30926.1.
(a) Subject to the prior payment of all costs identified in paragraphs (7) and (9) of subdivision (b), in preparing its annual budget the authority shall prioritize expenditures of revenues from the toll bridge for improvements to the toll bridge, including the cost of any required environmental mitigation.(b) Revenues from the toll bridge may be used for any of the following purposes:
(1) Near-term improvements to the toll bridge, known as the Interim Project, from the intersection of State Route 37 with State Route 121 at Sears Point to Mare Island. The goal of the Interim Project is to improve travel
times in the corridor and increase vehicle passenger occupancy by creating a time-savings incentive for carpools, microtransit, and bus transit. Any new travel lanes for motorized vehicles shall be restricted to high-occupancy vehicles during peak traffic hours in order to encourage mode shift away from single-occupancy vehicles and provide travel time savings for passengers of high-occupancy vehicles.
(2) Long-term improvements as part of the State Route 37 Ultimate Sea Level Rise Adaptation Project, known as the Ultimate Project. The Ultimate Project includes the rebuilding of State Route 37 between United States Highway 101 in the City of Novato in the County of Marin to Interstate 80 in the City of Vallejo in the County of Solano into a multimodal facility to relieve congestion and increase reliability by designing for sea-level
sea level
rise. The project scope may include multimodal improvements, including a high-occupancy-vehicle lane for express bus services, a separated facility for the exclusive use of bicycles and pedestrians, other public access improvements, and, where feasible, passage of water, sediment, and wildlife. This description of the preliminary scope of the Ultimate Project is not intended to limit or determine the Ultimate Project scope and design, which shall be determined by the lead agency and partner agencies, in consultation with the State Route 37 Policy Committee, key stakeholders, and the general public, as part of the environmental review process.
(3) Costs for capital improvements to repair or rehabilitate the toll bridge, to expand toll bridge capacity, to improve toll bridge or corridor operations, to reduce the demand for
travel in the corridor, or to increase public transit, carpool, vanpool, and nonmotorized options on the toll bridge or in the corridor.
(4) Costs to integrate ecological restoration and environmental enhancement in the San Pablo Baylands beyond required mitigation into the Interim and Ultimate Projects. Eligible expenditures may include, but are not limited to, any of the following:
(A) Coordination with natural resource agencies, land managers, nonprofit organizations, flood control districts, and other applicable entities to facilitate the implementation of ecological restoration and environmental enhancement during the planning, design, environmental review, and project delivery phases of the interim and ultimate projects.
Interim and Ultimate Projects.
(B) Preparation and implementation of a regional advance mitigation program and regional conservation investment strategy for the Interim and Ultimate Projects consistent with the definition of advance mitigation in subdivision (c) of Section 800.5.
(C) Land acquisition for purposes of ecological restoration and
environmental enhancement in the San Pablo Baylands.
(D) Designing, permitting, and constructing ecological restoration and environmental enhancement projects in the San Pablo Baylands.
(5) Public access projects, including water trails, observation areas, and parking lots, and San Francisco Bay Trail gap closures.
(6) Capital and operating costs, to the extent permitted under federal law, associated with fixed-route or on-demand transit or vanpool service in the State Route 37 corridor between the Counties of Solano and Marin, including implementation of incentives to encourage high-occupancy vehicle travel.
(7) Costs incurred by the authority
and the Bay Area Infrastructure Financing Authority pursuant to this chapter for operations, toll collection, and administration.
(8) Reimbursement to federal, state, and local agencies for costs incurred by those agencies for services provided for purposes of this chapter that are reimbursable pursuant to a written agreement between the authority and the respective agency.
(9) Payments pursuant to bonds and resolutions, indentures, or related instruments or agreements, including without limitation, any costs of issuance, debt service, or other reserves and the requirements of any other constituent instruments defining the rights of holders of related obligations of the authority entered into pursuant to Section 5922 of the Government Code, and any repayment or reimbursement
obligations of the authority to any providers of bond insurance or letters of credit or lines of credit related to bonds.
(10) Other costs incurred pursuant to this chapter.
30926.3.
The authority shall have, and may exercise, all rights and powers, expressed or implied, that are necessary to carry out the purposes and intent of this chapter, including the power to do all of the following:(a) Consult with counties, cities, towns, and other agencies and political subdivisions of this state regarding plans and projects authorized by this chapter, and apply for, accept, receive, and disburse grants, loans, and other assistance from the United States of America, the State of California, and any agencies thereof.
(b) Acquire by dedication, gift, purchase, or eminent domain, and hold and
dispose of any interests in property whether real or personal in the exercise of its powers and the performance of its duties under this chapter.
(c) Establish and enforce policies, rules, and regulations for the administration, operation, and maintenance of the toll bridge and corridor.
(d) Make and enter into contracts and sue and be sued in its own name.
(e) Invest any moneys not required for the immediate necessities of the authority, as the authority determines is advisable.
(f) Do all acts necessary and convenient for the full exercise of the powers granted pursuant to this chapter.