(1) If any bonds are 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 pay for, as applicable:
Any bonds issued pursuant to this part 2 and interest thereon, all sinking fund requirements, and any other requirements provided for by resolution of the transportation commission or by any trust indenture to which the department is a party; or
The reasonable return on investment of any private entity financing the project bymeans of a public-private initiative pursuant to section 43-3-202.5 and part 12 of article 1 of this title.
If amounts generated from the fees, fares, and tolls collected exceed the amountrequired in subsection (1) of this section, such fees, fares, and tolls shall then be used to pay the necessary costs for the proper operation, maintenance, and repair of any turnpike project.
If the transportation commission determines that a turnpike project is being adequately maintained, the department may use any proceeds in the special sinking fund in excess of the amounts required under subsections (1) and (2) of this section for the maintenance, construction, and operation of a network of turnpikes.
Source: L. 96: Entire section added, p. 466, § 9, effective April 23. L. 98: IP(1) amended, p. 1097, § 14, effective June 1.