§5B-1A-5. Powers to hold and acquire real property.
(a) The state rail authority shall hold fee simple title or
any lesser interest in land, including easements and leaseholds, on
all abandoned railroad rights-of-way acquired by the state and
utilized for interim nonmotorized recreational trail use pursuant
to the provisions of this article. The state rail authority may,
at the option of a political subdivision of this state, hold fee
simple title or any lesser interest in land, including easements
and leaseholds, on all abandoned railroad rights-of-way acquired by
such political subdivision and utilized for interim nonmotorized
recreational trail use. Any provision of article one-a, chapter
twenty of this code to the contrary notwithstanding, the public
land corporation shall not be vested with title to any abandoned
railroad right-of-way which becomes vested in the state pursuant to
the provisions of this article.
(b) The state rail authority may acquire an interest in an
abandoned railroad right-of-way to be used as a rail trail, in
accordance with the provisions of section six, article eighteen,
chapter twenty-nine of this code.
(c) The state rail authority shall issue a rail bank
certificate for each abandoned railroad right-of-way held by the
state rail authority for interim nonmotorized recreational purposes
in accordance with the provisions of section six of this article.