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The Vermont Statutes Online
Title
05
:
Aeronautics and Surface Transportation Generally
Chapter
058
:
STATE ACQUISITION OF RAILROADS
§
3405. Lease for continued operation
(a) The
secretary, as agent for the state, with the approval of the governor and the
general assembly or, if the general assembly is not in session, approval of a
special committee consisting of the joint fiscal committee and the chairs of
the house and senate committees on transportation, is authorized to lease or
otherwise arrange for the continued operation of all or any state-owned
railroad property to any responsible person, provided that approval for the operation,
if necessary, is granted by the federal Surface Transportation Board. The
transaction shall be subject to any further terms and conditions as in the
opinion of the secretary are necessary and appropriate to accomplish the
purpose of this chapter.
(b) To preserve
continuity of service on state-owned railroads, the secretary may enter into a
short-term lease or operating agreement, for a term not to exceed six months,
with a responsible railroad operator. Within 10 days of entering into any lease
or agreement, the secretary shall report the details of the transaction to the
members of the house and senate committees on transportation. (Added 1987, No.
211 (Adj. Sess.), § 1, eff. May 26, 1988; amended 1999, No. 156 (Adj. Sess.), §
7, eff. May 29, 2000; 2003, No. 56, § 18, eff. June 4, 2003.)