(a) An authority shall negotiate the terms of private participation in a transportation project, including:
(1) methods to determine the applicable cost, profit, and project distribution between the private equity investors and the authority;
(2) reasonable methods to determine and classify toll rates or user fees;
(3) acceptable safety and policing standards; and
(4) other applicable professional, consulting, construction, operation, and maintenance standards, expenses, and costs.
(b) A comprehensive development agreement entered into under Section 370.305 must include a provision authorizing the authority to purchase, under terms agreed to by the parties, the interest of a private equity investor in a transportation project.
Terms Used In Texas Transportation Code 370.311
- User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
(c) An authority may only enter into a comprehensive development agreement under Section 370.305 with a private equity investor if the project is identified in the department’s unified transportation program or is located on a transportation corridor identified in the statewide transportation plan.