National Land Transport Act, 2009 (Act No. 5 of 2009)Chapter 3 : Funding Arrangements for Land Transport27. Municipal land transport funds |
| (1) | Subject to subsection (2), every municipality that is establishing an integrated public transport network must establish a fund for its area known as a Municipal Land Transport Fund, into which shall be paid— |
| (a) | money appropriated by the Minister for that Fund; |
| (b) | money appropriated by the MEC for that Fund; |
| (c) | user charges collected in terms of section 28; |
| (d) | interest on invested cash balances belonging to that Fund; and |
| (e) | donations and contributions to that fund from any other source, including foreign aid agencies. |
| (2) | Such a municipality must administer that fund and use it to defray the cost of the functions of that authority in terms of this Act or its integrated transport plan, and to cover any other expenditure that will promote the objects of this Act in its area. |
| (3) | Such a municipality may invest money in that fund that is not immediately required by it subject to the Municipal Finance Management Act and any other applicable legislation. |
| (4) | Such a municipality must keep proper accounts of all money accruing to or paid out of that fund, which must be audited by the Auditor-General. |
| (5) | The municipal manager or chief executive officer of such a municipality must submit, annually to its council, for approval estimates of expenditure to be defrayed from that fund, and may make no payment from that fund except in accordance with such estimates or with the prior approval of that council. |
| (6) | The provisions of the Municipal Finance Management Act apply to such funds, and the Minister of Finance may make regulations clarifying the application of that Act to those funds. |