1. (a) Requirements. Transportation Code, §361.282, authorizes the department to lease, sell, or otherwise convey all, or any portion of, a turnpike project to certain entities if the commission and the governor approve the transfer of the project as being in the best interests of the state and the entity receiving the turnpike project.

2. (b) Request. To secure approval under this section, the receiving entity must submit to the executive director:

   1. (1) a written commitment to the commission to maintain the facility in a safe and efficient manner; and
   2. (2) an evaluation of the impact of such action on regional mobility and project financial viability.

3. (c) Approval. In order to approve the lease, sale, or conveyance of a project, the commission must find that such transfer:

   1. (1) is in the best interests of the state;
   2. (2) is in the best interests of the entity receiving the project; and

   3. (3) will not adversely affect:

      1. (A) the financial viability of the project; or
      2. (B) regional mobility.
4. (d) Reimbursement. The receiving entity must agree to reimburse the department for any expenditures of the department for the construction, operation, and maintenance of the project that have not been reimbursed with the proceeds of bonds issued by the commission for the project, unless the commission finds that the transfer will result in substantial net benefits to the state, the department, and the public that equal or exceed the amount of the repayment waived.

Source Note:The provisions of this §27.13 adopted to be effective effective March 18, 2004, 29 TexReg 2739.