(a) (1) If a local governmental entity approves an application submitted pursuant to § 65-13-601, then the local governmental entity shall enter into a lease or other agreement with the operator authorizing construction, operation, and maintenance of the transit project beneath the property of the local governmental entity.(2) If the local governmental entity and operator cannot agree on the term of the lease or other agreement, then the operator shall provide notice to the authority for an expedited hearing to establish the term. After providing notice for the hearing of no less than five (5) business days to both parties, the authority, after considering the interests of both parties at the hearing, shall establish the term of the lease or other agreement.
(1) If a local governmental entity approves an application submitted pursuant to § 65-13-601, then the local governmental entity shall enter into a lease or other agreement with the operator authorizing construction, operation, and maintenance of the transit project beneath the property of the local governmental entity.
(2) If the local governmental entity and operator cannot agree on the term of the lease or other agreement, then the operator shall provide notice to the authority for an expedited hearing to establish the term. After providing notice for the hearing of no less than five (5) business days to both parties, the authority, after considering the interests of both parties at the hearing, shall establish the term of the lease or other agreement.
(b) A lease or other agreement executed pursuant to this section must not contain encumbrances, burdens, restrictions, conditions, or requirements that are more stringent than those contained in a substantially similar lease or agreement executed by the department of transportation for the construction or operation of a transit project on state-owned property or rights-of-way.
(c) If necessary in furtherance of the powers or duties of the authority under this chapter, the board may require that the board approve the lease or agreement or that the authority be made a party to the lease or agreement.
(d) A provision of a lease or other agreement that violates this section is void and unenforceable.