CROWN POINT, Ind. (AP): Officials from two northwest Indiana counties say their plan lease to lease the Indiana Toll Road would bring in payments of $5 million a year and taxpayers would not be financially liable if revenues do not live up to expectations.

Lake and LaPorte counties have announced plan to form a nonprofit public-benefit corporation to lease the toll road after the Australian-Spanish consortium that leased it went bankrupt. Officials from the two counties issued a joint statement Friday announcing they will be bringing the proposed agreement before their councils and board of commissioners by mid-March.

Other northern Indiana counties the Toll Road passes through decided against trying to take part in the proposed deal. Completed bids must be submitted by March 15.