Sec. 366.409. USE OF CONTRACT PAYMENTS. (a) Payments received by an authority under a comprehensive development agreement shall be used by the authority to finance the construction, maintenance, or operation of a turnpike project or a highway.
(b) The authority shall allocate the distribution of funds received under Subsection (a) to the counties of the authority based on the percentage of toll revenue from users, from each county, of the project that is the subject of the comprehensive development agreement. To assist the authority in determining the allocation, each entity responsible for collecting tolls for a project shall calculate on an annual basis the percentage of toll revenue from users of the project from each county within the authority based on the number of recorded electronic toll collections.
Added by Acts 2007, 80th Leg., R.S., Ch. 264 (S.B. 792), Sec. 9.03, eff. June 11, 2007.
Structure Texas Statutes
Subtitle G - Turnpikes and Toll Projects
Chapter 366 - Regional Tollway Authorities
Subchapter H. Comprehensive Development Agreements
Section 366.401. Comprehensive Development Agreements
Section 366.402. Process for Entering Into Comprehensive Development Agreements
Section 366.403. Confidentiality of Information
Section 366.404. Performance and Payment Security
Section 366.405. Ownership of Turnpike Projects
Section 366.406. Liability for Private Obligations
Section 366.407. Terms of Private Participation
Section 366.408. Rules, Procedures, and Guidelines Governing Selection and Negotiating Process