Tex.
Transp. Code Section 371.151
Disclosure of Financial Information
(a)
Before a toll project entity enters into a contract for the construction of a toll project, the entity shall publish in the manner provided by Section 371.152 (Disclosure by Publication) information regarding:(1)
project financing, including:(A)
the total amount of debt that has been and will be assumed to acquire, design, construct, operate, and maintain the toll project;(B)
a description of how the debt will be repaid, including a projected timeline for repaying the debt; and(C)
the projected amount of interest that will be paid on the debt;(2)
whether the toll project will continue to be tolled after the debt has been repaid;(3)
a description of the method that will be used to set toll rates;(4)
a description of any terms in the contract relating to competing facilities, including any penalties associated with the construction of a competing facility;(5)
a description of any terms in the contract relating to a termination for convenience provision, including any information regarding how the value of the project will be calculated for the purposes of making termination payments;(6)
the initial toll rates, the methodology for increasing toll rates, and the projected toll rates at the end of the term of the contract; and(7)
the projected total amount of concession payments.(b)
A toll project entity may not enter into a contract for the construction of a toll project before the 30th day after the date the information is first published under Section 371.152 (Disclosure by Publication).
Source:
Section 371.151 — Disclosure of Financial Information, https://statutes.capitol.texas.gov/Docs/TN/htm/TN.371.htm#371.151 (accessed May 4, 2024).
