Any commuter transportation system receiving assistance from a district shall, as a condition of the grant:

1. (1) submit its operating budget for passenger service rendered to the district for public hearings annually at least ninety (90) days before the beginning of the system's fiscal year;
2. (2) permit the Indiana department of transportation ( IC 8-23-2 ) to audit the financial books and records of the system as the department would audit any intrastate railroad; and

3. (3) assume the responsibility for operation and maintenance of the equipment in accordance with a lease agreement executed between the system and district.

   [Pre-Local Government Recodification Citation: 19-5-2.6-7.]

   As added by Acts 1980, P.L.8, SEC.68. Amended by P.L.385-1987(ss), SEC.8; P.L.18-1990, SEC.65.