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Current as of January 01, 2024 | Updated by Findlaw Staff
Development agreements entered into under this chapter may authorize private operators of fee-based facilities to impose a fee-based charge for the use of the facility and must require that the fee revenues be applied:
1. To repayment of indebtedness incurred for the fee-based facility;
2. To lease or fee-based concessions payments, if any;
3. To costs associated with the operation, administration, and maintenance of the facility; and
4. To reasonable reserves for future capital outlays, if any.
Residual fee revenues belong to the private operator, except for any royalties that may be payable to a public authority under the development agreement or a related fee-based concession agreement. After the expiration of any lease for a build, transfer, and operate facility, or after title has reverted for a build, operate, and transfer facility, the public authority may continue to charge a fee for the use of the facility.
Cite this article: FindLaw.com - North Dakota Century Code Title 48. Public Buildings § 48-02.1-10. Cost recovery - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-48-public-buildings/nd-cent-code-sect-48-02-1-10/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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