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A BILL TO BE ENTITLED
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AN ACT
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relating to the publication of certain information regarding |
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proposed toll projects. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subtitle G, Title 6, Transportation Code, is |
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amended by adding Chapter 371 to read as follows: |
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CHAPTER 371. PROVISIONS APPLICABLE TO MORE THAN |
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ONE TYPE OF TOLL PROJECT |
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SUBCHAPTER A. GENERAL PROVISIONS |
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Sec. 371.001. DEFINITIONS. In this chapter: |
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(1) "Toll project" means a toll project described by |
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Section 201.001(b), regardless of whether the toll project is: |
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(A) a part of the state highway system; or |
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(B) subject to the jurisdiction of the |
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department. |
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(2) "Toll project entity" means an entity authorized |
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by law to acquire, design, construct, operate, and maintain a toll |
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project, including: |
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(A) the department; |
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(B) a regional tollway authority under Chapter |
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366; |
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(C) a regional mobility authority under Chapter |
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370; or |
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(D) a county under Chapter 284. |
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[Sections 371.002-371.050 reserved for expansion] |
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SUBCHAPTER B. PUBLIC DISCLOSURE |
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Sec. 371.051. DISCLOSURE OF FINANCIAL INFORMATION. |
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(a) Before a toll project entity enters into a contract for the |
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construction of a toll project, the entity shall publish in the |
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manner provided by Section 371.052 information regarding: |
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(1) project financing, including: |
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(A) the total amount of debt that has been and |
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will be assumed to acquire, design, construct, operate, and |
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maintain the toll project; |
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(B) a description of how the debt will be repaid, |
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including a projected timeline for repaying the debt; and |
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(C) the projected amount of interest that will be |
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paid on the debt; |
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(2) whether the toll project will continue to be |
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tolled after the debt has been repaid; and |
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(3) a description of the method that will be used to |
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set toll rates. |
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(b) A toll project entity may not enter into a contract for |
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the construction of a toll project before the 30th day after the |
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date the information is first published under Section 371.052. |
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Sec. 371.052. DISCLOSURE BY PUBLICATION. (a) Information |
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under Section 371.051 must be published in a newspaper published in |
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the county in which the toll project is to be constructed once a |
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week for at least two weeks before the time set for entering into |
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the contract and in two other newspapers that the toll project |
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entity may designate. |
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(b) Instead of the notice required by Subsection (a), if the |
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toll project entity estimates that the contract involves an amount |
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less than $300,000, the information may be published in two |
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successive issues of a newspaper published in the county in which |
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the improvement is to be made. |
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(c) If a newspaper is not published in the county in which |
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the toll project is to be constructed, notice shall be published in |
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a newspaper published in the county: |
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(1) nearest the county seat of the county in which the |
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improvement is to be made; and |
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(2) in which a newspaper is published. |
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Sec. 371.053. HEARING. A toll project entity shall hold a |
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public hearing on the information published under Section 371.052 |
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after the date the information is first published and before the |
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entity enters into the contract. |
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SECTION 2. This Act takes effect September 1, 2007. |