40:61-11 - Relocation of streets or railways; cost; exchange of lands - New Jersey Statutes

40:61-11.  Relocation of streets or railways;  cost;  exchange of lands
    Wherever any highway, railroad or street railway runs through or across any  public park, or public place for resort or recreation of any municipality, or  any lands of any municipality acquired therefor, the body having control of  such parks or lands may make an agreement with the body having control of any  such highway, and with the company owning the railroad, or street railway, to  change the course or location of such highway, railroad or railway, and to  agree as to payment of the cost of such change.

    Upon execution of such agreement, the municipality may grant and convey to such body having control of the highway or to the company owning the railroad or railway, a right of way over the lands of such changed location, and the body in control of the highway, or the company owning the railroad or railway shall in like manner grant and convey to the municipality all its interest in the lands of the former location of said highway, railroad or street railway.

    Upon execution and delivery of such conveyances, the body in control of the  highway, or the company owning the railroad or railway, may locate, lay out,  construct, operate and maintain its highway, railroad, or street railway upon  the lands of the changed location, and connect and operate with the remaining  portion of its highway, railroad or street railway in accordance with the  agreement and shall possess all the powers with respect to the changed location  as it had in the former location, and the same shall be subject to all the  obligations and limitations imposed thereon in the former location.

    All the rights, privileges and powers of the body in control of the highway,  or of the company owning the railroad or street railway, in the lands of the  former location shall be transferred to and vested in the municipality.