1. (a) Commission analysis.

   1. (1) The commission may consider the advice of the staff of the department and consultants that the commission may choose regarding the sufficiency of the information, the probable accuracy of projections, the anticipated financial condition of the application and the project, the impact of the project on the economy and free trade, and any other information the commission determines appropriate.
   2. (2) The commission may use the Texas-Mexico Toll Bridge Study as the initial basis for evaluating the demand, impact on the economy and the potential impact on the free flow of trade anticipated by the project. An applicant may submit additional information which supports, amplifies, or rebuts data in the Texas-Mexico Toll Bridge Study in the applicant's feasibility study.

2. (b) Comments and commitments of other entities. Prior to granting approval of a project, the commission shall consider, but is not bound by:

   1. (1) the nature and extent of any commitments from Mexican authorities provided in accordance with §15.74(4) of this title (relating to Application); and
   2. (2) the views and comments of an agency or entity listed in §15.75 of this title (relating to Department Action).

3. (c) Project requirements. The commission will not approve a project unless it finds that:

   1. (1) the project will provide for all reasonable and feasible measures to avoid, minimize, or mitigate for adverse environmental impacts;
   2. (2) the project is consistent with the state transportation plan and, if appropriate, with the regional transportation plan developed by a metropolitan planning organization having jurisdiction over the project; and
   3. (3) the future transportation infrastructure, at the time of the bridge operations, on both sides of the border will be of sufficient capacity to support the new structure.

4. (d) Financial requirements. The commission will not approve a project if it finds that the project's financial prospects over the expected financing period of the project are likely to categorize the project as being of less than investment quality due to one or more of the following conditions:

   1. (1) the project has more than minimal speculative elements in its prospective finances;
   2. (2) the financial future of the project cannot be considered as well assured;
   3. (3) protection of any lenders or bond holders is not well safeguarded over the expected financing period of the project; or
   4. (4) the project will probably cause negative impacts on the economy or the free flow of trade that are greater than any probable positive impacts in the Texas-Mexico Toll Bridge Study sector where the project is located and adjacent sectors.

5. (e) Final action.

   1. (1) Approval or disapproval of the project shall be by written order of the commission, and shall include the rationale, findings, and conclusions on which approval or disapproval is based.
   2. (2) The commission will approve or disapprove the application within 120 days of the date of receipt of a complete application. If an application is returned under §15.75 of this title (relating to Department Action), the commission will approve or disapprove the application within 120 days of the date that re-submitted complete application has been received by the department.
   3. (3) The department will provide written notification of the commission's action to the applicant and the Office of the Governor.

Source Note:The provisions of this §15.76 adopted to be effective December 26, 1995, 20 TexReg 10622.