Sec. 366.172. LEASE, SALE, OR CONVEYANCE OF TURNPIKE PROJECT. (a) An authority may lease, sell, or convey in another manner a turnpike project to the department, a county, or a local government corporation created under Chapter 431 only with the approval of the governing body of the entity to which the project is transferred.
(b) An agreement to lease, sell, or convey a turnpike project under this section must provide for the discharge and final payment or redemption of the authority's outstanding bonded indebtedness for the turnpike project and must not be prohibited under the bond proceedings applicable to the system, if any, of which the turnpike project is a part.
Added by Acts 1997, 75th Leg., ch. 1171, Sec. 7.24, eff. Sept. 1, 1997.
Structure Texas Statutes
Subtitle G - Turnpikes and Toll Projects
Chapter 366 - Regional Tollway Authorities
Subchapter E. Acquisition, Construction, and Operation of Turnpike Projects
Section 366.161. Turnpike Projects Extending Into Other Counties
Section 366.162. Powers and Procedures of Authority in Acquiring Property
Section 366.163. Acquisition of Property
Section 366.164. Right of Entry
Section 366.165. Condemnation of Real Property
Section 366.166. Declaration of Taking
Section 366.167. Possession of Property
Section 366.168. Severance of Real Property
Section 366.169. Acquisition of Rights in Public Real Property
Section 366.170. Compensation for and Restoration of Public Property
Section 366.171. Public Utility Facilities
Section 366.172. Lease, Sale, or Conveyance of Turnpike Project
Section 366.174. Authority Revolving Fund
Section 366.175. Use of Surplus Revenue
Section 366.176. Exemption From Taxation or Assessment
Section 366.177. Actions Affecting Existing Roads
Section 366.178. Failure or Refusal to Pay Toll
Section 366.179. Use and Return of Transponders
Section 366.180. Controlled Access to Turnpike Projects
Section 366.181. Promotion of Toll Roads
Section 366.182. Operation of Turnpike Project
Section 366.184. Disadvantaged Businesses
Section 366.185. Engineering, Design, and Construction Services