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Texas Transportation Code - TRANSP § 111.059. Information on Certain High-Speed Rail Projects

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) In this section, "high-speed rail" has the meaning assigned by Section 112.201.

(b) An entity that proposes a high-speed rail project shall submit to the department each year that the project is included in the Texas Rail Plan the following information:

(1) the proposed method of financing of the construction or acquisition of the project, including:

(A) the extent to which funds for financing are currently available;  and

(B) for any securities to be issued:

(i) the approximate terms of sale and total fixed charges of the securities;

(ii) whether the securities issued will be underwritten by industries to be served by the proposed line;  and

(iii) an explanation of how the fixed charges will be met;

(2) a recent balance sheet;

(3) a present value determination of the full costs of the proposal;

(4) if construction is proposed, the costs for each year of the construction;

(5) a proposed schedule for completion of the project, including timeline for permitting, funding, and land acquisition;

(6) ridership projections and methodology;

(7) the proposed route;

(8) an organization chart of the entity's management and staff;  and

(9) a disclosure of any current or planned foreign investment in the project.

(c) The department shall make the information submitted under this section available to the public on the department's Internet website.

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Cite this article: FindLaw.com - Texas Transportation Code - TRANSP § 111.059. Information on Certain High-Speed Rail Projects - last updated January 01, 2024 | https://codes.findlaw.com/tx/transportation-code/transp-sect-111-059/

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