A. A municipality may, within its boundary:

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(1)     regulate the speed of diesel electric locomotives; (2)     license and regulate the laying of railroad tracks;

(3)     provide for and change the location, grade and crossing of any railroad;

(4)     regulate and prohibit the use of steam engines and diesel electric locomotives; and

(5)     require a railroad company to:

(a) fence its railroad or any portion of it;

(b) construct cattleguards at crossings of streets and public roads; (c) keep its fences and cattleguards in repair;

(d) keep a flagman at railroad crossings of streets;

(e) provide protection against injury to persons and property by the railroad in the use of its property; and

(f) construct and keep in repair ditches, drains, sewers and culverts along and under railroad tracks so that 1) filthy or stagnant pools of water cannot stand on its ground or right-of-way and 2) natural drainage of adjacent property is not impeded.

B. A municipality may, within its boundary, by condemnation or otherwise, extend any street, or municipal utility over, across, under or through any railroad track, right-of- way or land of any railroad company or street railroad company. If no compensation is made to the railroad company, the municipality shall restore the railroad track, right-of- way or land to its former state or in a sufficient manner so that its usefulness is not impaired.