Tex. Transp. Code § 371.102

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 371.102 - Termination of Certain Comprehensive Development Agreements

If a toll project entity elects to terminate a comprehensive development agreement under which a private participant receives the right to operate and collect revenue from a project, the entity may:

(1) if authorized to issue bonds for that purpose, issue bonds to:
(A) make any applicable termination payments to the private participant; or
(B) purchase the interest of the private participant in the comprehensive development agreement or related property; or
(2) provide for the payment of obligations of the private participant incurred pursuant to the comprehensive development agreement.

Tex. Transp. Code § 371.102

Added by Acts 2007, 80th Leg., R.S., Ch. 264 (S.B. 792), Sec. 11.01, eff. June 11, 2007.