Tex. Transp. Code Section 366.173
Revenue


(a)

An authority may:

(1)

impose tolls for the use of each of its turnpike projects and systems and the different parts or sections of each of its turnpike projects and systems; and

(2)

contract with a person for the use of part of a turnpike project or system or lease or sell part of a turnpike project or system, including the right-of-way adjoining the paved portion, for any purpose, including placing on the adjoining right-of-way a gas station, garage, store, hotel, restaurant, parking facility, railroad track, billboard, livestock pasturage, telephone line or facility, telecommunication line or facility, data transmission line or facility, and electric line or facility, under terms set by the authority.

(b)

Tolls must be set so that the aggregate of tolls from an authority’s turnpike project or system, together with other revenue of the turnpike project or system:

(1)

provides revenue sufficient to pay:

(A)

the cost of maintaining, repairing, and operating the turnpike project or system; and

(B)

the principal of and interest on the bonds issued for the turnpike project or system as those bonds become due and payable; and

(2)

creates reserves for a purpose listed under Subdivision (1).

(c)

Tolls are not subject to supervision or regulation by any state agency or other local governmental entity.

(d)

Tolls and other revenue derived from a turnpike project or system for which bonds are issued, except the part necessary to pay the cost of maintenance, repair, and operation and to provide reserves for those costs as may be provided in the bond proceedings, shall be set aside at regular intervals as may be provided in the bond resolution or trust agreement in a sinking fund that is pledged to and charged with the payment of:

(1)

interest on the bonds as it becomes due;

(2)

principal of the bonds as it becomes due;

(3)

necessary charges of paying agents for paying principal and interest; and

(4)

the redemption price or the purchase price of bonds retired by call or purchase as provided by the bond proceedings.

(e)

Use and disposition of money to the credit of the sinking fund is subject to the bond proceedings.

(f)

To the extent permitted under the applicable bond proceedings, revenue from one turnpike project of an authority may be used to pay the cost of other turnpike projects of the authority.

(g)

An authority may not use revenue from its turnpike projects in a manner not authorized by this chapter. Revenue generated from a turnpike project may not be applied for a purpose or to pay a cost other than a cost or purpose that is reasonably related to or anticipated to be for the benefit of a turnpike project.
Added by Acts 1997, 75th Leg., ch. 1171, Sec. 7.24, eff. Sept. 1, 1997.

Source: Section 366.173 — Revenue, https://statutes.­capitol.­texas.­gov/Docs/TN/htm/TN.­366.­htm#366.­173 (accessed Mar. 23, 2024).

366.001
Short Title
366.002
Purposes
366.003
Definitions
366.004
Construction Costs Defined
366.031
Creation and Expansion of a Regional Tollway Authority
366.032
Nature of Regional Tollway Authority
366.033
General Powers
366.034
Establishment of Turnpike Systems
366.036
Transfer of Turnpike Project or System
366.037
Other Highway Projects
366.038
Tolling Services
366.071
Expenditures for Feasibility Studies
366.072
Feasibility Study Fund
366.073
Feasibility Study by Municipality, County, Other Local Governmental Entity, or Private Group
366.111
Turnpike Revenue Bonds
366.112
Interim Bonds
366.113
Payment of Bonds
366.114
Effect of Lien
366.115
Bond Indenture
366.116
Approval of Bonds by Attorney General
366.117
Furnishing of Indemnifying Bonds or Pledges of Securities
366.118
Applicability of Other Law
366.161
Turnpike Projects Extending into Other Counties
366.162
Powers and Procedures of Authority in Acquiring Property
366.163
Acquisition of Property
366.164
Right of Entry
366.165
Condemnation of Real Property
366.166
Declaration of Taking
366.167
Possession of Property
366.168
Severance of Real Property
366.169
Acquisition of Rights in Public Real Property
366.170
Compensation for and Restoration of Public Property
366.171
Public Utility Facilities
366.172
Lease, Sale, or Conveyance of Turnpike Project
366.173
Revenue
366.174
Authority Revolving Fund
366.175
Use of Surplus Revenue
366.176
Exemption from Taxation or Assessment
366.177
Actions Affecting Existing Roads
366.178
Failure or Refusal to Pay Toll
366.179
Use and Return of Transponders
366.180
Controlled Access to Turnpike Projects
366.181
Promotion of Toll Roads
366.182
Operation of Turnpike Project
366.183
Audit
366.184
Disadvantaged Businesses
366.185
Engineering, Design, and Construction Services
366.251
Board of Directors
366.252
Conflict of Interest
366.253
Surety Bonds
366.254
Removal of Director
366.255
Compensation of Director
366.256
Evidence of Authority Actions
366.257
Public Access
366.258
Indemnification
366.259
Purchase of Liability Insurance
366.260
Certain Contracts and Sales Prohibited
366.261
Strategic Plans and Annual Reports
366.262
Meetings by Telephone Conference Call
366.301
Department Contributions to Turnpike Projects
366.302
Agreements to Construct, Maintain, and Operate Turnpike Projects
366.303
Agreements Between Authority and Local Governmental Entities
366.304
Additional Agreements of Authority
366.0311
Advisory Committee for Projects Located Outside Authority
366.401
Comprehensive Development Agreements
366.402
Process for Entering into Comprehensive Development Agreements
366.403
Confidentiality of Information
366.404
Performance and Payment Security
366.405
Ownership of Turnpike Projects
366.406
Liability for Private Obligations
366.407
Terms of Private Participation
366.408
Rules, Procedures, and Guidelines Governing Selection and Negotiating Process
366.409
Use of Contract Payments
366.2575
Board Vote on County Request

Accessed:
Mar. 23, 2024

§ 366.173’s source at texas​.gov