72-6-206 - Commission approval and legislative review of tollway development agreement provisions.
72-6-206. Commission approval and legislative review of tollway developmentagreement provisions.
(1) Prior to the department entering into a tollway development agreement under Section72-6-203, the department shall submit to the commission for approval the tollway developmentagreement, including:
(a) a description of the tollway facility, including the conceptual design of the facility andall proposed interconnections with other transportation facilities;
(b) the proposed date for development, operation, or both of the tollway facility;
(c) the proposed term of the tollway development agreement;
(d) the proposed method to determine toll rates or user fees, including:
(i) identification of vehicle or user classifications, or both, for toll rates;
(ii) the original proposed toll rate or user fee for the tollway facility;
(iii) proposed toll rate or user fee increases; and
(iv) a maximum toll rate or user fee for the tollway facility; and
(e) any proposed revenue, public or private, or proposed debt or equity investment thatwill be used for the design, construction, financing, acquisition, maintenance, or operation of thetollway facility.
(2) Prior to amending or modifying a tollway development agreement, the departmentshall submit the proposed amendment or modification to the commission for approval.
(3) The department shall report to the Executive Appropriations Committee,Transportation Interim Committee, or another committee designated by the LegislativeManagement Committee on the status and progress of a tollway subject to a tollway developmentagreement under Section 72-6-203.
Enacted by Chapter 36, 2006 General Session