§ 8-4-14-7 — Powers and duties

Any railroad company incorporated under the
provisions of this chapter, shall have the power and authority to
acquire, by purchase or contract, the road, road bed, real and personal
property, rights, and franchises, of any other railroad corporation or
corporations which may cross or intersect the line of such railroad
company, or any part of same, or the use and enjoyment thereof, in
whole or in part, and may also purchase or contract for the use and
enjoyment, in whole or in part, of any railroad or railroads, lying within
adjoining states, may assume such of the debts and liabilities of such
corporations as may be deemed proper; and upon purchasing any such
railroad or railroads, all the real and personal property of such
corporations, so purchased, and also the rights, powers, and franchises
of the same, shall become vested in the railroad company so purchasing
the same, together with all the rights, powers, privileges, and franchises
conferred by the charter of the roads so purchased and all amendments
thereto and the provisions of this chapter, and the company so
purchasing or acquiring the title to, or use of such railroad or railroads
shall have power to complete, maintain, and operate the same. Any
railroad company incorporated under the provisions of this chapter
shall also have power to consolidate with other railroad corporations in
the continuous line, either within or without this state, upon such terms
as may be agreed upon by the corporations owning the same; and also
shall have the power and authority to construct, equip, maintain, and
operate branch railroads leading from the main line or from the termini
of such railroad, from and to such points, with this state or any
adjoining state, as may be deemed expedient, and in constructing the
same shall have the right to enter in, and upon all lands, to survey
routes, receive donations of lands or moneys, purchase, and condemn
lands required for the use of the road, lay single or double tracks, to
cross all watercourses and public highways, not unnecessarily
obstructing the same, and in condemning lands for the use of such
roads shall have all of the rights and powers conferred upon such
corporations by their charters, and amendments and the general laws
of this state, and all railroads purchased, and branch roads constructed
as aforesaid, shall be vested in and become a part of the property of the
corporation so purchasing or constructing the same, as aforesaid, and
shall be in all things governed by the laws, rules, and regulations
governing the corporation, purchasing or constructing the same as
aforesaid, and be operated as part of its line of road upon purchasing
or constructing any railroad as provided in this chapter, the corporation
purchasing or constructing the same, shall have power and authority to
issue new stock to such extent as may be considered advisable, and the
same to dispose of, as provided in this chapter, and to issue and sell
bonds to such extent as may be deemed expedient, and to secure the
same by mortgages and deeds of trust upon all the real and personal
property, rights, powers, and franchises of any railroad so purchased,
constructed, or in course of construction as provided in this chapter;
provided, that the provisions of this chapter shall not be so construed
as to authorize any railroad company organizing under the same to
consolidate with or acquire by contract or purchase the road, road bed,
real and personal property, rights, and franchises of any railroad
already built, equipped, and operated within the state of Indiana and
which may cross or intersect the line of the road of any company
organized under this chapter, but the powers of consolidation and
purchase are hereby limited and restricted to such roads within the state
of Indiana as may cross and intersect the same and which have not been
equipped and operated in whole or in part.
Formerly: Acts 1945, c.202, s.7. As amended by P.L.62-1984,
SEC.69.