§ 43-3-212.5 — Disposition of tolls - when bonds issued

Colorado § 43-3-212.5

• Jurisdiction: Colorado
• Title 43: Transportation
• Art.: Special Highway Construction

Text

(1) If any bonds are
issued pursuant to this part 2, any fees, fares, and tolls to be charged for the use of
any turnpike shall be fixed and adjusted so that the fees, fares, and tolls collected,
along with other revenues, if any, are at least sufficient to pay for, as applicable:

(a) Any bonds issued pursuant to this part 2 and interest thereon, all sinking
fund requirements, and any other requirements provided for by resolution of the
transportation commission or by any trust indenture to which the department is a
party; or

(b) The reasonable return on investment of any private entity financing the
project by means of a public-private initiative pursuant to section 43-3-202.5 and
part 12 of article 1 of this title.

(2) If amounts generated from the fees, fares, and tolls collected exceed the
amount required in subsection (1) of this section, such fees, fares, and tolls shall
then be used to pay the necessary costs for the proper operation, maintenance, and
repair of any turnpike project.

(3) If the transportation commission determines that a turnpike project is
being adequately maintained, the department may use any proceeds in the special
sinking fund in excess of the amounts required under subsections (1) and (2) of this
section for the maintenance, construction, and operation of a network of turnpikes.

Legislative History

Source: L. 96: Entire section added, p. 466, � 9, effective April 23. L. 98: IP(1) amended, p. 1097, � 14, effective June 1.