Sec. 370.166. PARTICIPATION PAYMENT FOR REAL PROPERTY. (a) As an alternative to paying for an interest in real property or a real property right with a single fixed payment, the authority may, with the owner's consent, pay the owner by means of a participation payment.
(b) A right to receive a participation payment under this section is subordinate to any right to receive a fee as payment on the principal of or interest on a bond that is issued for the construction of the applicable segment.
(c) In this section, "participation payment" means an intangible legal right to receive a percentage of one or more identified fees related to a segment constructed by the authority.
Added by Acts 2003, 78th Leg., ch. 1325, Sec. 2.01, eff. June 21, 2003.
Structure Texas Statutes
Subtitle G - Turnpikes and Toll Projects
Chapter 370 - Regional Mobility Authorities
Subchapter E. Acquisition, Construction, and Operation of Transportation Projects
Section 370.161. Transportation Projects Extending Into Other Counties
Section 370.162. Powers and Procedures of Authority in Acquiring Property
Section 370.163. Acquisition of Property
Section 370.164. Declaration of Taking
Section 370.165. Possession of Property
Section 370.166. Participation Payment for Real Property
Section 370.167. Severance of Real Property
Section 370.168. Acquisition of Rights in Public Real Property
Section 370.169. Compensation for and Restoration of Public Property
Section 370.170. Public Utility Facilities
Section 370.171. Lease, Sale, or Conveyance of Transportation Project
Section 370.173. Authority Revolving Fund
Section 370.174. Use of Surplus Revenue
Section 370.175. Exemption From Taxation or Assessment
Section 370.176. Actions Affecting Existing Roads
Section 370.177. Failure or Refusal to Pay Turnpike Project Toll; Offense; Administrative Penalty
Section 370.178. Use and Return of Transponders
Section 370.179. Controlled Access to Turnpike Projects
Section 370.180. Promotion of Transportation Project
Section 370.181. Operation of Transportation Project
Section 370.183. Disadvantaged Businesses
Section 370.185. Competitive Bidding
Section 370.186. Contracts With Governmental Entities
Section 370.187. Project Approval
Section 370.189. Department Maintenance and Operation
Section 370.190. Property of Certain Transportation Authorities
Section 370.191. Commercial Transportation Processing Systems