705.427 - Contract for acquisition and operation of track and other property of lines of railroad. - Nevada Statutes

705.427  Contract for acquisition and operation of track and other property of lines of railroad.  The Department of Transportation may contract for the acquisition, by lease or purchase, and operation of trackage and other rail properties of lines of railroad which:

      1.  The Surface Transportation Board has approved for abandonment or discontinuance of service; or

      2.  The Director of the Department of Transportation has determined to be potentially subject to abandonment,

Ê for the purpose of maintaining existing freight service or providing for such service in the future, but no such contract may require the expenditure of state money unless previously authorized by the Legislature.

      (Added to NRS by 1979, 563; A 1997, 1632)