§ 23-2-160 — Transfer of Projects to State Highway System

Alabama § 23-2-160

• Jurisdiction: Alabama
• Title 23: Highways, Roads, Bridges and Ferries
• Ch. 2: Toll Roads, Bridges and Ferries
• Art. 5: Alabama Toll Road, Bridge and Tunnel Authority

Text

When (1) all bonds issued under the provisions of this article and all other debt made or issued to finance any project or projects and the interest thereon and all other obligations related thereto shall have been paid, or a sufficient amount for the payment of all the bonds and debt and the interest thereon and all other obligations related thereto, to the maturity thereof shall have been set aside in trust for the benefit of the holders thereof, and (2) all leases, concessions, and similar agreements and arrangements relating to any project or projects have expired or terminated, then the project or projects, if then in good condition and repair, as determined by the department, shall be transferred by the authority to the state highway system and shall thereafter be owned, operated, and maintained by the department.

Legislative History

(Acts 1980, No. 80-691, p. 1377, §20; Act 2009-769, p. 2364, §2.)