(1) The Department of Transportation shall erect tourist-oriented directional sign panels on the right-of-way of the rural highways pursuant to section 39-207 under the following conditions:
(a) No state funds shall be used for the erection, maintenance, or servicing of the sign panels;
(b) The sign panels shall be erected in accordance with federal standards and the rules and regulations adopted and promulgated by the department;
(c) The sign panels may be erected by the department or by a contractor selected by the department through the competitive negotiation process;
(d) No more than three sign panels shall be installed on the approach to an intersection; and
(e) The department shall charge an annual fee in an amount equal to the fair market rental value of the sign panel site and any other cost to the state associated with the erection, maintenance, or servicing of tourist-oriented directional sign panels. If the sign panel is erected by a contractor, the annual fee to the department shall be limited to the fair market rental value of the sign panel site.
(2) All revenue received for the posting or erecting of tourist-oriented directional sign panels pursuant to this section shall be deposited in the Highway Cash Fund, except that any revenue received from the annual fee and for posting or erecting such sign panels in excess of the state's costs shall be deposited in the General Fund.