Sec. 284.011. TRANSFER OF PROJECT TO DEPARTMENT. (a) A county may transfer to the department a project under this chapter that has outstanding bonded indebtedness if the commission:
(1) agrees to the transfer; and
(2) agrees to assume the outstanding bonded indebtedness.
(b) The commission may assume the outstanding bonded indebtedness only if the assumption:
(1) is not prohibited under the terms of an existing trust agreement or indenture securing bonds or other obligations issued by the commission for another project;
(2) does not prevent the commission from complying with covenants of the commission under an existing trust agreement or indenture; and
(3) does not cause a rating agency maintaining a rating on outstanding obligations of the commission to lower the existing rating.
(c) If the commission agrees to the transfer under Subsection (a), the county shall convey the project and any real property acquired to construct or operate the project to the department.
(d) At the time of a conveyance under this section, the commission shall designate the project as part of the state highway system. After the designation, the county has no liability, responsibility, or duty to maintain or operate the project.
Added by Acts 2005, 79th Leg., Ch. 281 (H.B. 2702), Sec. 2.50, eff. June 14, 2005.
Structure Texas Statutes
Subtitle D - Road Laws Relating to Particular Counties
Chapter 284 - Causeways, Bridges, Tunnels, Turnpikes, Ferries, and Highways in Certain Counties
Subchapter A. General Provisions
Section 284.002. Applicability to Certain Counties and Local Government Corporations
Section 284.003. Project Authorized; Construction, Operation, and Cost
Section 284.0031. Other Road, Street, or Highway Projects
Section 284.004. Use of County Property
Section 284.005. Conveyance to County
Section 284.006. Federal or State Aid
Section 284.007. Contracts for Historically Underutilized Businesses
Section 284.008. Powers of Commission
Section 284.011. Transfer of Project to Department
Section 284.012. Transfer of Assets
Section 284.013. Conveyance of Ferry Connecting State Highways