RS 48:250.4.2

193 words·~1 min read·/la/title-48/48-920

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RS 48:250.4.2

§250.4.2. Use of toll revenue and credits; Belle Chasse Bridge public-private partnership

A. The department shall use any revenue or credits generated in connection with the Belle Chasse public-private partnership, including windfall proceeds payments, distribution of refinancing gain, and toll credits only as follows:

(1)To reduce toll rates on the project.

(2)To pay amounts owed to the developer for exercising the department's early handback option.

(3)To pay any annual consumer price index

(CPI)buy-down payment amount.

(4)For department projects or improvements within any area identified per the public-private partnership contract for any alternative facility.

B. Any use of funds or credits generated in connection with the Belle Chasse Bridge public-private partnership shall conform to the provisions of the comprehensive agreement governing the partnership and all applicable laws.

C. Prior to using any revenue or credits generated in connection with the Belle Chasse Bridge public-private partnership, the secretary shall provide notice of the intended use to the legislative delegations from Plaquemines Parish and receive approval for such use from the Joint Legislative Committee on Transportation, Highways and Public Works.

Acts 2024, No. 73, §1, eff. May 15, 2024.