(A) Upon abandonment of any segment of a line of railroad in this county, the owner of such segment
shall post a performance bond in such form and amount as the County Engineer shall deem necessary to insure removal of the abandoned structures pursuant to the requirements of this chapter.
(B) In the event the owner disagrees with the form or amount of the performance bond as required by the Dearborn County Engineer, the owner may file a petition with the Commissioner's Office stating the particulars of the bond with which the owner disagrees and proposing new terms.
(1) The Board of Commissioners of Dearborn County shall set the petition for a public hearing within 60 days of its receipt.
(2) At the hearing, the Board of Commissioners of Dearborn County shall determine, de novo, the reasonably expected cost of removal of the structures subject to this chapter as well as the existence of any mitigating factors, such as the value and nature of other assets of the owner within Dearborn County and which are offered as security for performance.
(3) The Board of Commissioners of Dearborn County may retain such expert, or experts, as they feel reasonable to assist them in consideration of any petition filed pursuant to this chapter, with the expense therefor payable by the owner.
(4) All evidence considered by the Board of Commissioners of Dearborn County shall be entered into the public record of the hearing and the hearing may be continued from time to time until completed.
(BC Ord. 20-1997, passed 12-5-97)