by any agreement executed by the authority in connection with the issuance of bonds or certificates under this Chapter, and for the payment of all operating costs and expenses which shall be incurred by the authority, including provisions for appropriate reserves.  

B.  The term “charges” shall include revenues from contracts with the local governments within the metropolitan area under which the authority has agreed to render for them the public transportation service.  

C.  The board shall determine by itself exclusively, but after public hearings as hereinafter provided, the routes, types of construction, equipment, facilities, and the scope and standards of service to be operated by the authority, the scheduled services to be made available to the public and the amounts to be charged therefor.  Before making any determinations as to scheduled services or amounts to be charged therefor, the board first shall hold at least one public hearing after giving notice of the time and place by twice advertising on different days in the newspaper having the largest circulation in the regional area not more than ten days nor less than five days prior to the hearings.  As to all other matters, the board may hold such public hearings as it deems appropriate, and as to all public hearings, it may prescribe reasonable rules and regulations to govern such hearings not inconsistent with this Chapter.  

D.  Prior to determining the basic routes over which the authority shall operate its system and stations connected therewith, the board shall consult with the local governing body of the territory involved, and, additionally, shall hold at least one public hearing within the territory of each local government within the regional area at which the local governing body, or its representative, and the public may be heard.  

Added by Acts 1979, No. 439, §1, eff. Aug. 1, 1979.