As Reported by the House Ways and Means Committee 1
122nd General Assembly 4
Regular Session Sub. H. B. No. 228 5
1997-1998 6
REPRESENTATIVES CORBIN-ROBERTS-MOTTLEY-JACOBSON-LEWIS-THOMAS 8
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A B I L L
To amend sections 306.35 and 306.43 of the Revised 11
Code to authorize regional transit authorities to 13
use the lease and leaseback financing technique 14
to finance their facilities, to remove from the 15
Regional Transit Authority Law a reference to an 16
obsolete provision of the Internal Revenue Code 17
of 1954, and to declare an emergency. 18
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO: 20
Section 1. That sections 306.35 and 306.43 of the Revised 22
Code be amended to read as follows: 24
Sec. 306.35. Upon the creation of a regional transit 33
authority as provided by section 306.32 of the Revised Code, and 34
upon the qualifying of its board of trustees and the election of 35
a president and a vice-president, the authority shall exercise in 36
its own name all the rights, powers, and duties vested in and 37
conferred upon it by sections 306.30 to 306.53 of the Revised 38
Code. Subject to any reservations, limitations, and 39
qualifications that are set forth in those sections, the regional 41
transit authority:
(A) May sue or be sued in its corporate name; 43
(B) May make contracts in the exercise of the rights, 45
powers, and duties conferred upon it; 46
(C) May adopt and at will alter a seal and use such seal 48
by causing it to be impressed, affixed, reproduced, or otherwise 49
used, but failure to affix the seal shall not affect the validity 50
of any instrument; 51
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(D) May adopt, amend, and repeal bylaws for the 53
administration of its affairs and rules for the control of the 54
administration and operation of transit facilities under its 55
jurisdiction, and for the exercise of all of its rights of 56
ownership in those transit facilities; 57
(E) May fix, alter, and collect fares, rates, and rentals 59
and other charges for the use of transit facilities under its 60
jurisdiction to be determined exclusively by it for the purpose 61
of providing for the payment of the expenses of the regional 62
transit authority, the acquisition, construction, improvement, 63
extension, repair, maintenance, and operation of transit 64
facilities under its jurisdiction, the payment of principal and 65
interest on its obligations, and to fulfill the terms of any 66
agreements made with purchasers or holders of any such 67
obligations, or with any person or political subdivision; 68
(F) Shall have jurisdiction, control, possession, and 70
supervision of all property, rights, easements, licenses, moneys, 71
contracts, accounts, liens, books, records, maps, or other 72
property rights and interests conveyed, delivered, transferred, 73
or assigned to it; 74
(G) May acquire, construct, improve, extend, repair, 76
lease, operate, maintain, or manage transit facilities within or 77
without its territorial boundaries, considered necessary to 78
accomplish the purposes of its organization and make charges for 79
the use of transit facilities; 80
(H) May levy and collect taxes as provided in sections 82
306.40 and 306.49 of the Revised Code; 83
(I) May issue bonds secured by its general credit as 85
provided in section 306.40 of the Revised Code; 86
(J) May hold, encumber, control, acquire by donation, by 88
purchase for cash or by installment payments, by lease-purchase 89
agreement, by lease with option to purchase, or by condemnation, 90
and may construct, own, lease as lessee or lessor, use, and sell, 91
real and personal property, or any interest or right in real and 93
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personal property, within or without its territorial boundaries,
for the location or protection of transit facilities and 96
improvements and access to transit facilities and improvements, 97
the relocation of buildings, structures, and improvements 99
situated on lands acquired by the regional transit authority, or 100
for any other necessary purpose, or for obtaining or storing 101
materials to be used in constructing, maintaining, and improving 102
transit facilities under its jurisdiction;
(K) May exercise the power of eminent domain to acquire 104
property or any interest in property, within or without its 106
territorial boundaries, that is necessary or proper for the
construction or efficient operation of any transit facility or 107
access to any transit facility under its jurisdiction in 108
accordance with section 306.36 of the Revised Code; 110
(L) May provide by agreement with any county, including 112
the counties within its territorial boundaries, or any municipal 113
corporation or any combination of counties or municipal 114
corporations for the making of necessary surveys, appraisals, and 116
examinations preliminary to the acquisition or construction of 117
any transit facility and the amount of the expense for the 118
surveys, appraisals, and examinations to be paid by each such 119
county or municipal corporation;
(M) May provide by agreement with any county, including 121
the counties within its territorial boundaries, or any municipal 122
