Chapter
059
2008 -- H 8450
Enacted 06/23/08
A N A C T
RELATING TO THE RHODE
ISLAND PUBLIC RAIL CORPORATION
Introduced By: Representatives Costantino, and Lewiss
Date Introduced: June 21, 2008
It is enacted
by the General Assembly as follows:
SECTION
1. Section 42-64.2-4 of the General Laws in Chapter 42-64.2 entitled
"Rhode
Island
Public Rail Corporation Act" is hereby amended to read as follows:
42-64.2-4.
General powers. -- Except to the extent inconsistent with any specific
provision
of this chapter, the Rhode Island public rail corporation shall have power:
(1) To sue and be sued, complain and defend, in its corporate name;
(2) To have a seal, which may be altered at pleasure and to use the seal by
causing it, or
a
facsimile thereof, to be impressed or affixed or in any other manner
reproduced;
(3) To purchase, take, receive, lease, or otherwise acquire, own, hold,
improve, use, and
otherwise
deal in and with, real or personal property, or any interest therein, wherever
situated;
(4) To re-convey, lease, or sell real property acquired. Upon the sale of any
real property
or
interest therein which is held by the corporation, the proceeds from the sale
shall be transferred
to the
general fund of the state.
(5) To make contracts and guarantees and incur liabilities, borrow money at any
rates of
interest
that the corporation may determine;
(6) To make and execute agreements of lease, conditional sales contracts,
installment
sales
contracts, loan agreements, mortgages, construction contracts, operation
contracts, and other
contracts
and instruments necessary or convenient in the exercise of the powers and
functions of
the
corporation granted by this chapter;
(7) To lend money for its purposes, invest and reinvest its funds, and at its
option to take
and hold
real and personal property as security for the payment of funds so loaned or
invested;
(8) To acquire, or contract to acquire, from any person, firm, corporation,
municipality,
the
federal government or the state, or any agency of either the federal government
or state, by
grant,
purchase, lease, gift, condemnation or otherwise, or to obtain options for the
acquisition of
any
property, real or personal, improved or unimproved, and interests in land less
than the fee
thereof;
and to own, hold, improve, develop, and rehabilitate, and to sell, assign,
exchange,
transfer,
convey, lease, mortgage, or otherwise dispose or encumber the property for the
purposes
of
carrying out the provisions and intent of this chapter, for any consideration
the corporation
shall
determine;
(9) To conduct its activities, carry on its operations, and have offices, and
exercise the
powers
granted by this chapter, within or without the state;
(10) To elect or appoint officers and agents of the corporation, and define
their duties
and fix
their compensation;
(11) To make and alter by-laws, not inconsistent with this chapter, for the
administration
and
regulation of the affairs of the corporation; those by-laws may contain
provisions
indemnifying
any person who is or was a director, officer, employee, or agent of the
corporation,
or is or
was serving at the request of the corporation as a director, officer, employee,
or agent of
another
corporation, partnership, joint venture, trust, or other enterprise, in the
manner and to the
extent
provided in section 7-1.2-814;
(12) To be a promoter, partner, member, associate, or manager of any
partnership,
enterprise,
or venture; and
(13) To have and exercise all powers necessary or convenient to effect its
purposes.
(14)
To defend, indemnify and save harmless the National Railroad Passenger Corporation
("Amtrak")
and third parties for all damage or liability for personal injury or property
damages
which
would not have occurred or would not have been incurred but for the existence
of
commuter
rail service south of Providence or the presence on Amtrak's properties of any
trains,
passengers,
employees, contractors, or invitees of the state or its designated operator.
(15)
To defend, indemnify and save harmless its designated operator for all damage
or
liability
for personal injury or property damages which would not have occurred or would
have
not
been incurred but for the designated operator's activities except for damages
or liability
attributable
directly to the designated operator's own negligence or misconduct, all
pursuant to
terms
and conditions to be set forth in an agreement to be entered into by and
between the
corporation
and the designated operator prior to implementation of the commuter rail
service
south
of Providence.
SECTION
2. This act shall take effect upon passage.
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LC03273
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