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Texas Statutes (Last Updated: January 4, 2014) |
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TRANSPORTATION CODE |
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Title 6. ROADWAYS |
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Subtitle G. TURNPIKES AND TOLL PROJECTS |
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Chapter 370. REGIONAL MOBILITY AUTHORITIES |
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Subchapter G. PARTICIPATION IN FINANCING, CONSTRUCTION, AND OPERATION OF TRANSPORTATION PROJECTS |
Sec. 370.311. TERMS OF PRIVATE PARTICIPATION
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(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.