corporation or any combination of those counties or municipal 124
corporations for the acquisition, construction, improvement, 125
extension, maintenance, or operation of any transit facility 126
owned or to be owned and operated by it or owned or to be owned 127
and operated by any such county or municipal corporation and the 128
terms on which it shall be acquired, leased, constructed, 129
maintained, or operated, and the amount of the cost and expense 130
of the acquisition, lease, construction, maintenance, or 131
operation to be paid by each such county or municipal 132
corporation;
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(N) May issue revenue bonds for the purpose of acquiring, 134
replacing, improving, extending, enlarging, or constructing any 135
facility or permanent improvement that it is authorized to 136
acquire, replace, improve, extend, enlarge, or construct, 137
including all costs in connection with and incidental to the 139
acquisition, replacement, improvement, extension, enlargement, or
construction, and their financing, as provided by section 306.37 142
of the Revised Code;
(O) May enter into and supervise franchise agreements for 144
the operation of a transit system; 145
(P) May accept the assignment of and supervise an existing 148
franchise agreement for the operation of a transit system; 149
(Q) May exercise a right to purchase a transit system in 151
accordance with the acquisition terms of an existing franchise 152
agreement; and in connection with the purchase the regional 153
transit authority may issue revenue bonds as provided by section 154
306.37 of the Revised Code or issue bonds secured by its general 155
credit as provided in section 306.40 of the Revised Code; 156
(R) May apply for and accept grants or loans from the 158
United States, the state, or any other public body for the 159
purpose of providing for the development or improvement of 160
transit facilities, mass transportation facilities, equipment, 161
techniques, methods, or services, and grants or loans needed to 162
exercise a right to purchase a transit system pursuant to 163
agreement with the owner of those transit facilities, or for 165
providing lawful financial assistance to existing transit
systems; and may provide any consideration that may be required 167
in order to obtain those grants or loans from the United States, 169
the state, or other public body, either of which grants or loans
may be evidenced by the issuance of revenue bonds as provided by 170
section 306.37 of the Revised Code or general obligation bonds as 171
provided by section 306.40 of the Revised Code; 172
(S) May employ and fix the compensation of consulting 174
engineers, superintendents, managers, and such other engineering, 175
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construction, accounting and financial experts, attorneys, and 176
other employees and agents necessary for the accomplishment of 177
its purposes; 178
(T) May procure insurance against loss to it by reason of 180
damages to its properties resulting from fire, theft, accident, 181
or other casualties or by reason of its liability for any damages 182
to persons or property occurring in the construction or operation 183
of transit facilities under its jurisdiction or the conduct of 184
its activities; 185
(U) May maintain funds that it considers necessary for the 188
efficient performance of its duties;
(V) May direct its agents or employees, when properly 190
identified in writing, after at least five days' written notice, 191
to enter upon lands within or without its territorial boundaries 192
in order to make surveys and examinations preliminary to the 193
location and construction of transit facilities, without 194
liability to it or its agents or employees except for actual 195
damage done; 196
(W) On its own motion, may request the appropriate zoning 199
board, as defined in section 4563.03 of the Revised Code, to 200
establish and enforce zoning regulations pertaining to any 201
transit facility under its jurisdiction in the manner prescribed 202
by sections 4563.01 to 4563.21 of the Revised Code; 203
(X) If it acquires any existing transit system, shall 206
assume all the employer's obligations under any existing labor
contract between the employees and management of the system. If 207
the board acquires, constructs, controls, or operates any such 209
facilities, it shall negotiate arrangements to protect the
interests of employees affected by the acquisition, construction, 211
control, or operation. The arrangements shall include, but are 212
not limited to:
(1) The preservation of rights, privileges, and benefits 214
under existing collective bargaining agreements or otherwise, the 215
preservation of rights and benefits under any existing pension 216
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plans covering prior service, and continued participation in 217
social security in addition to participation in the public 218
employees retirement system as required in Chapter 145. of the 219
Revised Code; 220
(2) The continuation of collective bargaining rights; 222
(3) The protection of individual employees against a 224
worsening of their positions with respect to their employment; 225
(4) Assurances of employment to employees of those transit 227
