5. Power to enter into agreement for development of roads.
(1)The State Government may enter into an agreement with any person or any local body in relation to the development of any road or section thereof:Provided that where the State Government has not initiated any scheme for development of any road or section thereof and any proposal is received from any person or local body unsolicited or suo moto, it may after considering the same, invite competitive proposals by public notice and the original proposer shall be given priority.(2)Notwithstanding anything contained in section 4, the person or the body referred to in sub-section (1) shall be entitled to collect and retain the whole or such portion of the fees leviable under section 4 and for such period, as may be agreed upon between the State Government and such person or body, having regard to the expenditure involved in the development of road and collection of the fees, interest on the capital invested, reasonable return on the investment and the volume of traffic.(3)The person or body referred to in sub-section (1) shall have powers to regulate and control the traffic in accordance with the provisions contained in Chapter VIII of the Motor Vehicles Act, 1988 (Central Act No. 59 of 1988) on the road or section thereof forming subject matter of the agreement entered into under sub-section (1).
