2005 Arizona Revised Statutes - Revised Statutes §28-7703  Default

A. If there is a material and continuing default in the performance of the private entity's construction duties or contractual obligations or if construction has not begun within two years of the date of the agreement authorized by this article or after final clearance of all necessary government approvals and authorizations, whichever is later, the board, after a hearing in which the private entity has notice and an opportunity to participate, may take the following actions that the department may participate in or initiate:

1. Revoke the agreement.

2. Declare a default in the construction or lease of the transportation facility.

3. Make or cause to be made the appropriate claims under any completion or performance bond.

4. Take other action determined appropriate by the board under the circumstances.

B. If the agreement is revoked pursuant to subsection A:

1. The private entity does not have authority to construct or operate the transportation facility.

2. The department may construct and operate the transportation facility.

3. The department may take steps that are in the public interest, including completion of the construction of or additions to the transportation facility, closing the transportation facility or an intermediate step.

4. The private entity shall grant to the department all of its rights, title and interest in the transportation facility.