systems and priority reemployment of employees terminated or laid 228
off; 229
(5) Paid training or retraining programs; 231
(6) Signed written labor agreements. 233
The arrangements may include provisions for the submission 236
of labor disputes to final and binding arbitration. 237
(Y) May provide for and maintain security operations, 239
including a transit police department, subject to section 306.352 240
of the Revised Code. Regional transit authority police officers 241
shall have the power and duty to act as peace officers within 242
transit facilities owned, operated, or leased by the transit 243
authority to protect the transit authority's property and the
person and property of passengers, to preserve the peace, and to 244
enforce all laws of the state and ordinances and regulations of 245
political subdivisions in which the transit authority operates. 246
Regional transit authority police officers also shall have the 247
power and duty to act as peace officers when they render 248
emergency assistance outside their jurisdiction to any other 249
peace officer who is not a regional transit authority police
officer and who has arrest authority under section 2935.03 of the 250
Revised Code. Regional transit authority police officers may 251
render emergency assistance if there is a threat of imminent 252
physical danger to the peace officer, a threat of physical harm 253
to another person, or any other serious emergency situation and 254
if either the peace officer who is assisted requests emergency 256
assistance or it appears that the peace officer who is assisted 257
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is unable to request emergency assistance and the circumstances 258
observed by the regional transit authority police officer 259
reasonably indicate that emergency assistance is appropriate. 260
Before exercising powers of arrest and the other powers and 263
duties of a peace officer, each regional transit authority police 264
officer shall take an oath and give bond to the state in a sum 265
that the board of trustees prescribes for the proper performance 266
of the officer's duties. 267
Persons employed as regional transit authority police 269
officers shall complete training for the position to which they 271
have been appointed as required by the Ohio peace officer
training commission as authorized in section 109.77 of the 272
Revised Code, or be otherwise qualified. The cost of the 274
training shall be provided by the regional transit authority. 275
(Z) May procure a policy or policies insuring members of 277
its board of trustees against liability on account of damages or 278
injury to persons and property resulting from any act or omission 279
of a member in the member's official capacity as a member of the 281
board or resulting solely out of the member's membership on the 282
board;
(AA) May enter into any agreement for the sale and 284
leaseback OR LEASE AND LEASEBACK of qualified mass commuting 285
vehicles for federal income tax purposes under section 168(F)(8) 286
of the Internal Revenue Code of 1954, as amended TRANSIT 287
FACILITIES, which agreement may contain all necessary covenants 288
for the security and protection of any lessor or the regional 289
transit authority including, but not limited to, indemnification 290
of the lessor against the loss of anticipated tax benefits 291
arising from acts, omissions, or misrepresentations of the 292
regional transit authority. In connection with that transaction, 293
the regional transit authority may contract for insurance and 294
letters of credit and pay any premiums or other charges for the 295
insurance and letters of credit. The fiscal officer shall not be 296
required to furnish any certificate under section 5705.41 of the 297
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Revised Code in connection with the execution of any such
agreement. 298
(BB) In regard to any contract entered into on or after 300
March 19, 1993, for the rendering of services or the supplying of 301
materials or for the construction, demolition, alteration, 302
repair, or reconstruction of transit facilities in which a bond 303
is required for the faithful performance of the contract, may 304
permit the person awarded the contract to utilize a letter of 305
credit issued by a bank or other financial institution in lieu of 306
the bond;
(CC) May enter into agreements with municipal corporations 308
located within the territorial jurisdiction of the regional 309
transit authority permitting regional transit authority police 310
officers employed under division (Y) of this section to exercise 311
full arrest powers, as provided in section 2935.03 of the Revised 312
Code, for the purpose of preserving the peace and enforcing all 313
laws of the state and ordinances and regulations of the municipal 314
corporation within the areas that may be agreed to by the 315
regional transit authority and the municipal corporation. 316
Sec. 306.43. (A) The board of trustees of a regional 325
transit authority or any officer or employee designated by such 326
board may make any contract for the purchase of goods or 327
services, the cost of which does not exceed twenty-five thousand 328
dollars. When an expenditure, other than for the acquisition of 329
