Sec. 366.405. OWNERSHIP OF TURNPIKE PROJECTS. (a) A turnpike project that is the subject of a comprehensive development agreement with a private entity, including the facilities acquired or constructed on the project, is public property and is owned by the authority.
(b) Notwithstanding Subsection (a), an authority may enter into an agreement that provides for the lease of rights-of-way, the granting of easements, the issuance of franchises, licenses, or permits, or any lawful uses to enable a private entity to construct, operate, and maintain a turnpike project, including supplemental facilities. At the termination of the agreement, the turnpike project, including the facilities, are to be in a state of proper maintenance as determined by the authority and shall be returned to the authority in satisfactory condition at no further cost.
Added by Acts 2007, 80th Leg., R.S., Ch. 264 (S.B. 792), Sec. 9.03, eff. June 11, 2007.
Structure Texas Statutes
Subtitle G - Turnpikes and Toll Projects
Chapter 366 - Regional Tollway Authorities
Subchapter H. Comprehensive Development Agreements
Section 366.401. Comprehensive Development Agreements
Section 366.402. Process for Entering Into Comprehensive Development Agreements
Section 366.403. Confidentiality of Information
Section 366.404. Performance and Payment Security
Section 366.405. Ownership of Turnpike Projects
Section 366.406. Liability for Private Obligations
Section 366.407. Terms of Private Participation
Section 366.408. Rules, Procedures, and Guidelines Governing Selection and Negotiating Process