§ 32. Maintenance and operation by the board of transportation. a. If in the opinion of the board of estimate and the mayor, or in the opinion of the board of transportation, either a contract for equipment, maintenance and operation, or a contract for maintenance and operation as provided in this chapter would be inexpedient, impracticable or prejudicial to the public interest, the board of transportation shall devise and prepare a plan for the maintenance and operation by the board of transportation of any railroad which such city owns or is empowered to acquire or operate by virtue of any law, and any combination of city-owned railroads, or devise and prepare a plan for leasing under a contract the use of the tracks of any railroad for operation of cars thereon during a term of not more than five years for the carrying of passengers and property by one or more persons owning or operating any railroad in the city, or organized for the purpose of operating cars as aforesaid over or upon any such railroad, and when such plan shall have been approved by the board of estimate and the mayor, the board of transportation shall either maintain and operate such road for and on behalf of the city, or allow the use of the tracks of such railroad for the operation of cars for the transportation of persons or property by any such person. The compensation to be made or the rates of fare provided for shall be stated by such board of transportation in any operating contract or plan aforesaid. Whenever it shall seem practicable to reduce rates of fare, the reduction shall in the first instance be in favor of school children, and then, next in order, in favor of all the public between six and nine o'clock ante meridian, and between four and seven o'clock post meridian, and then for all the public from five o'clock ante meridian until seven o'clock post meridian, and, lastly, for all the public at all times.

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b. No part of any road, or of its structures and appurtenances, constructed under the authority of this chapter, shall be used for advertising purposes or for any trade, traffic or occupation, other than required for the operation of such road, except such advertising and such sale of newspapers, periodicals, magazines, books, flowers, confectionery and other similar articles usually sold in railway stations, as from time to time, always with the right of revocation, may be permitted by the board of transportation. Such board, however, may authorize the installation, maintenance and operation of telephones in the stations of such road for public use. Such board of transportation may authorize or enter into a contract for the granting and exercise of such privileges for such period of years and upon such terms and conditions as, in the judgment of such board, the public interests require.