17-229 C.M.R. ch. 500, § 03 - Contract Negotiations

Current through 2022-14, April 6, 2022

As soon as practicable after notification by the Interstate Commerce Commission that the State's offer of financial assistance is financially responsible and likely to cover the difference between the revenue attributable to the line and the avoidable cost of providing the service plus a reasonable return on the value of the property, the Department of Transportation will enter into negotiations with the rail carrier involved. Such negotiations shall among other things develop a final estimate of the subsidy costs and the level of service to be provided over the line will be agreed upon.

In addition, the Department of Transportation will enter in negotiations and develop an agreement with rail users and/or communities who are to provide matching fund subsidies necessary for continued operation. Such an agreement shall provide for a general level of service and an estimated cost of matching funds requirements which are to be made available to the State in accordance with the payment schedules which will be provided for in the agreement between the State and the rail carrier involved.

When such agreements have been reached in fact or in principle, an application will be prepared by the State and filed with the Federal Railroad Administration to provide the necessary federal funds.


17-229 C.M.R. ch. 500, § 03

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