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Texas Transportation Code - TRANSP § 370.311. Terms of Private Participation

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

(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.

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Cite this article: FindLaw.com - Texas Transportation Code - TRANSP § 370.311. Terms of Private Participation - last updated January 01, 2024 | https://codes.findlaw.com/tx/transportation-code/transp-sect-370-311/

Read this complete Texas Transportation Code - TRANSP § 370.311. Terms of Private Participation on Westlaw

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