§2037. Privately owned and financed tollways

A. Should a private entity independently desire to own, plan, design, finance, construct, maintain, and operate a tollway on privately owned property or on leased property, any parish police jury, parish council, or other parish governing authority or municipality acting in its individual capacity may enter into a cooperative endeavor agreement as authorized by Article VII, Section 14(C) of the Constitution of Louisiana to facilitate the construction of such private tollway within the parish, without the approval or participation of an authority. Public funds may only be expended in connection with a privately owned tollway for improvements or expenses incurred outside the property lines of the privately owned tollway right-of-way. If not exclusive, no right shall be granted to another private entity allowing construction of a tollway within two miles of the tollway which is the subject of the cooperative endeavor agreement. Such cooperative endeavor agreement shall be approved by ordinance of such parish governing authority or municipality and shall be executed prior to construction of the privately owned tollway and shall provide for but not be limited to the following:

(1) The right to construct, own, and operate the tollway and that such right shall be irrevocable, but need not be exclusive.

(2) The right to own the tollway and to set, fix, change, and collect tolls all in perpetuity.

(3) Rights of assignment and amendment.

(4) The duty of the private entity to provide for design and construction of the tollway and standards therefor.

(5) Provisions for maintenance and operation, liability, and other operational matters.

(6) Rights and duties of the parties regarding connecting roads, highways, streets, bridges, or transitways.

(7) Such other matters as shall be deemed appropriate or necessary.

B. In the event a private tollway is constructed on privately owned property or on leased property under the provisions of this Section, the provisions of Part I of Chapter 3 of this Title, shall not apply.

Acts 1997, No. 1017, §1, eff. July 11, 1997.