These developments have made investors more interested in toll facilities. They are, after all, in essence a business. Capital must be raised based on prospect of a return on investment. This is an investment in a productive capital asset - a road or a bridge or a tunnel - which provides a service. This service is the pavement which allows a speedy, safe and direct journey. It has to be sufficiently superior to alternatives to ensure that people voluntarily pay the toll to use it. The service can be sold to users for a fee because access to the facility can be made conditional on payment of the toll. The job of the toll road management is to invest wisely in capital investment and to design and manage the facility in such a way that it provides services of greater value to customers than the costs - capital and operating. To expand the business, a rate of return on investment is needed that is competitive with alternatives.
Over the great range of goods and services provided in the economy, business is usually conducted by investor-owned businesses rather than by governments. Political opinion,limitations on hiring and contracting, and complying with the general restrictions that arise when dealing with a legislative body all contribute to the challenging environment that exists when government tries to enter the business world.
Public authority toll roads are pulled in two different directions. The capital markets, which buy their bonds, pull them in the direction of independence from political control so they will be run in a manner which will generate sufficient revenue to service their debt. However, they are also pulled in the direction of "accountability." If their commissioners are appointed for long terms, they are accused of becoming a "power unto themselves" and not accountable. Thus, such roads tend to be launched as independent entities to raise capital, and then drawn into the political arena. Sometimes they are incorporated into the state department of transportation, until the argument for independence is made again. This tension, and the resulting instability, seems inherent when a government authority conducts a business.
These problems with the public authority model have led to a widespread international movement toward investor toll concessions.