§ 8-4-8-1 — Authority to operate; stocks and bonds

Indiana § 8-4-8-1

• Jurisdiction: Indiana
• Art. 4: ORGANIZATION AND OPERATION OF
• Ch. 8: Branch Railroads

Text

It shall be lawful for any railroad company in this
state, organized under the general or special laws of this state, to make
branches or extensions of its railroad to the boundary-line of any
county in which such railroad may have a terminus, such boundary-line
being also a boundary-line of the state, and such railroad company shall
have all the powers, rights and privileges in relation to such branches
of extensions as it has or may have in relation to its original road, under
the law by which it was organized, and in conformity to the law of its
organization, with power to said company to subscribe and take stock
in any railroad bridge company on the route of said road, or at the
terminus of said railroad, for the use and benefit of said road: Provided,
That any such bridge at the terminus of such road shall be so
constructed as to admit the passage of vehicles, foot passengers, and for
general purposes: And, provided also, That where the terminus of such
road is, or shall be, at or near the state-line, and the board of directors
of such railroad company shall, by resolution, declare that it is
desirable for such railroad company to acquire terminal property, or
terminal rights and facilities, to enable it to operate through or into any
city in another state and adjoining the terminus of such company, such
railroad company shall have power, by its board of directors, to take
stock in any terminal company organized under the laws of any
adjoining state for the purpose of acquiring and constructing terminal
property and terminal facilities, and to guarantee the bonds thereof. The
amount of such stock investments and of the bonds guaranteed shall be
determined by such board of directors.
Formerly: Acts 1863, c.4, s.1; Acts 1911, c.59, s.1.