Texas § TN.364.041 - TOLLS

§ TN.364.041. TOLLS

TOLLS. (a) A county that acquires a toll bridge under this chapter or that owns or controls any international toll bridge, by order or resolution of the commissioners court, may impose tolls and other charges for the use of the bridge and for the transportation of persons or property, including passengers, vehicles, or freight and commodities, over the bridge. (b) In accordance with any applicable permit or franchise granted by a governmental authority, the tolls must be just, reasonable, nondiscriminatory, and sufficient to provide revenue in an amount that is at least adequate to: (1) pay all expenses necessary to maintain and operate the toll bridge or bridges; (2) make necessary payments and comply with any applicable permit or franchise; (3) pay the interest on and principal of all bonds or warrants issued under this chapter as due; (4) pay as due all sinking fund or reserve fund payments agreed to be made in connection with bonds or warrants issued under this chapter and payable from that revenue; (5) comply with any agreement made with the holders of bonds or warrants issued under this chapter or with any person on behalf of those holders; and (6) recover a reasonable rate of return on invested capital. (c) The commissioners court may use revenue received under this section in excess of the amounts required by Subsection (b) to: (1) establish a reasonable depreciation and emergency fund; (2) retire by purchase and cancellation or by redemption any outstanding bonds or warrants issued under this chapter; (3) provide needed budgetary support to local government for public purposes and the general welfare; or (4) accomplish the purposes of this chapter. (d) The commissioners court shall impose tolls and other charges under this section for use of a bridge subject to an encumbrance. (e) This chapter does not deprive this state, the United States, or any other agency having jurisdiction of its power to regulate or control tolls and other charges to be collected for a purpose listed in Subsection (b) or (c). (f) Until bonds or warrants issued under this chapter have been paid and discharged, together with all interest on the bonds or warrants, interest on unpaid interest installments on the bonds or warrants, other costs or expenses incurred in connection with any acts or proceedings taken by or on behalf of the holders of the bonds or warrants, and all other obligations of the county incurred in connection with the bonds or warrants, this state pledges to and agrees with the purchasers and successive holders of the bonds or warrants that it will not: (1) limit or alter the power of a county to impose tolls and other charges under this section sufficient to pay the items listed in Subsection (b) or (c); or (2) take any action that will impair the rights or remedies of the holders of the bonds or warrants or of persons acting on their behalf. Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.