| (a) Authorization to negotiate final agreement. The executive director will submit to the commission a summary of the final financial terms of a proposed pass-through agreement. The final financial terms may consist of specific payment terms and schedules or may consist of a range of acceptable parameters. The commission may authorize the executive director to negotiate and execute a final agreement only if it finds that: (1) the project serves the public interest and not merely a private interest; (2) the proposed pass-through agreement is in the best interest of the state; (3) the project is compatible with existing and planned transportation facilities; and (4) the project furthers state, regional, and local transportation plans, programs, policies, and goals. (b) Contents of pass-through agreement. Before any work is done for which reimbursement will be requested through a pass-through toll or fare, the department and the public or private entity shall execute a pass-through agreement containing, at a minimum, the following: (1) identification of the scope and nature of the work to be performed; (2) all financial terms, as applicable, including the levels of pass-through tolls or fares, maximum and minimum periodic payments, and maximum and minimum total payments; (3) allocation of responsibility for all significant work to be performed, including environmental documentation, right of way acquisition, utility adjustments, engineering, construction, and maintenance; (4) provision for the collection and use of toll or other revenues, if applicable; (5) all provisions required by state or federal law; (6) a map showing the location of the project; (7) a proposed project schedule; (8) an estimated budget; (9) procedures and timelines for the submission of materials and for approvals; and (10) for a local government, a copy of the resolution or ordinance authorizing execution of the agreement. |
