Texas Transportation Code 371.003 – Valuation Determination
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Terms Used In Texas Transportation Code 371.003
- Oversight: Committee review of the activities of a Federal agency or program.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Any determination of value, including best value, under applicable federal or state law for a comprehensive development agreement or other public-private partnership arrangement involving a toll project must take into consideration any factors the toll project entity determines appropriate, including factors related to:
(1) oversight of the toll project;
(2) maintenance and operations costs of the toll project;
(3) the structure and rates of tolls;
(4) economic development impacts of the toll project; and
(5) social and environmental benefits and impacts of the toll project.