New York Consolidated Laws, Rapid Transit Law - RAT § 36. Rates of fare

The board of transportation, with the approval of the mayor, is hereby empowered to fix and adjust from time to time the rate of fare that may be charged any passenger traveling on any railroad publicly or municipally operated pursuant to the authority of this chapter, provided, however, that any change in such rate of fare shall become effective on the first day of the next ensuing fiscal year of the city.