HomeMy WebLinkAbout1988-156-10/04/1988-BURLINGTON NORTHERN PURCHASE RAILROAD REX LINE RAILS TO TRAILS CONVERSION RESOLUTION 88- 156
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE PURCHASE, AND RAILS TO
TRAILS CONVERSION, OF A PORTION OF THE
BURLINGTON-NORTHERN RAILROAD REX LINE
WHEREAS, the Burlington-Northern Railroad ("Railroad") has indicated
its intention to terminate rail carriage on a portion of the "Rex Line"
from Sherwood Street northwest to the Town of LaPorte; and
WHEREAS, the right-of-way for the Rex Line is owned by the Railroad in
part subject to reversionary interests and in part without the possibility
of reverter; and
WHEREAS, the Railroad is willing to convey to the City of Fort Collins
those portions of the Rex Line which are not subject to a reversionary
interest for a total purchase price of Sixty-seven Thousand Nine Hundred
and Six Dollars ($67,906) ; and
WHEREAS, the Railroad is willing to convey to the City those portions
of the Rex Line which are subject to a possibility of reverter for One
Thousand Dollars ($1 ,000) ; and
WHEREAS, the Council of the City of Fort Collins has determined that
it is in the best interest of the City that the City accomplish the
purchase of the Rex Line, including those portions which are subject to the
possibility of reverter, for the total sum of Sixty-eight Thousand Nine
Hundred and Six Dollars ($68,906) ; and
WHEREAS, the Council has further determined that it is in the best
interest of the City that a trail be established upon certain portions of
the Rex Line, and particularly, and without limitation, upon those portions
of the Line that are subject to the possibility of reverter from the
approximate intersection of Wood Street and the Line and to the west
thereof to its terminus; and
WHEREAS, the Council has further determined that the National Trails
Act should be utilized for the purpose of making application to the
Interstate Commerce Commission, and such other governmental agencies as may
be necessary, for the purpose of conversion of said Line to interim trail
purposes and for the further purpose of railbanking said Line for future
rail traffic use.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1 . That the City Manager be, and he hereby is, authorized to
enter into a sale/purchase agreement with the Burlington-Northern Railroad
for the purchase of the Rex Line from the easternmost boundary of Sherwood
Street, and heading in a northwesterly direction to its terminus west of
Overland Trail Road, for a total purchase price of Sixty-eight Thousand
Nine Hundred and Six Dollars ($68,906) .
Section 2. That the City Manager be, and he hereby is, authorized to
make application with the Interstate Commerce Commission of the United
States of America, and such other governmental agencies as are necessary
and proper, for the purpose of conversion of a portion of the Rex Line from
rail purposes to interim trail purposes pursuant to Section 8(d) of the
National Trails Act, 16 U.S.C. §1247(d) , and for the further purpose of
preserving said line for potential future rail traffic use.
Passed and adopted at a regular meeting of the Council of the City of
Fort Collins held this 4th day of October, A.D. 1988.
Mayor
ATTEST:
City Clerk