Sec. 6. The department may sell, transfer, or lease all, or any part of the rail properties acquired under the provisions of this chapter to any responsible person, firm, or corporation for continued operation of a railroad, or other public purpose, provided that approval for the continued operation, or other public purposes, is granted by the Interstate Commerce Commission of the United States, whenever approval is required. The sale, transfer, or lease shall be for a price, and subject to any further terms and conditions which the department feels are necessary and appropriate to effectuate the purposes of this chapter.
Formerly: Acts 1975, P.L.79, SEC.1. As amended by Acts 1980, P.L.74, SEC.45.
Structure Indiana Code
Title 8. Utilities and Transportation
Article 3. Railroads Generally
Chapter 1.5. State Rail Preservation Law
8-3-1.5-2. Authority of Indiana Department of Transportation
8-3-1.5-3. Financial Assistance for Continuance of Rail Service
8-3-1.5-4. Information to Be Provided to Department
8-3-1.5-5. Acquisition of Rail or Nonrail Property
8-3-1.5-6. Disposition of Property
8-3-1.5-7. Interstate Commerce Commission Certificate
8-3-1.5-9. Condemnation Procedure
8-3-1.5-10. Assuring Good Title
8-3-1.5-11. Sale of Rail Properties
8-3-1.5-12. Cooperation With Other States
8-3-1.5-13. Acquisition of Property by Political Subdivisions
8-3-1.5-15. Acquisition or Modernization Loans
8-3-1.5-16. Delinquent State Railroad Taxes; Offset Against Purchase Cost
8-3-1.5-17. Railroad Equipment; Acquisition
8-3-1.5-18. Contracts for Rebuilding and Maintaining Rail Properties
8-3-1.5-19. Contracts to Maintain or Improve Rail Transportation Service
8-3-1.5-20.5. Commuter Rail Service Fund
8-3-1.5-20.6. Electric Rail Service Fund
8-3-1.5-21. Chicago, South Shore, and South Bend Railway Capital Improvements Fund