Sec. 4. (a) Where a grade separation results from a railroad relocation project funded in substantial part by the federal government, the shares of the cost of the grade separation shall be allocated among all the participating governmental units and affected railroads as they may agree.

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Terms Used In Indiana Code 8-6-3-4

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • 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
     (b) A county, city, or town, in connection with any railroad relocation project funded in substantial part by the federal government, may:

(1) purchase, lease, or sell real or personal property;

(2) design and construct any pedestrian, motor vehicle, or railroad transportation facilities;

(3) enter into any contracts with federal, state, or local governmental agencies or the owner or operator of any railroad transportation system;

(4) convey by deed or lease, pursuant to written agreement, any pedestrian, motor vehicle, or railroad transportation facilities for any federal, state, or local governmental agency or the owner or operator of any railroad transportation system;

(5) issue any bonds, notes, or warrants for financing its share of the cost of the project; and

(6) perform all incidental and necessary acts in connection with the railroad relocation project.

     (c) A city or town may exercise powers granted by this section within four (4) miles outside its corporate boundaries.

As added by P.L.65-1984, SEC.1.

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