Texas Transportation Code
§ 370.311 — TERMS OF PRIVATE PARTICIPATION
TN § 370.311Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 370. REGIONAL MOBILITY AUTHORITIES · Art. G. PARTICIPATION IN FINANCING, CONSTRUCTION, AND OPERATION OF TRANSPORTATION PROJECTS
Statute text
View on source(a)An authority shall negotiate the terms of private participation in a transportation project, including:
(1)methods to determine the applicable cost, profit, and project distribution between the private equity investors and the authority;
(2)reasonable methods to determine and classify toll rates or user fees;
(3)acceptable safety and policing standards; and
(4)other applicable professional, consulting, construction, operation, and maintenance standards, expenses, and costs.
(b)A comprehensive development agreement entered into under Section 370.305 must include a provision authorizing the authority to purchase, under terms agreed to by the parties, the interest of a private equity investor in a transportation project.
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Legislative history
Added by Acts 2003, 78th Leg., ch. 1325, Sec. 2.01, eff. June 21, 2003.