Sec. 8150.153. REIMBURSEMENT FOR ROAD PROJECT. (a) The district may:
(1) reimburse a private person for money spent to construct a road or road improvement that is dedicated or otherwise transferred to public use; or
(2) purchase a road or road improvement constructed by a private person.
(b) The amount paid for the reimbursement or for the purchase of a road or road improvement under Subsection (a) may:
(1) include all construction costs, including engineering, legal, financing, and other expenses incident to the construction; or
(2) be at a price not to exceed the replacement cost of the road or road improvement as determined by the board.
(c) The reimbursement or purchase of a road or road improvement may be paid for with proceeds from the sale of the district's bonds or from any other money available to the district.
(d) The district may enter into an agreement to use the proceeds of a subsequent bond sale to reimburse a private person under this section. The agreement may provide the terms and conditions under which the road or road improvement is to be dedicated or transferred for the benefit of the public.
Added by Acts 2005, 79th Leg., Ch. 1175 (H.B. 3554), Sec. 1, eff. June 18, 2005.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1265 (S.B. 1880), Sec. 8, eff. June 17, 2011.
Last modified: September 28, 2016