Sec. 371.102. TERMINATION OF CERTAIN COMPREHENSIVE DEVELOPMENT AGREEMENTS. If a toll project entity elects to terminate a comprehensive development agreement under which a private participant receives the right to operate and collect revenue from a project, the entity may:
(1) if authorized to issue bonds for that purpose, issue bonds to:
(A) make any applicable termination payments to the private participant; or
(B) purchase the interest of the private participant in the comprehensive development agreement or related property; or
(2) provide for the payment of obligations of the private participant incurred pursuant to the comprehensive development agreement.
Added by Acts 2007, 80th Leg., R.S., Ch. 264 (S.B. 792), Sec. 11.01, eff. June 11, 2007.
Structure Texas Statutes
Subtitle G - Turnpikes and Toll Projects
Chapter 371 - Comprehensive Development Agreements for Highway Toll Projects
Subchapter C. Contract Provisions
Section 371.101. Termination for Convenience
Section 371.102. Termination of Certain Comprehensive Development Agreements
Section 371.103. Prohibition Against Limiting or Prohibiting Construction of Transportation Projects