CathyInBlue
Grandmaster
Failed toll road privatization leaves Indiana in driver's seat | Fox News
The Indiana Toll Road Consession Company is going bankrupt, but their contract insulates Indiana taxpayers from any liability for their inability to collect enough taxes to remain solvent. Absolute worst case, the ITR reverts to state government ownership and the state highway dept. resumes operation, with all profit going straight into the state highway fund. Regardless who ends up operating the ITR, the state keeps every penny of the up front monies paid by ITRCC for Indiana's roadway and bridge upkeep.
The Indiana Toll Road Consession Company is going bankrupt, but their contract insulates Indiana taxpayers from any liability for their inability to collect enough taxes to remain solvent. Absolute worst case, the ITR reverts to state government ownership and the state highway dept. resumes operation, with all profit going straight into the state highway fund. Regardless who ends up operating the ITR, the state keeps every penny of the up front monies paid by ITRCC for Indiana's roadway and bridge upkeep.