Indiana Code 8-3-1.5-18. Contracts for rebuilding and maintaining rail properties
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Terms Used In Indiana Code 8-3-1.5-18
- Contract: A legal written agreement that becomes binding when signed.
- 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. 18. The department may contract for the rebuilding of any rail properties acquired pursuant to this chapter, within the provisions of the Regional Rail Reorganization Act of 1973, or any other appropriate legislation. The department may also spend any sums appropriated, as well as any other available funds, for the modernization and rebuilding of any rail properties owned by the state or by a private carrier. The department may do any maintenance on any rail properties owned by the State as is necessary in the public interest.
Formerly: Acts 1975, P.L.79, SEC.1. As amended by Acts 1980, P.L.74, SEC.57.