1998 Alaska Statutes
Title 42 PUBLIC UTILITIES AND CARRIERS
Chapter 42.40. ALASKA RAILROAD CORPORATION
Sec. 42.40.285. Legislative approval required.
Unless the legislature approves the action by law, the corporation may not
(1) exchange, donate, sell, or otherwise convey its entire interest in land;
(2) issue bonds;
(3) extend railroad lines; this paragraph does not apply to a spur, industrial, team, switching, or side track;
(4) lease land for a period in excess of 35 years unless the corporation reserves the right to terminate the lease if the land is needed for railroad purposes.
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