real estate, the discharge of claims, or the acquisition of goods 330
or services under the circumstances described in division (H) of 331
this section, is expected to exceed twenty-five thousand dollars, 332
such expenditure shall be made through full and open competition 333
by the use of competitive procedures. The regional transit 334
authority shall use the competitive procedure, as set forth in 335
divisions (B), (C), (D), and (E) of this section, that is most 336
appropriate under the circumstances of the procurement. 337
(B) Competitive sealed bidding is the preferred method of 339
procurement and a regional transit authority shall use that 340
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method if all of the following conditions exist: 341
(1) A clear, complete and adequate description of the 343
goods, services, or work is available; 344
(2) Time permits the solicitation, submission, and 346
evaluation of sealed bids; 347
(3) The award will be made on the basis of price and other 349
price-related factors; 350
(4) It is not necessary to conduct discussions with 352
responding offerors about their bids; 353
(5) There is a reasonable expectation of receiving more 355
than one sealed bid. 356
A regional transit authority shall publish a notice calling 358
for bids once a week for no less than two consecutive weeks in at 359
least one newspaper of general circulation within the territorial 360
boundaries of the regional transit authority. A regional transit 361
authority may require that a bidder for any contract other than a 362
construction contract provide a bid guaranty in the form, 363
quality, and amount considered appropriate by the regional 364
transit authority. The board may let the contract to the lowest 365
responsive and responsible bidder. Where fewer than two 366
responsive bids are received, a regional transit authority may 367
negotiate price with the sole responsive bidder or may rescind 368
the solicitation and procure under division (H)(2) of this 369
section. 370
(C) A regional transit authority may use two-step 372
competitive bidding, consisting of a technical proposal and a 373
separate, subsequent sealed price bid from those submitting 374
acceptable technical proposals, if both of the following 375
conditions exist: 376
(1) A clear, complete, and adequate description of the 378
goods, services, or work is not available, but definite criteria 379
exist for the evaluation of technical proposals; 380
(2) It is necessary to conduct discussions with responding 382
offerors. 383
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A regional transit authority shall publish a notice calling 385
for technical proposals once a week for no less than two 386
consecutive weeks in at least one newspaper of general 387
circulation within the territorial boundaries of the regional 388
transit authority. A regional transit authority may require a 389
bid guaranty in the form, quality, and amount the regional 390
transit authority considers appropriate. The board may let the 391
contract to the lowest responsive and responsible bidder. Where 392
fewer than two responsive and responsible bids are received, a 393
regional transit authority may negotiate price with the sole 394
responsive and responsible bidder or may rescind the solicitation 395
and procure under division (H)(2) of this section. 396
(D) A regional transit authority shall make a procurement 398
by competitive proposals if competitive sealed bidding or 399
two-step competitive bidding is not appropriate. 400
A regional transit authority shall publish a notice calling 402
for proposals once a week for no less than two consecutive weeks 403
in at least one newspaper of general circulation within the 404
territorial boundaries of the regional transit authority. A 405
regional transit authority may require a proposal guaranty in the 406
form, quality, and amount considered appropriate by the regional 407
transit authority. The board may let the contract to the 408
proposer making the offer considered most advantageous to the 409
authority. Where fewer than two competent proposals are 410
received, a regional transit authority may negotiate price and 411
terms with the sole proposer or may rescind the solicitation and 412
procure under division (H)(2) of this section. 413
(E)(1) A regional transit authority shall procure the 415
services of an architect or engineer in the manner prescribed by 416
the "Federal Mass Transportation Act of 1987," Public Law 100-17, 417
section 316, 101 Stat. 227, 232-234, 49 U.S.C.A. app. 1608 and 418
the services of a construction manager in the manner prescribed 419
by sections 9.33 to 9.332 of the Revised Code. 420
(2) A regional transit authority may procure revenue 422
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rolling stock in the manner prescribed by division (B), (C), or 423
(D) of this section. 424
(3) All contracts for construction in excess of 426
twenty-five thousand dollars shall be made only after the 427
regional transit authority has published a notice calling for 428
bids once a week for two consecutive weeks in at least one 429
newspaper of general circulation within the territorial 430
boundaries of the regional transit authority. The board may 431
award a contract to the lowest responsive and responsible bidder. 432
