Texas § TN.370.311 - TERMS OF PRIVATE PARTICIPATION

§ TN.370.311. TERMS OF PRIVATE PARTICIPATION

TERMS OF PRIVATE PARTICIPATION. (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. Added by Acts 2003, 78th Leg., ch. 1325, Sec. 2.01, eff. June 21, 2003.