§ 27-76-701 — Setting tolling fees, fare, and other charges on toll facility project

(a) A regional mobility authority shall set tolls, fees, fares, or other charges at rates or amounts so that the aggregate of tolls, fees, fares, or other charges from the transportation project, together with other revenue of the project: (1) Provides toll facility project revenue sufficient to pay: (A) The toll facility project costs; (B) The cost of maintaining, repairing, and operating the transportation project; and (C) The principal of and interest on any bonds issued for the toll facility project as those bonds become due and payable; and (2) Creates reserves for one (1) or more of the purposes stated under subdivision (a)(1) of this section. (b) A toll, fee, fare, or other charge imposed on an owner of a public utility facility shall be imposed in a manner that is competitively neutral and nondiscriminatory among similarly situated users of the toll facility project. (c) A toll, fee, fare, or other usage charge is not subject to supervision or regulation by any agency of this state or other governmental entity. (d) Notwithstanding any of the provisions of this subchapter, a regional mobility authority's power to charge tolls for use of a toll facility project shall be subject to approval by the voters within the boundaries of the regional mobility authority as follows: (1) Voter approval of the initial imposition of the tolls, including the initial toll rate by the regional mobility authority; and (2) If revenue bonds are to be issued by the regional mobility authority to fund all or a portion of the costs of the toll facility project, voter approval of the development of the toll facility project, including the initial toll rate and the issuance of the maximum principal amount of bonded indebtedness.

Legislative History

Acts 2007, No. 389, § 1.