Subject to any applicable restrictions under federal law, an RMA may spend surplus revenue in the region on other transportation projects described in §26.65 of this subchapter by:

1. (1) assisting in the financing of a transportation project of a governmental entity; or

2. (2) constructing a transportation project and, on completion of the project, transferring the project to a governmental entity if:

   1. (A) approved by the commission under §26.64 of this subchapter;
   2. (B) the governmental entity authorizes the RMA to construct the project and agrees to assume all liability and responsibility for the maintenance and operation of the project upon its transfer; and
   3. (C) the project is constructed in compliance with all laws applicable to the governmental entity.

Source Note:The provisions of this §26.62 adopted to be effective July 18, 2002, 27 TexReg 6354.