Iowa Code 479B.28 – Negotiated fee
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Terms Used In Iowa Code 479B.28
- Owner: means a person, other than a lienholder, having the property right in or title to a motorboat or vessel. See Iowa Code 462A.2
- Pipeline: means an interstate pipe or pipeline and necessary appurtenances used for the transportation or transmission of hazardous liquids. See Iowa Code 479B.2
- Pipeline company: means a person engaged in or organized for the purpose of owning, operating, or controlling pipelines for the transportation or transmission of any hazardous liquid or underground storage facilities for the underground storage of any hazardous liquid. See Iowa Code 479B.2
- property: includes personal and real property. See Iowa Code 4.1
- Underground storage: means storage of hazardous liquid in a subsurface stratum or formation of the earth. See Iowa Code 479B.2
In lieu of a one-time lump sum payment for an easement or other property interest allowing a pipeline to cross property or allowing underground storage of hazardous liquids, a landowner and the pipeline company may negotiate an annual fee, to be paid over a fixed number of years. Unless the easement provides otherwise, the annual fee shall run with the land and shall be payable to the owner of record.