§ 8-16-1-17.1 — Toll bridge becoming state highway or tollway; reimbursement of funds; conveyances

Indiana § 8-16-1-17.1

• Jurisdiction: Indiana
• Art. 16: BRIDGES AND TUNNELS
• Ch. 1: Operation and Financing of State Bridges to Adjoining

Text

1. (a) The authority may, after adopting a
resolution and after receiving the governor's approval, determine under
IC 8-23-7 that any toll bridge constructed or operated by the authority
should become a part of the system of state highways free of tolls or
become a tollway under IC 8-15-3.
(b) A resolution adopted under subsection (a) becomes effective
when:
(1) all bonds to which the revenues of the toll bridge were
pledged for payment, together with all interest, is paid, or a
sufficient amount for the payment of all those bonds and the
interest to maturity is set aside in trust for the benefit of
bondholders; and
(2) to the extent authorized by the authority as provided in
subsection (d), the Indiana interstate bridge fund or any other
fund of the state is reimbursed for amounts expended from the
fund for the purposes of this chapter, even if those expenditures
were not made in connection with the bridge.
(c) Until a resolution is adopted by the authority under subsection
(a) and becomes effective under subsection (b), any toll bridge
constructed by the authority or its predecessors remains under the
jurisdiction of the authority and the authority shall continue to maintain
and operate the toll bridge and levy and collect tolls as provided in this
chapter. Subject to any agreement entered into by the Secretary of
Transportation of the United States, acting by and through the federal
highway administrator, and the state, acting by and through the
department, tolls on any project may be continued from the date of the
payment of the principal of and interest on bonds issued for the
construction of the toll bridge.
(d) The authority may use revenue received from tolls under
subsection (c) to reimburse the Indiana interstate bridge fund or any
other state fund for an expenditure made for the purposes of this
chapter, whether or not the expenditure was made in connection with
the bridge from which the tolls were received. Before reimbursing any
fund under this subsection, the authority shall provide for the cost of
maintaining, repairing, or operating the toll bridge. If the authority
decides to make a reimbursement under this subsection, it shall first
fully reimburse all other eligible funds before it may reimburse the
interstate bridge fund. After the interstate bridge fund is reimbursed,
the authority may transfer revenue received from tolls under subsection
(c) to the state for deposit in the state highway fund for use as provided
by law.
(e) If the authority adopts a resolution under subsection (a) that
becomes effective under subsection (b), the toll bridge becomes the
property of the state without a deed of conveyance, and the bridge
comes under the jurisdiction and control of the department as part of
the Indiana state highway system or as a tollway, as designated in the
resolution.

Legislative History

As added by P.L.386-1987(ss), SEC.15. Amended by P.L.18-1990, SEC.147.