Sec. 371.102. TERMINATION OF CERTAIN COMPREHENSIVE DEVELOPMENT AGREEMENTS

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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 , Sec. 11.01, eff. June 11, 2007.

                    
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