(a) There is hereby established in the Treasury of the Virgin Islands, a separate and distinct fund to be designated the “Public Transportation Fund”, hereinafter, the “Fund”. There shall be created in the Fund a separate account to be known as the “VITRAN Bus Maintenance Account.” The Commissioner of Finance shall deposit into the VITRAN Bus Maintenance Account the money received quarterly from the Commissioner of Public Works realized from the sale of advertisement. The Commissioner of Finance shall provide for the administration of the Fund and no monies contained therein shall be available for expenditure except as provided in this section.
(b) The Fund shall consist of all sums appropriated thereto from time to time by the Legislature and all sums received from grants, subsidies and farebox collections by the public bus system.
(c) Monies deposited in the Fund shall be disbursed by the Commissioner of Finance, at the direction of the Commissioner of Public Works, for the operation and maintenance of the public transit system, including salaries and fringe benefits and any other operating expenses of the system. However, the money realized from the sale of advertisements on VITRAN buses and bus stops must be used exclusively for the maintenance and repair of the VITRAN buses. At the end of each fiscal year, if there is any money remaining in the VITRAN Bus Maintenance Account, the Commissioner of Public Works may request the Commissioner of Finance that any of the remaining money be transferred to the Public Transportation Fund to be used for the operation and maintenance of the entire public transit system.