Sec. 8200.053. REIMBURSEMENT FOR ROAD PROJECT. (a) The district may:
(1) reimburse a private person for money spent to construct a road or road facility that is dedicated or otherwise transferred to public use; or
(2) purchase a road or road facility constructed by a private person.
(b) The amount paid for the reimbursement or for the purchase of a road or road facility 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 facility as determined by the board.
(c) The reimbursement or purchase of a road or road facility 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 under which the road or road facility is to be dedicated or transferred for the benefit of the public.
Added by Acts 2007, 80th Leg., R.S., Ch. 959 (H.B. 4043), Sec. 1, eff. June 15, 2007.
Last modified: September 28, 2016