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The cost of purchasing and/or leasing buses and other equipment necessary for the operation of the system and all the cost of the operation of the system and the costs of the replacement thereof shall be financed entirely out of revenue from the operation of the transit system and out of revenues derived from the transit subsidy excise taxes levied and imposed by Chapter 3.50 or derived from state or federal sources or by loans from other city funds which may be made and repaid pursuant to state law out of the transit fund provided for in Chapter 3.50. (Prior code § 1.92.030.)