HB1519_S_Cmte_Amend

SECTION 1. For the purposes of this act, the following terms shall have the meanings ascribed by this section unless the context clearly indicates otherwise:

(a) "Governing body" means the Mayor and Board of Aldermen or Council, as applicable, of a town.

(b) "Short-line railroad project" means any combination of the acquisition, restoration, construction, ownership, operation, oversight, maintenance and disposition of a short-line railroad by a town.

(c) "Short-line railroad" means a rail line that is no more than fifty (50) total route miles in length, located within and without the State of Mississippi, together with the line's corresponding right-of-way, fixtures, facilities, and related improvements, and that, as an independent operating concern, would qualify under the standards of the U.S. Surface Transportation Board as a Class III rail carrier under 49 CFR 1201(1-1).

(d) "Town" means a municipal corporation existing within the State of Mississippi classified as a town pursuant to Section 21-1-1, Mississippi Code of 1972, as of the effective date of this act, with a short-line railroad partially located within its municipal boundaries.

SECTION 2. (1) A town, acting through its governing body, is authorized to:

(a) Undertake a short-line railroad project, and, in conjunction therewith to acquire a short-line railroad, whether such short-line railroad relates to real property within or without the corporate limits of the town or the boundaries of the State of Mississippi, on such terms and conditions and for such considerations deemed by the governing body, in its sole determination, to be in the best interest of the public and in accordance with the premises and provisions of this act, and any such acquisition shall be evidenced by a resolution duly adopted and entered on the official minutes of the governing body;

(b) Implement and oversee all aspects of such short-line railroad project, including, without limitation, entering into and executing agreements with planning and development districts and private third parties for project management and consulting services associated with any and all aspects of the short-line railroad project, entering into and executing such agreements with third-party contractors for the restoration and construction of the short-line railroad and any improvements thereto, and entering into and executing such agreements with third party contractors for the maintenance of the short-line railroad, in each case as the governing body deems necessary or advisable to carry-out the short-line railroad project, whether such restoration, construction, and maintenance shall occur within or without the corporate limits of the town or the boundaries of the State of Mississippi;

(c) Enter into and execute such agreements with third-party operators for the operation of the short-line railroad that is the subject of the short-line railroad project, on such terms and conditions the governing body deems necessary, in the best interest of the public or advisable to carry-out the short-line railroad project, whether such operation shall occur within or without the corporate limits of the town or the boundaries of the State of Mississippi;

(d) Engage additional third parties and enter into such agreements reasonably necessary or required for the short-line railroad project, and to acquire, purchase, install, lease, finance, construct, own, hold, equip, control, maintain, use, operate and repair structures and equipment necessary and convenient for the planning, development, use, operation and maintenance of the short-line railroad that is the subject of the short-line railroad project, including, but not limited to, utility installations;

(e) Sell, lease, trade, exchange, encumber or otherwise dispose of the short-line railroad that is the subject of the short-line railroad project and structures and equipment related thereto to individuals, firms or corporations, public or private, for all types of utility, industrial, commercial, agricultural or other economic development uses upon such terms and conditions, for such consideration, and with such safeguards as will best promote and protect the public interest, convenience and necessity, and to execute options, rights of first refusal, deeds, leases, contracts, access or use agreements, easements and other legal instruments necessary or convenient therefor;

(f) Employ engineers, attorneys, accountants, consultants and such executive and administrative personnel and other employees or independent contractors as shall be reasonably necessary to carry-out the short-line railroad project and the duties and authority authorized by this act, to determine their qualifications and duties, and to establish compensation and other employment benefits as may be advisable to attract and retain proficient personnel.

(g) Buy, lease, sell, convey and do all other necessary business transactions for carrying-out the short-line railroad project and to do all acts necessary and convenient to operate and carry-out the duties of such town pursuant to such short-line railroad project;

(h) Take all actions and expend any such state, federal, or other funds of the town as necessary to carry-out any action or agreement authorized pursuant to this act for the short-line railroad project;

(i) Accept from any public or private agency, or from any individual, grants for or in aid of the short-line railroad project, and to receive and accept contributions from any source of money or property or other things of value to be held, used and applied only for the purposes for which such grants or contributions may be made;

(j) Apply for and accept grants and loans from the State of Mississippi, any other state, or the United States of America or any agency thereof; and, to contract with any agency of the State of Mississippi, or any state adjacent thereto, and the United States of America in furtherance of a short-line railroad project;

(k) Adopt any and all lawful resolutions, orders and/or ordinances; to execute such documents, contracts, leases, certificates and indentures; and to do and perform any and all acts and things necessary and requisite to carry-out the purposes of this act; and

(l) To the extent a short-line railroad project is funded in whole or in part by grants or loans from the State of Mississippi, another state and the United States of America or any agency thereof, the governing body is authorized to bind successor boards with respect to all aspects of such short-line railroad project for a term not to exceed twenty (20) years.

(2) Any short-line railroad project undertaken by a town pursuant to this act is in all respects for the benefit of the people of such town and the State of Mississippi and is a public purpose, and such town will be performing an essential governmental function in the exercise of the powers conferred upon it by this act, and any property owned or held by such town or under its jurisdiction under the provisions of this act shall be exempt from all taxation in the State of Mississippi.

(3) The enumeration of any specific rights and powers

contained in this act, where followed by general powers, shall not be construed in a restrictive sense, but rather in as broad and comprehensive a sense as possible to effectuate the purposes of this act. Nothing in this act should be construed to limit, restrict, or otherwise alter the duties, responsibilities, and authority of the governing body as provided under the Mississippi Constitution of 1890 and the laws of the State of Mississippi.

(4) This act shall be deemed to be full and complete authority for the exercise of the powers herein granted, but this act shall not be deemed to repeal or to be in derogation of any existing law of this state whereunder projects of the character herein defined may be constructed or financed.

SECTION 3. This act shall take effect and be in force from and after its passage.