§ 98-A — Acquisition and lease of railroad facilities

§ 98-a. Acquisition and lease of railroad facilities. 1. Two or more\ncities, towns or villages in the same county or adjoining counties may\njointly acquire, by purchase, lease, condemnation or otherwise, railroad\nrights-of-way and other railroad facilities and property, except rolling\nstock, located in such county or counties, and may lease the same to a\nrailroad corporation, for periods not in excess of one year and expiring\nnot later than the first day of July next succeeding the effective date\nof such lease, subject to an agreement for the maintenance and operation\nof such rights-of-way, facilities and property for public use in the\ntransportation of persons or property.\n 2. The local law, ordinance or resolution providing for such action\nshall be adopted by the governing board of each such municipality and\nshall create a committee, to be at all times composed of members of each\nof such boards, to acquire such rights-of-way, facilities and property,\nin the name of the municipalities jointly, and as their joint agent, and\nmay specify matters as to which the action of the committee shall\nrequire the joint approval of such boards. The local law, ordinance or\nresolution shall also prescribe the proportions of the cost of such\nproject to be borne by the respective municipalities.\n 3. The acquisition and lease of such rights-of-way, facilities and\nproperty are hereby declared city, town and village purposes. The\nexpenses incurred in connection herewith shall be a city, town or\nvillage charge, as the case may be, and may be paid for by appropriation\nof moneys available therefor or may be financed in whole or part\npursuant to the local finance law. The period of probable usefulness of\nany indebtedness contracted pursuant to this section shall be thirty\nyears.\n 4. Such local law, ordinance or resolution may be amended from time to\ntime with the concurrence of each of such boards, and additional\nmunicipalities may be included therein, in the same manner and subject\nto the same conditions as were applicable to the original municipalities\nparticipating therein.\n 5. In the event of the abandonment of such project, all rights-of-way,\nfacilities and property acquired by the participating municipalities may\nbe sold and the proceeds distributed in the same proportion as\ncontributions were made.\n 6. No acquisition, lease or agreement entered into pursuant to this\nsection after the effective date of this subdivision shall be effective\nuntil the terms and conditions thereof shall have been approved by the\nstate commissioner of transportation.\n