Chapter 398A — Organization of Authority

398A.01 Definitions This section defines the key terms used in the Regional Railroad Authorities Act. An 'authority' is a regional railroad … 398A.02 Purpose The purpose of this law is to let one or more local governments, with state and federal help, preserve and improve local … 398A.03 Organization of Authority One or more counties can create a regional railroad authority by passing a resolution. Cities and towns can request … 398A.04 Powers A regional railroad authority has broad powers including buying and selling property, building and operating railroads, … 398A.05 Tax Exemption The property and income of a regional railroad authority are exempt from all taxes. However, if the authority's property … 398A.06 Municipal Powers Counties and other local governments within a regional railroad authority's area can support the authority in several … 398A.07 Bonds A regional railroad authority can issue bonds to fund its projects, pay operating expenses, or refund existing debt. … 398A.08 Employment Preference People who previously worked for a railroad whose property is acquired by a regional railroad authority get hiring … 398A.09 Construction This law should be read broadly to carry out its purpose. All powers granted are to be interpreted generously. If this … 398A.10 Transit Funding A county regional railroad authority may not pay more than 10% of the capital costs of a light rail or commuter rail …