N.Y. Transportation Law § 224: Statement of expenses; filing; reimbursement of state for railroad improvements

§ 224. Statement of expenses; filing; reimbursement of state for

railroad improvements. Upon the determination of the commissioner of (1)

the cost of such elimination including incidental improvements connected

therewith; (2) the cost of such elimination exclusive of such incidental

improvements; (3) the cost of the railroad improvements not an essential

part of the elimination; (4) the amount of the net benefit to the

railroad company from the elimination exclusive of such railroad

improvements; and (5) if two or more railroad companies be affected, the

proportionate share of such net benefit to be borne by each, the

commissioner shall cause to be prepared, and filed in his office, a

statement thereof, with a certified copy of such statement filed with

the comptroller and railroad company affected. The amount determined to

be the cost of railroad improvements not an essential part of such

elimination, together with such charges therefor as the comptroller may

legally impose, including interest at the rate payable by the state on

any bonds from the proceeds of which the project has been financed or,

if and to the extent otherwise financed, at such rate not exceeding

seven and one-half per centum as the comptroller may determine, shall be

repaid to the state forthwith upon demand by the comptroller. The amount

of the net benefit to a railroad company from an elimination shall be

repaid to the state by such railroad company at such times and in such

manner as may be determined by the comptroller together with interest at

the rate payable by the state on any bonds from the proceeds of which

the project has been financed or, if and to the extent otherwise

financed, at such rate not exceeding seven and one-half per centum as

the comptroller may determine, within a period of not to exceed ten

years from the date of the commissioner's determination, but in no event

shall the total amount of such repayments, exclusive of interest and

such additional charges as may be legally imposed by the comptroller,

exceed fifteen per centum of the expense of such elimination exclusive

of all incidental improvements.

Notwithstanding the preceding paragraph, the commissioner may, at any

time after the work of an elimination has been commenced, direct a

hearing for the purpose of determining the cost, or a portion thereof,

of railroad improvements not an essential part of such elimination, and

the amount so determined shall be immediately repayable to the state in

the manner above provided.

In the event of the failure or refusal of the railroad company or the

successor thereof, to pay the amount or amounts specified and at the

times prescribed, or in the event of dissolution of such railroad

company or successor, the entire indebtedness of such company in process

of dissolution shall become immediately due and payable and the amount

or amounts so due and payable may be recovered as follows:

The comptroller may certify the amount or amounts so due and payable

to the governing body of the county or counties in which the crossing is

located, whereupon, it shall be the duty of such governing body to

apportion the amount or amounts so certified to the several towns and

cities in such county according to the assessed valuation of the real

property of such railroad company or the successor thereof in such

respective towns and cities and to place the several amounts so

apportioned on the respective assessment rolls of such towns and cities

and to issue its warrant or warrants for the collection thereof.

Thereupon it shall become the duty of such towns and cities through

their appropriate officers to collect the respective several amounts so

apportioned in the same manner as other taxes are collected in such

towns and cities and when collected to pay the same to the county

treasurer of such county who shall thereupon pay the same into the state

treasury. Any amount so levied shall thereupon become and be a first and

paramount lien upon all real property of such railroad company or the

successor thereof within such respective towns and cities.

All moneys received by the comptroller from a railroad company in

payment of the amounts due the state from such company as the cost of

railroad improvements not an essential part of an elimination or the

amount of net benefit for such railroad company shall be credited to the

grade crossing elimination debt fund, established by section ninety-six

of the state finance law.

Upon the completion of work on the railroad tracks or other railroad

facilities which has been performed by the railroad company forces at

the direction of the commissioner, there shall be an accounting and the

commissioner shall certify to the comptroller the amount of the payment

which is due from the state to such railroad company. Such payment shall

be made out of the state treasury to such railroad company on vouchers,

approved by the commissioner, upon the audit and warrant of the

comptroller. From time to time, prior to the completion of such work,

intermediate accountings may be had and payments made thereon in the

same manner as the final accounting.