Indiana Code 8-3-1.5-17. Railroad equipment; acquisition
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Indiana Code 8-3-1.5-17
- Department: refers to the Indiana department of transportation established under IC 8-23-2-1. See Indiana Code 8-3-1.5-1
- Rail properties: means assets or rights, owned, leased, or otherwise controlled by a railroad or other persons which are used, or useful, in rail transportation service; however, the term rail properties does not include any properties owned, leased or otherwise controlled by a railroad not in reorganization unless it consents to such property's inclusion in the particular transaction. See Indiana Code 8-3-1.5-1
Sec. 17. The department is authorized to purchase any railroad rolling stock, equipment, and machinery necessary for the operation and maintenance of any rail properties purchased by it on behalf of the State with any funds made available for this purpose. The department may also acquire, and have available, a pool of equipment and machinery which may be utilized by the operators of the rail properties for the purpose of track maintenance, and other related railroad activities, upon terms and conditions determined by the department.
Formerly: Acts 1975, P.L.79, SEC.1. As amended by Acts 1980, P.L.74, SEC.56.