Tex. Transportation Code § 371.102
This is the official text of Tex. Transportation Code § 371.102, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 371.102. TERMINATION OF CERTAIN COMPREHENSIVE DEVELOPMENT AGREEMENTS.
Official statutory text
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.
(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.
Status: in_force · Read it on the official government site
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