Sec. 370.311. TERMS OF PRIVATE PARTICIPATION. (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.
(c) An authority may only enter into a comprehensive development agreement under Section 370.305 with a private equity investor if the project is identified in the department's unified transportation program or is located on a transportation corridor identified in the statewide transportation plan.
Added by Acts 2003, 78th Leg., ch. 1325, Sec. 2.01, eff. June 21, 2003.
Section: Previous 370.304 370.305 370.306 370.307 370.308 370.309 370.310 370.311 370.312 370.313 370.315 370.317 370.331 370.332 370.333 NextLast modified: September 28, 2016