In addition to the other powers granted under this chapter and under the laws of the state, the Port Authority of the city may make contract for, accept, or otherwise acquire and maintain railroad property and rights-of-way. The Port Authority may accept and expend funding from any source, and may issue revenue bonds for the construction, operation, and maintenance of the property and rights-of-way and the lease or purchase of all necessary equipment and the appurtenances to successfully operate a railroad over the rights-of-way. The powers granted under this section and under the corresponding statutes of the state and the procedures provided for therein shall extend to the Port Authority created under this chapter even though the railroad facilities will not serve a port or harbor.
(Prior Code, § 44.12) (Ord. 0-99-0027, passed 12-20-1999)