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

Source: Section 371.102 — Termination of Certain Comprehensive Development Agreements, https://statutes.­capitol.­texas.­gov/Docs/TN/htm/TN.­371.­htm#371.­102 (accessed May 4, 2024).

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Accessed:
May 4, 2024

§ 371.102’s source at texas​.gov