Sec. 1. (a) A governmental body may enter into a public-private agreement with respect to a transportation project, if the governmental body complies with the statutory requirements under this article. Any public-private agreement with respect to a transportation project may use availability payments to finance all or a portion of the project. (b) A governmental […]
Sec. 2. (a) Before developing or operating the qualifying project, the operator must enter into a public-private agreement with the governmental body. The public-private agreement must provide for the following: (1) Delivery of performance and payment bonds, letters of credit, or other security acceptable to the governmental body in connection with the development or operation […]
Sec. 3. (a) The operator shall do the following: (1) Develop or operate the qualifying project in a manner that is acceptable to the governmental body in accordance with the provisions of the public-private agreement. (2) Maintain or provide by contract for the maintenance or improvement of the qualifying project if required by the public-private […]
