1. (a) Requirements. Transportation Code, §361.282, authorizes the authority to lease, sell, or otherwise convey all, or any portion of, a turnpike project to certain entities if the authority, 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 authority must submit a written request for approval to the executive director. Such request must be accompanied by:

   1. (1) a written commitment to the commission from the receiving entity 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.

Source Note:The provisions of this §27.16 adopted to be effective March 21, 1999, 24 TexReg 1839.