348.0308 – Public-private partnership.
348.0308 Public-private partnership.—The Legislature declares that there is a public need for the rapid construction of safe and efficient transportation facilities for traveling within the state and that it is in the public’s interest to provide for public-private partnership agreements to effectuate the construction of additional safe, convenient, and economical transportation facilities. (1) The agency may receive […]
348.0309 – Bonds.
348.0309 Bonds.— (1) Bonds may be issued on behalf of the agency as provided by the State Bond Act. (2)(a) The agency may issue bonds pursuant to this part which do not pledge the full faith and credit of the state in such principal amount as, in the opinion of the agency, is necessary to provide sufficient moneys […]
348.03101 – Department may be appointed agent of agency for construction.
348.03101 Department may be appointed agent of agency for construction.—The department may be appointed by the agency as its agent for the purpose of constructing improvements and extensions to an expressway system and for the completion thereof. In such event, the agency shall provide the department with complete copies of all documents, agreements, resolutions, contracts, and […]
348.0311 – Acquisition of lands and property.
348.0311 Acquisition of lands and property.— (1) For the purposes of this act, the agency may acquire such rights, title, or interest in private or public property and such property rights, including easements, rights of access, air, view, and light, by gift, devise, purchase, or condemnation by eminent domain proceedings, as the agency may deem necessary for […]
348.0312 – Cooperation with other units, boards, agencies, and individuals.
348.0312 Cooperation with other units, boards, agencies, and individuals.—Express authority and power is given and granted to any county, municipality, drainage district, road and bridge district, school district, or other political subdivision, board, commission, or individual in or of this state to enter into contracts, leases, conveyances, or other agreements within the provisions and purposes of […]
348.0313 – Covenant of the state.
348.0313 Covenant of the state.—The state does hereby pledge to, and agrees with, any person, firm, corporation, or federal or state agency subscribing to or acquiring the bonds to be issued by the agency for the purposes of this act that the state will not limit or alter the rights hereby vested in the agency and […]
348.0314 – Exemption from taxation.
348.0314 Exemption from taxation.—The effectuation of the authorized purposes of the agency is in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions. For this reason, the agency is not required to pay any taxes or […]
348.0315 – Public accountability.
348.0315 Public accountability.— (1) The agency shall post the following information on its website: (a) Audited financial statements and any interim financial reports. (b) Board and committee meeting agendas, meeting packets, and minutes. (c) Bond covenants for any outstanding bond issues. (d) Agency budgets. (e) Agency contracts. For purposes of this paragraph, the term “contract” means a written agreement or purchase order […]
348.0316 – Eligibility for investments and security.
348.0316 Eligibility for investments and security.—Any bonds or other obligations issued pursuant to this part shall be and constitute legal investments for banks, savings banks, trustees, executors, administrators, and all other fiduciaries and for all state, municipal, and other public funds and shall also be and constitute securities eligible for deposit as security for all state, […]
348.0317 – Pledges enforceable by bondholders.
348.0317 Pledges enforceable by bondholders.—It is the express intention of this part that any pledge by the department of rates, fees, revenues, county gasoline tax funds, or other funds, as rentals, to the agency, or any covenants or agreements relative thereto, may be enforceable in any court of competent jurisdiction against the agency or directly against […]