(1) Upon the completion of the construction of such toll or free tunnel, the transportation commission has the power to establish and collect fees, fares, and tolls for the privilege of traveling through such tunnel and over the approaches thereto, and to credit all such fees, fares, and tolls and all income, however derived therefrom, to the payment of the maintenance and operation of said tunnel.
(2) In the event the commission shall, by contract as provided in section 43-3-403 (1), authorize the construction, maintenance, and operation of such tunnel by a private person, firm, or corporation, such contractor shall be reimbursed for the cost of such construction, maintenance, and operation together with a reasonable profit thereon only from fees, fares, and tolls to be charged by such contractor for the privilege of traveling through such tunnel and over the approaches thereto. All such schedules or amendments to schedules containing fees, fares, and tolls to be charged by such contractor shall be approved by the commission before the same become effective. Said contract shall also provide for the duration thereof and for such limitations, obligations, and duties in connection with the construction, maintenance, and operation of such tunnel as the commission may determine to be advisable.
(3) The commission has the power to adopt such rules and regulations governing the use of said tunnel, whether or not such tunnel was constructed and operated by the commission or by a private person, firm, or corporation, as the commission may determine to be advisable, and the commission shall exercise such other powers and authority as may be necessary or convenient to the practical and full operation and use of such tunnel.
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