§3406. Sale or lease of state-owned railroad property for other purposes

Link to law: http://legislature.vermont.gov/statutes/section/05/058/03406
Published: 2015

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The Vermont Statutes Online



Title

05

:
Aeronautics and Surface Transportation Generally






Chapter

058

:
STATE ACQUISITION OF RAILROADS











 

§

3406. Sale or lease of state-owned railroad property for other purposes

(a) In

connection with state-owned railroad property, the secretary shall have

authority to enter into licenses, leases, easements, and sales of personal

property, including tracks, structures and buildings which are to be removed by

the purchaser.

(b) The

secretary shall have authority, with the approval of the governor, to sell

state-owned railroad property subject to the following conditions:

(1) the property

is located more than 33 feet from the centerline of main line track (or former

main line track), and the secretary determines that the property no longer is

needed for railroad operating purposes or for railbanking under section 3408 of

this title; and

(2)(A) if the

appraised value of the property is $100,000.00 or above, with the prior

approval of the general assembly of the sale and its terms, or, in the event

that the general assembly is not in session, with the prior approval of the

joint transportation oversight committee; or

(B) if the

appraised value of the property is below $100,000.00, without further approval.

(Added 1987, No. 211 (Adj. Sess.), § 1, eff. May 26, 1988; amended 1989, No.

246 (Adj. Sess.), § 2; 2009, No. 123 (Adj. Sess.), § 36.)
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