N.Y. Railroad Law Section 173-F
Every terminable permit, and every amendment to any existing license, grant, franchise, permit or consent incorporating therein the terms...

§ 173-f. Every terminable permit, and every amendment to any existing license, grant, franchise, permit or consent incorporating therein the terms of a terminable permit, shall contain an irrevocable option for the purchase by the city, town or village, either directly or through its nominee or nominees, of all or any part of the property, plant and equipment of the street surface railroad at any time, at a price agreed upon or to be ascertained and determined in a manner agreed upon at the time of the granting of the permit or amendment and to be set forth therein. Any such permit or amendment may contain provisions for amortizing out of earnings or in accordance with an amortization schedule or schedules to be set forth therein, over a period not exceeding fifty years, the price to be paid for all or such part of the property, plant and equipment of the street surface railroad and for any additions thereto or betterments or improvements thereof, so that upon the exercise of the option the city, town or village, or its nominee or nominees, shall be required to pay only the unamortized portion of such price, and may contain any other terms, agreements, stipulations and conditions as may be authorized by any statute of the state, or as the city, town or village may deem proper and in the public interest, and may provide for the termination thereof for any legal cause.

Source: Section 173-F — Every terminable permit, and every amendment to any existing license, grant, franchise, permit or consent incorporating therein the terms..., https://www.­nysenate.­gov/legislation/laws/RRD/173-F (updated Sep. 22, 2014; accessed Dec. 21, 2024).

170
Street surface railroads 171
Consent of property owners and local authorities 172
Consent of local authorities 173
Condition upon which consent shall be given 173‑A
The term “terminable permit” as used in this article shall mean and embrace every grant from a city, town or village of power, right or p... 173‑B
Every city, town and village of this state, in addition to such powers as it may have relating to the granting of rights, privileges, fra... 173‑C
Every city, town and village of this state shall have power, subject to the provisions of sections one hundred and seventy-three-a to one... 173‑D
Whenever any street surface railroad is or may be operated along or upon any of the streets, roads, highways, avenues, parks or public pl... 173‑E
The acceptance of a terminable permit, or the acceptance of an amendment to any existing license, grant, franchise, permit or consent inc... 173‑F
Every terminable permit, and every amendment to any existing license, grant, franchise, permit or consent incorporating therein the terms... 173‑G
Approval of permit or amendment by commissioner of transportation 173‑H
Existing license, grant, franchise, permit or consent reinstated on invalidity of amendment 174
Proceedings if property owners do not consent 175
Percentage of gross receipts to be paid in cities or villages 176
Extension of route over rivers 177
Use of tracks of other roads 178
Repair of streets 178‑A
Headlights 179
Within what time road to be built 180
Motive power 181
Rate of fare 182
Collection of fare 183
Construction of road in street where other road is built 184
Abandonment of part of route 185
Effect of dissolution of charter as to consents 186
Corporate rights saved in case of failure to complete road 187
Extensions and franchises confirmed 188
Certain consents of local authorities confirmed 189
Time extended for payment of percentage based on gross receipts 191
Road not to be constructed upon ground occupied by public buildings or in public parks 192
Center-bearing rails prohibited 192‑A
Relocation of tracks 193
Right to cross bridge substituted for a bridge crossed for five years 194
Protection of employees 195
Platforms on new cars, how constructed 196
Protection to employees in the counties of Albany and Rensselaer 197
Protection of employees in the counties of Kings and Queens 198
Contracts for the adjustment of payments due certain cities 201
Construction of park railroads in cities having a population of one million five hundred thousand or upwards 202
Consents of property owners 203
Expense of construction and operation 204
Agreements for payment of cost of construction by instalments 205
Disposition of income 206
Motive power 207
Railroads in parks in New York city, by whom constructed 209
Change of motive power authorized 210
New streets across other than steam surface railroads
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Accessed:
Dec. 21, 2024

Last modified:
Sep. 22, 2014

§ 173-F’s source at nysenate​.gov

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