Where only one responsive and responsible bid is received, the 433
regional transit authority may negotiate price with the sole 434
responsive bidder or may rescind the solicitation. The regional 435
transit authority shall award construction contracts in 436
accordance with sections 153.12 to 153.14 and 153.54 of the 437
Revised Code. Divisions (B) and (C) of this section shall not 438
apply to the award of contracts for construction. 439
(F) All contracts involving expenditures in excess of 441
twenty-five thousand dollars shall be in writing and shall be 442
accompanied by or shall refer to plans and specifications for the 443
work to be done. The plans and specifications shall at all times 444
be made and considered part of the contract. For all contracts 445
other than construction contracts, a regional transit authority 446
may require performance, payment, or maintenance guaranties or 447
any combination of such guaranties in the form, quality, and 448
amount it considers appropriate. The contract shall be approved 449
by the board and signed on behalf of the regional transit 450
authority and by the contractor. 451
(G) In making a contract, a regional transit authority may 453
give preference to goods produced in the United States in 454
accordance with the Buy America requirements in the "Surface 455
Transportation Assistance Act of 1982," Public Law 97-424, 456
section 165, 96 Stat. 2097, 23 U.S.C.A. 101 note, as amended, and 457
the rules adopted thereunder. The regional transit authority 458
also may give preference to providers of goods produced in and 459
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services provided in labor surplus areas as defined by the United 460
States department of labor in 41 U.S.C.A. 401 note, Executive 461
Order No. 12073, August 16, 1978, 43 Fed. Reg. 36873, as amended. 462
(H) Competitive procedures under this section are not 464
required in any of the following circumstances: 465
(1) The board of trustees of a regional transit authority, 467
by a two-thirds affirmative vote of its members, determines that 468
a real and present emergency exists under any of the following 469
conditions, and the board enters its determination and the 470
reasons for it in its proceedings: 471
(a) Affecting safety, welfare, or the ability to deliver 473
transportation services; 474
(b) Arising out of an interruption of contracts essential 476
to the provision of daily transit services; 477
(c) Involving actual physical damage to structures, 479
supplies, equipment, or property. 480
(2) The purchase consists of goods or services, or any 482
combination thereof, and after reasonable inquiry the board or 483
any officer or employee the board designates finds that only one 484
source of supply is reasonably available. 485
(3) The expenditure is for a renewal or renegotiation of a 487
lease or license for telecommunications or electronic data 488
processing equipment, services, or systems, or for the upgrade of 489
such equipment, services, or systems, or for the maintenance 490
thereof as supplied by the original source or its successors or 491
assigns. 492
(4) The purchase of goods or services is made from another 494
political subdivision, public agency, public transit system, 495
regional transit authority, the state, or the federal government, 496
or as a third-party beneficiary under a state or federal 497
procurement contract, or as a participant in a department of 498
administrative services contract under division (B) of section 499
125.04 of the Revised Code. 500
(5) The sale and leaseback OR LEASE AND LEASEBACK of 502
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qualified mass commuting vehicles TRANSIT FACILITIES is made as 503
provided in division (AA) of section 306.35 of the Revised Code. 505
(6) The purchase substantially involves services of a 507
personal, professional, highly technical, or scientific nature, 508
including but not limited to the services of an attorney, 509
physician, surveyor, appraiser, investigator, court reporter, 510
adjuster, advertising consultant, or licensed broker, or involves 511
the special skills or proprietary knowledge required for the 512
servicing of specialized equipment owned by the regional transit 513
authority. 514
(7) Services or supplies are available from a qualified 516
nonprofit agency pursuant to sections 4115.31 to 4115.35 of the 517
Revised Code. 518
(8) The purchase consists of the product or services of a 520
public utility. 521
(9) The purchase is for the services of individuals with 524
handicaps to work in the authority's commissaries or cafeterias 525
and those individuals are supplied by a nonprofit corporation or 526
association whose purpose is to assist individuals with 528
handicaps, whether or not that organization or association is 530
funded entirely or in part by the federal government, or the 532
purchase is for services provided by a nonprofit corporation or 533
association whose purpose is to assist individuals with
handicaps, whether or not that organization or association is 534
funded entirely or in part by the federal government. For 535
purposes of division (G)(9) of this section, "handicap" has the 537
same meaning as in section 4112.01 of the Revised Code.
