Texas § TN.371.151 - DISCLOSURE OF FINANCIAL INFORMATION

§ TN.371.151. DISCLOSURE OF FINANCIAL INFORMATION

DISCLOSURE OF FINANCIAL INFORMATION. (a) Before a toll project entity enters into a contract for the construction of a toll project, the entity shall publish in the manner provided by Section 371.152 information regarding: (1) project financing, including: (A) the total amount of debt that has been and will be assumed to acquire, design, construct, operate, and maintain the toll project; (B) a description of how the debt will be repaid, including a projected timeline for repaying the debt; and (C) the projected amount of interest that will be paid on the debt; (2) whether the toll project will continue to be tolled after the debt has been repaid; (3) a description of the method that will be used to set toll rates; (4) a description of any terms in the contract relating to competing facilities, including any penalties associated with the construction of a competing facility; (5) a description of any terms in the contract relating to a termination for convenience provision, including any information regarding how the value of the project will be calculated for the purposes of making termination payments; (6) the initial toll rates, the methodology for increasing toll rates, and the projected toll rates at the end of the term of the contract; and (7) the projected total amount of concession payments. (b) A toll project entity may not enter into a contract for the construction of a toll project before the 30th day after the date the information is first published under Section 371.152 . Added by Acts 2007, 80th Leg., R.S., Ch. 264 (S.B. 792 ), Sec. 11.01, eff. June 11, 2007.