The Southern Connector was constructed as a public–private partnership between the South Carolina Department of Transportation (SCDOT) and Interwest Carolina Transportation Group, LLC, a development team that included a not-for-profit corporation called Connector 2000 Association, Inc. (C2A). Under this agreement, C2A operates the toll road under a 50-year license. They were responsible for financing, designing, constructing, operating, and maintaining the road during this period and the toll revenue would be used to pay them for these efforts. To finance the project, C2A sold bonds that were tax-exempt under Internal Revenue Service Rule 63-20, which provides that the bonds sold will be exempt if they finance an activity which is "public in nature". The highway opened in February 2001, nine months ahead of schedule. By 2007, the Connector 2000 Association was having financial difficulties because ridership on the toll road was not meeting original estimates. In late 2007, the association began looking for a concessionaire to take over the operation and financial liability of the toll road. By early 2008, C2A had received a default notice from their bond trustee In January 2010, the bond trustee missed an interest payment, and the C2A was more than $8 million (equivalent to $ in ) behind in its payments to SCDOT for the maintenance and license fees under their agreement. On June 24, 2010, the Southern Connector filed for bankruptcy. The corporation emerged from bankruptcy on March 28, 2011, by restructuring bond debt and their concession and maintenance agreement with SCDOT. Tolls were raised on January 2, 2012, as part of the settlement. In 2016, the Southern Connector surpassed 75 million toll transactions since its inception. Between the two main toll plazas, the speed limit has been raised to . Tolls There are two toll plazas located along the Southern Connector, known as the east and west plazas. Toll booths are located on entrance/exit ramps on Fork Shoals Road (exit 4) and Piedmont Highway (exit 10). The toll plazas have both electronic toll collection (ETC) and cash lanes; toll booths located on ramps accept only ETC or exact change only. Those that do not have exact change or do not pay the toll can fill out a "Pledge Payment Form"; violators have 30 days to remit payment before administrative fees are added to the toll due. Palmetto Pass is the only form of electronic toll collection accepted on the Southern Connector. Toll rates