When (1) all bonds issued under the provisions of this article and all other debt made or issued to finance any project or projects and the interest thereon and all other obligations related thereto shall have been paid, or a sufficient amount for the payment of all the bonds and debt and the interest thereon and all other obligations related thereto, to the maturity thereof shall have been set aside in trust for the benefit of the holders thereof, and (2) all leases, concessions, and similar agreements and arrangements relating to any project or projects have expired or terminated, then the project or projects, if then in good condition and repair, as determined by the department, shall be transferred by the authority to the state highway system and shall thereafter be owned, operated, and maintained by the department.
Structure Code of Alabama
Title 23 - Highways, Roads, Bridges and Ferries.
Chapter 2 - Toll Roads, Bridges and Ferries.
Article 5 - Alabama Toll Road, Bridge and Tunnel Authority.
Section 23-2-140 - Short Title.
Section 23-2-141 - Intent and Purpose of Article.
Section 23-2-142 - Definitions.
Section 23-2-143 - Authority Established; Composition; Meetings; Fidelity Bonds; Compensation.
Section 23-2-144 - Powers of the Authority.
Section 23-2-147 - Bonds; Issuance; Forms; Procedures, Etc.
Section 23-2-148 - Refunding Bonds; Purposes.
Section 23-2-151 - Revenues Deemed Trust Funds; Depository Deemed Trustee.
Section 23-2-152 - Bondholder's and Trustee's Rights of Enforcement; Scope of Rights.
Section 23-2-155 - Authority to Maintain Own Toll Roads, Bridges, and Tunnels.
Section 23-2-157 - Lease, Grant, etc., of County, City, etc., Property to Authority.
Section 23-2-158 - Annual Report to Legislature; Contents; Annual Audit; Expense.
Section 23-2-159 - Conflict of Interest; Penalty.
Section 23-2-160 - Transfer of Projects to State Highway System.
Section 23-2-161 - Study of Proposed Projects; Reimbursement of Funds; Indebtedness.
Section 23-2-162 - Advertisement of Plans; Public Hearing.
Section 23-2-163 - Applicability to Existing Roadway Capacity.