(1) Every such corporation, in addition to the powers conferred in articles 101 to 117 of title 7, C.R.S., has the power:
(a) To lay out its road, not exceeding two hundred feet in width, and to construct the same; and for the purpose of cuttings and embankments to take as much more land as may be necessary for the proper construction and security of the railway; and to cut down any standing trees that may be in danger of falling or obstructing the railway, making proper compensation therefor;
(b) To cross, intersect, or connect its railway with any other railway;
(c) To connect at the state line with railroads of other states and territories;
(d) To receive and convey persons and property on its railway;
(e) To erect and maintain all buildings and stations, fixtures, and machinery necessary and convenient for the accommodation, and use of passengers, freights, and business interests or which may be necessary for the construction or operation of said railway;
(f) To regulate the time and manner in which passengers and property shall be transported and the compensation to be paid therefor;
(g) From time to time, to borrow such sums of money as may be necessary for completing, finishing, improving, or operating any such railway, and to issue and dispose of its bonds for any amount so borrowed, and to mortgage its corporate property and franchise to secure the payment of any debt contracted by such corporation for such purposes, in such manner as the shareholders representing a majority of the stock of any such corporation may direct;
(h) Notwithstanding any provision of law to the contrary, to invest in any of the following if such investment is consistent with sound investment policy:
(I) Any public-private initiative with the department of transportation, as defined in section 43-1-1201 (3), C.R.S.;
(II) Bonds issued for turnpikes in accordance with part 2 of article 3 of title 43, C.R.S.;
(III) Repealed.
(IV) Any other public-private initiative program for transportation system projects in Colorado authorized by law.
Source: G.L. � 301. G.S. � 336. R.S. 08: � 5411. C.L. � 2816. CSA: C. 139, � 2. CRS 53: � 116-1-2. C.R.S. 1963: � 116-1-2. L. 93: IP(1) amended, p. 866, � 45, effective July 1, 1994. L. 98: (1)(h) added, p. 447, � 9, effective August 5. L. 2005: (1)(h)(III) repealed, p. 290, � 42, effective August 8.
Cross references: For the legislative declaration contained in the 1998 act enacting subsection (1)(h), see section 1 of chapter 154, Session Laws of Colorado 1998.
40-20-103. Right-of-way for changed line - sale of right-of-way for public passenger rail service - definitions. (1) Any railroad company having located its line of road, whether the same is completed or not, may make a new location of its line and may acquire the right-of-way for such new line in the same manner as is now provided for acquiring the right-of-way by the statutes of Colorado; but in acquiring said new right-of-way, the previous right-of-way shall revert to the owner of the land through which said previous right-of-way was granted upon the payment or tendering payment to the railroad company of the amount assessed by the board of appraisers and paid by said railroad company for said previous right-of-way.
(2) (a) Any railroad company may sell its right-of-way for the operation of a public passenger rail service. In such case, the right-of-way shall continue to be used as a public highway only for operation of public passenger rail service for purposes of section 4 of article XV of the state constitution if ownership of the right-of-way is transferred to a public passenger rail service provider, regardless of:
(I) Whether or not an order of abandonment has been issued for the right-of-way by the federal surface transportation board, any successor federal agency, or any court of competent jurisdiction;
(II) The technology used to operate the public passenger rail service; or
(III) Whether ownership of the railroad is public or private.
(b) No rail service provider operating public passenger rail service as authorized by paragraph (a) of this subsection (2) shall be required to offer its right-of-way for use by any other rail service provider by operation of Colorado law after an order of abandonment has been issued.
(3) Nothing in this section shall be construed to affect any vested right of any party.
(4) For purposes of this section, public passenger rail service means any passenger service that runs on rails or electromagnetic guideways, including but not limited to:
(a) Commuter or other short-haul railroad passenger service in a metropolitan or suburban area;
(b) High-speed ground transportation systems that connect metropolitan areas; or
(c) Rapid transit operations in an urban area that are not connected to the general railroad system of transportation.
Source: L. 1874: p. 224, � 1. G.L. � 2234. G.S. � 2795. R.S. 08: � 5519. C.L. � 2902. CSA: C. 139, � 88. CRS 53: � 116-1-3. C.R.S. 1963: � 116-1-3. L. 2010: Entire section amended, (HB 10-1276), ch. 201, p. 875, � 1, effective August 11.
Cross references: For procedure in eminent domain, see articles 1 to 7 of title 38.