Tex.
Transp. Code Section 284.064
Contract to Operate
(a)
A county may contract with another person for the person to operate all or part of a project under this chapter to the extent prescribed by the bond instrument.(b)
A contract made under this section must be for a specified period that does not extend beyond the date of maturity of the last maturing bond.(c)
A contract made under this section may not interfere with the right of a bondholder to require proper operation and maintenance of the facilities and the payments for the benefit of the bond as prescribed in the bond instrument.(d)
If a county enters into an agreement with a person that includes the collection by the person of tolls for the use of a project, the person shall submit to the county for approval:(1)
the methodology for:(A)
the setting of tolls; and(B)
increasing the amount of the tolls;(2)
a plan outlining methods the person will use to collect the tolls, including:(A)
any charge to be imposed as a penalty for late payment of a toll; and(B)
any charge to be imposed to recover the cost of collecting a delinquent toll; and(3)
any proposed change in an approved methodology for the setting of a toll or a plan for collecting the toll.(e)
An agreement with a person that includes the collection by the person of tolls for the use of a project may not be for a term longer than 50 years.
Source:
Section 284.064 — Contract to Operate, https://statutes.capitol.texas.gov/Docs/TN/htm/TN.284.htm#284.064
(accessed Jun. 5, 2024).