North Dakota Code 48-02.1-10 – Cost recovery
Development agreements entered into under this chapter may authorize private operators of fee-based facilities to impose a fee-based charge for the use of the facility and must require that the fee revenues be applied:
Terms Used In North Dakota Code 48-02.1-10
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
1. To repayment of indebtedness incurred for the fee-based facility; 2. To lease or fee-based concessions payments, if any; 3. To costs associated with the operation, administration, and maintenance of the facility; and 4. To reasonable reserves for future capital outlays, if any.
Residual fee revenues belong to the private operator, except for any royalties that may be payable to a public authority under the development agreement or a related fee-based concession agreement. After the expiration of any lease for a build, transfer, and operate facility, or after title has reverted for a build, operate, and transfer facility, the public authority may continue to charge a fee for the use of the facility.