(a) In this section, “local government” means a:
(1) county, municipality, special district, or other political subdivision of this state;
(2) local government corporation created under Subchapter D, Chapter 431; or
(3) combination of two or more entities described by Subdivision (1) or (2).
(b) A local government may enter into an agreement with an authority or a private entity under which the local government assists in the financing of the construction, maintenance, and operation of a turnpike project located in the government’s jurisdiction in return for a percentage of the revenue from the project.
Terms Used In Texas Transportation Code 370.317
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(c) A local government may use any revenue available for road purposes, including bond and tax proceeds, to provide financing under Subsection (b).
(d) Repealed by Acts 2011, 82nd Leg., R.S., Ch. 1279, Sec. 17, eff. June 17, 2011.
(e) Revenue received by a local government under an agreement under this section must be used for transportation purposes.