Maine Revised Statutes Title 23 Sec. 7155 – Conditions of sale, lease and operation
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1. Financial conditions on sale, lease or operating contract. Any railroad line acquired pursuant to this chapter may be sold, leased or contracted to an operator, but only upon terms at least as favorable to the State as follows:
A. All of the costs of acquiring the railroad line and associated property shall be recovered by the State; and [PL 1989, c. 398, §7 (RPR).]
B. The credit of the State shall not be pledged unless separately authorized as required by the Constitution of Maine, Article IX, Section 14. [PL 1989, c. 398, §7 (RPR).]
[PL 1989, c. 398, §7 (RPR).]
Terms Used In Maine Revised Statutes Title 23 Sec. 7155
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Railroad: includes every commercial, interurban and other railway and each and every branch and extension thereof by whatsoever power operated, together with all tracks, bridges, trestles, rights-of-way, subways, tunnels, stations, depots, union depots, ferries, yards, grounds, terminals, terminal facilities, structures and equipment and all other real estate, fixtures and personal property of every kind used in connection therewith, owned, controlled, operated or managed for public use in the transportation of persons or property. See Maine Revised Statutes Title 23 Sec. 5001
- Railroad line: means the right-of-way, track, track appurtenances, ties, bridges, station houses, sidings, terminals and other appurtenant structures of a railroad. See Maine Revised Statutes Title 23 Sec. 7152
2. State operation of railroad prohibited. In no event may the department or any other unit of State Government directly operate a railroad over a railroad line acquired under this chapter. The department may own the railroad line and lease or otherwise contract for its use by a private operator.
[PL 1989, c. 398, §7 (RPR).]
SECTION HISTORY
PL 1987, c. 748 (NEW). PL 1989, c. 398, §7 (RPR).