Texas Transportation Code

§ 366.036 — TRANSFER OF TURNPIKE PROJECT OR SYSTEM

TN § 366.036Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 366. REGIONAL TOLLWAY AUTHORITIES · Art. B. CREATION AND POWERS OF REGIONAL TOLLWAY AUTHORITIES

Statute text

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(a)An authority may transfer any of its turnpike projects or systems to one or more local governmental entities if:

(1)the authority has commitments from the governing bodies of the local governmental entities to assume jurisdiction over the transferred projects or systems;

(2)property and contract rights in the transferred projects or systems and bonds issued for the projects or systems are not affected unfavorably;

(3)the transfer is not prohibited under the bond proceedings applicable to the transferred projects or systems;

(4)adequate provision has been made for the assumption of all debts, obligations, and liabilities of the authority relating to the transferred projects or systems by the local governmental entities assuming jurisdiction over the transferred projects or systems;

(5)the local governmental entities are authorized to assume jurisdiction over the transferred projects or systems and to assume the debts, obligations, and liabilities of the authority relating to the transferred projects or systems; and

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Legislative history

Added by Acts 2005, 79th Leg., Ch. 281 (H.B. 2702), Sec. 2.59, eff. June 14, 2005.