(I) A regional transit authority may enter into blanket 539
purchase agreements for purchases of maintenance, operating, or 540
repair goods or services where the item cost does not exceed five 541
hundred dollars and the annual expenditure does not exceed 542
twenty-five thousand dollars. 543
(J) Nothing contained in this section prohibits a regional 545
transit authority from participating in intergovernmental 546
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cooperative purchasing arrangements. 547
(K) Except as otherwise provided in this chapter, a 549
regional transit authority shall make a sale or other disposition 550
of property through full and open competition. Except as 551
provided in division (L) of this section, all dispositions of 552
personal property and all grants of real property for terms 553
exceeding five years shall be made by public auction or 554
competitive procedure. 555
(L) The competitive procedures required by division (K) of 557
this section are not required in any of the following 558
circumstances: 559
(1) The grant is a component of a joint development 561
between public and private entities and is intended to enhance or 562
benefit public transit. 563
(2) The grant of a limited use or of a license affecting 565
land is made to an owner of abutting real property. 566
(3) The grant of a limited use is made to a public 568
utility. 569
(4) The grant or disposition is to a department of the 571
federal or state government, to a political subdivision of the 572
state, or to any other governmental entity. 573
(5) Used equipment is traded on the purchase of equipment 575
and the value of the used equipment is a price-related factor in 576
the basis for award for the purchase. 577
(6) The value of the personal property is such that 579
competitive procedures are not appropriate and the property 580
either is sold at its fair market value or is disposed of by gift 581
to a nonprofit entity having the general welfare or education of 582
the public as one of its principal objects. 583
(M) The board of trustees of a regional transit authority, 585
when making a contract funded exclusively by state or local 586
moneys or any combination thereof, shall make a good faith effort 587
to use disadvantaged business enterprise participation to the 588
same extent required under Section 105(f) of the "Surface 589
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Transportation Assistance Act of 1982," Public Law 97-424, 96 590
Stat. 2100, and Section 106(c) of the "Surface Transportation and 591
Uniform Relocation Assistance Act of 1987," Public Law 100-17, 592
101 Stat. 145, and the rules adopted thereunder. 593
(N) As used in this section: 595
(1) "Goods" means all things, including specially 597
manufactured goods, that are movable at the time of 598
identification to the contract for sale other than the money in 599
which the price is to be paid, investment securities, and things 600
in action. "Goods" also includes other identified things 601
attached to realty as described in section 1302.03 of the Revised 602
Code. 603
(2) "Services" means the furnishing of labor, time, or 605
effort by a contractor, not involving the delivery of goods or 606
reports other than goods or reports that are merely incidental to 607
the required performance, including but not limited to insurance, 608
bonding, or routine operation, routine repair, or routine 609
maintenance of existing structures, buildings, real property or 610
equipment, but does not include employment agreements, collective 611
bargaining agreements, or personal services. 612
(3) "Construction" means the process of building, 614
altering, repairing, improving, painting, decorating, or 615
demolishing any structure or building, or other improvements of 616
any kind to any real property owned or leased by a regional 617
transit authority. 618
(4) "Full and open competition" has the same meaning as in 620
the "Office of Federal Procurement Policy Act," Public Law 621
98-369, section 2731, 98 Stat. 1195 (1984), 41 U.S.C.A. 403. 622
(5) A bidder is "responsive" if, applying the criteria of 624
division (A) of section 9.312 of the Revised Code, the bidder is 625
"responsive" as described in that section. 626
(6) A bidder is "responsible" if, applying the criteria of 628
division (A) of section 9.312 of the Revised Code and of the 629
"Office of Federal Procurement Policy Act," Public Law 98-369, 630
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section 2731, 98 Stat. 1195 (1984), 41 U.S.C.A. 403, the bidder 631
is "responsible" as described in those sections. 632
Section 2. That existing sections 306.35 and 306.43 of the 634
Revised Code are hereby repealed. 636
Section 3. This act is hereby declared to be an emergency 638
measure necessary for the immediate preservation of the public 639
peace, health, and safety. The reason for such necessity lies in 640
the fact that the Federal Transit Authority, because of 641
reductions made by the Congress in the amount of federal funds
available to public transit agencies, is encouraging and 642
providing regulatory authority for such agencies to employ 643
innovative financing techniques in order to make the best 644
possible use of the federal funds that are available. Among
these techniques is that of lease and leaseback, which cannot be 645
utilized by Ohio regional transit authorities under current law. 646
However, granting the authorities the authority to use the lease 647
and leaseback financing technique at the earliest possible time 648
can save them many hundreds of thousands of dollars, which then 649
will become available for other transit needs such as additional 650
equipment and route maintenance. Therefore, this act shall go
into immediate effect. 651