§ 43-3-212.6 — Disposition of tolls - when bonds not issued

Colorado § 43-3-212.6

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

Text

(1) If bonds are
not 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 ensure, as
applicable:

(a) Reimbursement or payment to the department of transportation for all
costs relating to or resulting from the turnpike project, including, but not limited to,
costs for the design, finance, construction, operation, maintenance, improvement,
and reconstruction of the turnpike, and for all works, facilities, and means
necessary or convenient to the full exercise of the powers granted to the
department of transportation under this part 2;

(b) The reasonable return on investment of any private entity financing the
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.

(2) If amounts generated from the fees, fares, and tolls collected exceed the
amount required in subsection (1) of this section and if the transportation
commission determines that a turnpike project is being adequately maintained, the
department of transportation may use any proceeds in excess of such amounts 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: (1) amended, p. 1097, � 15, effective June 1.