Section 27-76-403 - Authority to contract

(a) A regional mobility authority created under this chapter may enter into agreements or contracts with a governmental entity or a private entity.(b) The types of agreements or contracts that a regional mobility authority may enter into under this chapter include without limitation:(1) Lease agreements;(2) Rental agreements;(3) Operating agreements;(4) Service agreements;(5) License agreements;(6) Promotional agreements;(7) Purchasing agreements; and(8) Public-private partnership agreements for transportation projects concerning rail, waterway, or trail.(c) The scope of agreements or contracts that a regional mobility authority may enter into under this chapter includes without limitation:(1) Rent, lease, or make property available for the benefit of users of a transportation project or a transportation system other than a public utility facility;(2) Plan, design, construct, operate, or maintain a transportation project on behalf of a governmental entity within the boundaries of the regional mobility authority; and(3) Acquire with the consent of a governmental entity or private entity a transportation project or transportation system from that entity and assume any debts,

of the regional mobility authority; and(3) Acquire with the consent of a governmental entity or private entity a transportation project or transportation system from that entity and assume any debts, obligations, and liabilities of the entity relating to a transportation project or transportation system transferred to the regional mobility authority, provided that a regional mobility authority shall not acquire a transportation project or transportation system from another public or private entity that is completed or for which a construction notice to proceed has been issued to convert the transportation project or transportation system to a toll facility project.(d) A regional mobility authority shall not sell a toll facility project to a private entity or enter into a lease for a toll facility or a concession agreement related to a toll facility.Acts 2007, No. 389, § 1; 2011, No. 524, § 2.