(1) In addition to the powers now
possessed by it, the department of transportation has power:
(a) To formulate, by its own initiative or by recommendation of the governor,
plans for the development and improvement of the state highway system by the
construction of turnpikes within the state and to conduct engineering surveys and
perform any other acts necessary in determining the feasibility of such plans.
Turnpike means any highway or express highway, tunnel, or toll tunnel
constructed under the provisions of this part 2 and includes all bridges, tunnels,
overpasses, underpasses, interchanges, entrance plazas, approaches, toll houses,
service stations, and administration, storage, and other buildings which the
department of transportation may deem necessary for the operation of such
turnpike, together with all property, rights, easements, and interests which may be
acquired by the department of transportation for the construction or the operation
of such turnpike.
(b) To design, finance, construct, operate, maintain, improve, and reconstruct
turnpikes in the state and to acquire, construct, operate, control, and use the
turnpikes and all works, facilities, and means necessary or convenient to the full
exercise of the powers granted in this section. It is declared that such turnpikes are
public highways of the state.
(c) To take all steps and adopt all proceedings and to make and enter into all
contracts or agreements with other states, the United States, or any of its agencies,
instrumentalities, or departments, including, without limiting the generality of the
foregoing, the reconstruction finance corporation or with public corporations within
the state necessary or incidental to the performance of its duties and the execution
of its powers under this part 2; but any contract relating to the financing of any
such construction, maintenance, improvement, or reconstruction shall be approved
by the governor before the same becomes effective;
(c.5) To make and enter into contracts or agreements with one or more
public or private entities to design, finance, construct, operate, maintain,
reconstruct, or improve a turnpike project by means of a public-private initiative
pursuant to section 43-3-202.5 and part 12 of article 1 of this title;
(d) To establish, revise periodically, and collect fees, fares, and tolls for the
privilege of traveling along and over the turnpikes and for such other uses as may
be made available by the establishment of such turnpikes, to adopt such rules
governing the use of the turnpikes as the department of transportation may
determine to be advisable, and to exercise such other powers and authority as may
be necessary or convenient to the practical and full operation and use thereof;
(e) To set aside in a special sinking fund and to pledge any and all fees,
fares, and tolls and all income however derived to the payment of the principal of
and the interest on the bonds authorized in this part 2 to be issued;
(f) To set aside in a special sinking fund and to pledge from the proceeds in
the state highway fund derived from the imposition of licenses, registration, and
other charges with respect to the operation of any motor vehicle upon any public
highway of the state and the proceeds from the imposition of any excise tax on
gasoline or other liquid motor fuel an amount sufficient to ensure the payment of
the principal and interest on the bonds authorized in this part 2 to be issued
promptly as the same respectively become due; except that any such pledge shall
first be approved by joint resolution of the senate and house of representatives and
further except that the amount so set aside and pledged shall not exceed in any
one year one hundred percent of the total of the following:
(I) The amount of principal and interest falling due during such year; and
(II) The amount required to be paid into the special sinking fund as a
reasonable reserve for the payment of the bonds authorized in this part 2 in
accordance with the resolution of the transportation commission authorizing their
issuance as approved by the joint resolution of the senate and house of
representatives.
(g) To accept grants and permits from and to cooperate with the United
States or any agency, instrumentality, or department thereof in the construction,
reconstruction, maintenance, improvement, operation, and financing of turnpikes or
their appurtenances and to do all things necessary to avail itself of such
cooperation;
(h) To designate as a turnpike project a described territory or a described
portion of the highway system of the state to be constructed or improved under this
part 2;
(i) To cooperate, negotiate, and contract with other states in any manner
necessary to effect the purposes of this part 2;
(j) To require that each contractor to whom is awarded any contract for the
construction, erection, repair, maintenance, or improvement of any turnpike, as
defined in paragraph (a) of this subsection (1), shall, before entering upon the
performance of any work included in said contract, execute, deliver to, and file with
the department of transportation a good and sufficient bond to be approved by the
department of transportation in an amount to be fixed by the department of
transportation, which amount shall be not less than twenty-five percent of the total
amount payable by the terms of said contract. Such bond shall be duly executed by
a qualified corporate surety, conditioned for the faithful performance of the
contract according to the terms thereof, and, in addition, shall provide that, if the
contractor or his subcontractors fail to duly pay for any labor, materials, motor
vehicle or team hire, sustenance, provisions, provender, or other supplies used or
consumed by such contractor or his subcontractor or contractors in performance of
the work contracted to be done, the surety will pay the same in an amount not
exceeding the sum specified in the bond, together with interest at the rate of eight
percent per annum.