§ 54-6-119 — Termination dates of original permanent financing and comprehensive agreement

The responsible public entity shall determine the date of termination of the original permanent financing and the comprehensive agreement. The responsible public entity may change or extend the termination dates to take into account any refinancing of the original permanent financing, including any refinancing for the purpose of expansion, or any early termination of the original permanent financing to the extent that such modification serves the public purpose of this chapter. Upon the termination of the comprehensive agreement, the authority and duties of the eligible private entity under this chapter shall cease, and the qualifying transportation facility shall be dedicated to the responsible public entity or, if the qualifying transportation facility was initially dedicated by an affected jurisdiction, to such affected jurisdiction for public use. Upon termination of the financing or comprehensive agreement, the responsible public entity may select another private entity pursuant to this chapter to provide the financing or complete the development, redevelopment, or operation of the qualifying transportation facility.

Legislative History

Added by 2016 Tenn. Acts, ch. 975,s 1, eff. 10/1/2016.