Missouri Revised Statutes













Chapter 388

Railroad Corporations

←388.460

Section 388.470.1

388.480→

August 28, 2015

Powers of such corporation or railroad company.

388.470. Every corporation formed under section 388.460, and every

railroad company which may build and operate a union station or depot under

said section, shall, in addition to the general powers conferred by the laws

of this state, in relation to corporations, have power



(1) To take and hold for the purposes mentioned in section 388.460 such

real estate and railroad and other property as it may acquire by conveyance

to said corporation, and such real estate as it may acquire under the

provisions of said previous section, by condemnation;



(2) To take, occupy and condemn any lands and real estate needed for the

establishment of such union station or depot, or the terminal facilities in

connection therewith, and the same proceedings shall be had therefor as

provided by law relating to the appropriation and valuation of land taken for

telegraph, macadamized, graded, plank or railroad purposes, so far as

applicable thereto, and, when so condemned the said land and any interest

therein shall belong to such corporation or owner thereof;



(3) To hold and acquire, by purchase or condemnation, any such real

estate as may be requisite or necessary for the purpose of constructing,

erecting, maintaining and operating terminal facilities for the use of the

railroads occupying or having access to such union station or depot, and also

to build, maintain and operate terminal railroads and terminal facilities to

be used in connection with such union station or depot, and to build, maintain

and operate railroads, ferries and bridges over navigable streams, or

otherwise, and to construct tunnels as and for approaches to said union

station or depot, and to such extent as may be deemed necessary by the

corporation operating and maintaining such union station or depot, and for

such purposes to acquire property and extend its terminal facilities beyond

the limits of this state, and also to transport, or permit to be transported,

persons and property over such railroads, ferries and bridges as may be built

or operated by any corporation operating thereunder and to charge

compensation therefor, and such depot or railroad company may acquire and

hold the stock and obligations of any company operated in connection with or

forming part of the terminal facilities of such union depot or railroad

company, and may guarantee the principal and interest of such obligations and

dividends upon such stock;



(4) To have the right to lay the necessary tracks across, over, upon or

under such streets of the city in which said station or depot is to be

constructed, and across, over, upon or under such roads of the county or

counties into which such terminal facilities are to be extended, as may be

necessary in order to make the necessary connections with all such railroads

as are to have access to said station or depot, and also to construct such

station or depot across, under, over or upon any such streets or roads;

provided, that nothing herein contained shall be construed to authorize the

construction of such tracks, or station or depot, not already located,

across, under, over or upon any street in a city or a road of any county,

without the consent of the corporate authorities of such city or the county

commission of such county;



(5) From time to time, to borrow such sums of money as may be necessary

for the construction, completion, equipment, maintenance, finishing,

operating or repairing of such station or depot, and the terminal facilities

connected therewith, or for the purpose of funding its floating debt, or

refunding its bonded debt, or for the purpose of making additions,

alterations or betterments to its property, authorized by its charter, or for

making any connection with any railroad which is to have access to such union

station or depot, or with any bridge or tunnel connected with or forming a

part of such terminal facilities, or for the construction, alteration or

repair of any such bridge or tunnel connected with or forming a part of such

terminal facilities, and for any or all of the above named purposes, may

issue, sell, hypothecate and dispose of its corporate bonds for such amounts

and at such prices as may by such corporation be deemed proper for obtaining

any amount so borrowed, and may mortgage its corporate property and franchise

or franchises, or any part or parts thereof, to secure the payment of such

bonds or of any debt so contracted by such corporation for any of the

purposes aforesaid;



(6) To open, from time to time, books of subscription to the remainder of

the capital stock not taken by the subscribers to the articles of

association; provided, however, that any company organized under section

388.460 shall not have the power by condemnation to acquire the property now

owned by any other union depot company or railroad company and used or needed

for its corporate purposes, but any company formed hereunder shall have the

same right and power to intersect, connect with and cross other railroads

with its tracks, and to join and unite its tracks with those of similar

companies or railroad companies as is by the constitution and laws of this

state conferred upon railroad companies, and the same method of ascertaining

the compensation to be made therefor shall apply as is provided in the case

of railroad companies under similar circumstances.



(RSMo 1939 § 5252)



Prior revisions: 1929 § 4814; 1919 § 10003; 1909 § 3216







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