2018 Colorado Revised Statutes
Title 43 - Transportation
Special Highway Construction
Article 3 - Special Highway Construction
Part 2 - Turnpikes
§ 43-3-202.5. Public-private initiatives - legislative declaration

  • (1) The general assembly hereby finds and declares that:

    • (a) The department of transportation is in need of funds to invest in new infrastructure projects, including turnpikes, within the state transportation system, and public-private partnerships can provide the state with a new source of capital for such projects;

    • (b) Privately-developed transportation projects can result in time and cost savings, risk reduction, and new tax revenues to the state; and

    • (c) Public-private agreements can be utilized by the state not only for the development of new turnpikes but also for the modernization and improvement of existing turnpikes.

  • (2) The department of transportation may enter into public-private initiatives pursuant to part 12 of article 1 of this title for the following purposes:

    • (a) To design, finance, construct, and operate a new turnpike project within the state; or

    • (b) To improve an existing turnpike project in the state by modernizing, upgrading, expanding, or maintaining an existing turnpike facility.

  • (3) (a) The department of transportation is authorized to solicit and consider proposals, enter into agreements, grant public benefits, and accept contributions for public-private initiatives pursuant to part 12 of article 1 of this title concerning the purposes set forth in subsection (2) of this section.

    • (b) As used in this subsection (3), "public benefit" has the same meaning as set forth in section 43-1-1201 (2).

  • (4) A public-private initiative under this section shall include a provision that the public or private entity shall secure and maintain liability insurance coverage during the construction and improvement of any turnpike project in amounts appropriate to protect a project's viability.

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