ORS 383.004 Establishment of tolls; rules

Except as provided in subsection (3) of this section, a toll may not be established unless the Oregon Transportation Commission has reviewed and approved the toll. The commission shall adopt rules specifying the process under which proposals to establish tolls will be reviewed. When reviewing a proposal to establish tolls, the commission shall take into consideration:

The amount and classification of the traffic using, or anticipated to use, the tollway;

The amount of the toll proposed to be established for each class or category of tollway user and, if applicable, the different amounts of the toll depending on time and day of use;

The extent of the tollway, including improvements necessary for tollway operation and improvements necessary to support the flow of traffic onto or off of the tollway;

The location of toll booths or electronic toll collection systems to collect the toll for the tollway;

The cost of constructing, reconstructing, improving, installing, maintaining, repairing and operating the tollway;

The amount of indebtedness incurred for the construction of the tollway and all expenses and obligations related to the indebtedness including, without limitation, financial covenants, debt service requirements, reserve requirements and any other funding requirements established under the terms of any indenture prepared under ORS 383.225 and any other contracts establishing the terms of the indebtedness, if any;

The value of assets, equipment and services required for the operation of the tollway;

The period of time during which the toll will be in effect;

The process for altering the amount of the toll during the period of operation of the tollway;

The method of collecting the toll;

The rate of return that would be fair and reasonable based on equivalent market standards for a private equity holder, if any, in the tollway; and

Traffic demand management.

The Oregon Transportation Commission shall maintain tolls at rates sufficient to meet:

Obligations to the holders of tollway project revenue bonds issued under ORS 383.200;

Obligations and covenants under any revenue declaration or indenture entered into under ORS 383.225 for outstanding tollway project revenue bonds issued by the State Treasurer; and

The requirements of any related credit enhancement devices, as defined in ORS 286A.001, or instruments defining the rights of holders of such instruments entered in connection with tollway project revenue bonds.

Nothing in ORS 383.001 to 383.245 prohibits a city or county from establishing a toll on any highway, as defined in ORS 801.305, that the city or county has jurisdiction over as a road authority pursuant to ORS 810.010.

Nothing in ORS 383.001 to 383.245 prohibits Multnomah County from establishing a toll on the bridges across the Willamette River that are within the boundaries of the City of Portland and that are operated and maintained by Multnomah County as required under ORS 382.305 and 382.310.

Nothing in ORS 383.001 to 383.245 prohibits the Port of Hood River from establishing a toll on the bridges across the Columbia River that are operated and maintained by the port.

Nothing in ORS 383.001 to 383.245 prohibits the Port of Cascade Locks from establishing a toll on the bridges across the Columbia River that are operated and maintained by the port.

Nothing in ORS 383.001 to 383.245 prohibits a commission formed under ORS 381.705 from establishing a toll on a bridge across the Columbia River that is operated and maintained by the commission or the commission’s designee.