The commission may determine a loan repayment schedule. All corridor preservation loans shall be paid back according to the approved loan repayment schedule or the earlier of when the remainder of the right of way has been acquired, or when the project has been advertised for construction. If the commission determines an alignment for a transportation project is not feasible and property for the alignment was purchased under this program, the property shall be disposed of in accordance with Section 72-5-111. All loan repayments together with rents, lease proceeds, profits, and money resulting from the sale of excess properties shall be returned to the fund.

KEY: Marda Dillree Corridor Preservation Fund, transportation planning, right of way

Date of Last Change: April 21, 2011

Notice of Continuation: March 21, 2026

Authorizing, and Implemented or Interpreted Law: 72-2-117(6)(f); 72-2-117(9)(a)