(A) Upon the occurrence and during the continuation of material default by an operator, not related to an event of force majeure, the department of transportation may do the following:
(1) Elect to take over the transportation facility, including the succession of all right, title, and interest in the transportation facility, subject to any liens on revenues previously granted by the private entity;
(2) Terminate the public-private agreement and exercise any other available rights and remedies.
(B) In the event that the department elects to take over a transportation facility, the department shall collect and pay any revenues that are subject to lien to satisfy any obligation and may do the following:
(1) Develop and operate the transportation facility, impose user fees for the use of the transportation facility, and comply with any service contracts;
Added by 129th General AssemblyFile No.7,HB 114, §101.01, eff. 6/29/2011.