§ 8-15-2-20 — Study of toll road projects

Indiana § 8-15-2-20

• Jurisdiction: Indiana
• Art. 15: TOLL ROADS
• Ch. 2: Operation and Financing of Toll Roads

Text

(a) The department shall expend out of any
funds available for the purpose such money as may be necessary for the
study of any toll road project or projects and to use its engineering and
other forces, including consulting engineers and traffic engineers, for
the purpose of effecting such study.
(b) All such expenses incurred by the department before the
issuance of toll road revenue bonds under the provisions of this chapter
shall be paid by the department and charged to the appropriate toll road
project or projects, and the department shall keep proper records and
accounts showing each amount so charged.
(c) Upon the sale of toll road revenue bonds for any project or
projects, the fund so expended by the department in connection with
such project or projects shall be reimbursed to the department from the
proceeds of bonds. If any project or projects for which a study has been
made is abandoned for any reason, then the costs of any such study or
studies shall be paid out of any uncommitted funds of the authority, and
if not so paid, the cost of any such study or studies shall be included in
any subsequent issue of bonds for any other project or projects unless
such inclusion would so increase the amount of bonds to be issued that
in the judgment of the authority such inclusion would render the bonds
unsaleable.
(d) In conducting any study of the feasibility of a toll road project,
the department shall include an investigation of the economic effect of
the construction of a highway on the communities served by that
highway. The department shall determine the extent of the economic
enhancement that would result from the construction of a toll road
project for the purpose of quantifying the enhancement.
Formerly: Acts 1951, c.281, s.20; Acts 1971, P.L.99, SEC.7. As
amended by Acts 1980, P.L.74, SEC.253; P.L.109-1983, SEC.26;
P.L.68-1988, SEC.14.