South Carolina Code 57-3-200. Department of Transportation authorized to enter into agreements to finance construction and maintenance of highways, roads, streets, and bridges
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Terms Used In South Carolina Code 57-3-200
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
From the funds appropriated to the Department of Transportation and from any other sources which may be available to the Department, the Department of Transportation may expend such funds as it deems necessary to enter into partnership agreements with political subdivisions including authorized transportation authorities, and private entities to finance, by tolls and other financing methods, the cost of acquiring, constructing, equipping, maintaining and operating highways, roads, streets and bridges in this State. The provisions of this Section must not be construed to confer upon the Department of Transportation or political subdivisions any power to finance by tolls or other means the acquisition, construction, equipping, maintenance or operation which the Department of Transportation or political subdivisions does not possess under other provisions of this Code.