(1) "Authority" means the West Virginia railroad maintenance authority created by this article, the duties, powers, responsibilities and functions of which are specified in this article.
(2) "Bond" or "railroad maintenance authority bond" means a revenue bond or rate issued by the railroad maintenance authority to effectuate the intents and purposes of this article.
(3) "Railroad" means a common carrier by railroad as defined in section 1(3) of Part I of the Interstate Commerce Act (49 U.S.C. (1) 3).
(4) "Owner" means and includes all individuals, copartnerships, associations, corporations, companies, transportation companies, public service corporations, the United States or any agency or instrumentality thereof, common carriers by rail and railroad companies having any title or interest in any rail properties authorized to be acquired, leased or used by this article.
(5) "Income" means and includes all money accruing to the authority from any source.
(6) "Person" means individuals, corporations, partnerships or foreign and domestic associations, including railroads.
(7) "Rail properties" means assets or rights owned, leased, or otherwise controlled by a railroad or other person which are used, or useful, in rail transportation service: Provided, That rail properties does not include any properties owned, leased, or otherwise controlled by a railroad not in reorganization, unless it consents to such properties' inclusion in the particular transaction.
(8) "Rail service" means both freight and passenger service.
(9) "Railroad project" means the initiation, acquisition, construction, maintenance, repair, equipping or operation of rail properties or rail service, or the provisions of loans or grants to or with government agencies, or to persons for such purposes, by the authority.
Note: WV Code updated with legislation passed through the 2012 1st Special Session