Oregon Statutes - Chapter 824 - Railroads - Section 824.016 - State Rail Rehabilitation Fund; use.

(1) The State Rail Rehabilitation Fund is established as an account in the General Fund of the State Treasury. All moneys in the account are appropriated continuously to the Department of Transportation for expenditures for any or all of the following:

(a) Acquisition of a railroad line.

(b) Rehabilitation or improvement of rail properties.

(c) Planning for rail services.

(d) Any other methods of reducing the costs of lost rail service in this state.

(2) The program developed by the Department of Transportation under this section to provide funds for rail projects shall include:

(a) Development of a formula for determining a minimum cost to benefit ratio necessary for project funding;

(b) Supervision and monitoring of railroad acquisitions and the awarding of rehabilitation contracts;

(c) Continuing inspection of all railroad rehabilitation projects; and

(d) Auditing financial records of all railroad acquisition and rehabilitation projects.

(3) The Department of Transportation shall provide funds for railroad projects under this section only with the approval of the Oregon Transportation Commission. [Formerly 760.620; 2005 c.612 §7]

Section:  Previous  824.010  824.012  824.014  824.016  824.018  824.019  824.020  824.022  824.024  824.026  824.028  824.030  824.040  824.042  824.045  Next

Last modified: August 7, 2008