Section 160.87 Toll Facility Cost Recovery
160.87 TOLL FACILITY COST RECOVERY.
Subdivision 1.Use of toll revenues.
Toll revenues must be applied to repayment of indebtedness incurred for the toll facility; payments to a road authority under the development agreement or a related lease, management, or toll concession agreement; costs of operation necessary to meet applicable standards of the road authority; and reasonable reserves for future capital outlays. The enumeration of uses in this subdivision does not state priorities for the use of these revenues.
Subd. 2.Residual toll revenues.
Residual toll revenues after the payments specified in subdivision 1 are made belong to the private operator.
Subd. 3.Continuation of tolls.
After expiration of a lease for a BTO facility, or after title has reverted for a BOT facility, the road authority may continue to charge tolls for the facility.
History:
1993 c 211 s 4