Subdivision 1. Scope.
For purposes of sections
the terms defined in this
section have the meanings given.
Subd. 1a. Account.
"Account" means the rail user loan guarantee account created by
Subd. 2. Commissioner.
"Commissioner" means the commissioner of transportation.
Subd. 3.[Renumbered subd 1a]
Subd. 3a. Guarantee.
"Guarantee" means a personal or corporate obligation to pay the loan.
Subd. 4. Lender.
"Lender" means any state or federally chartered bank, or in the case of
revenue bonds issued under chapter 362A or 474, the municipality, county, or rural development
Subd. 5. Loan.
"Loan" means a loan or advance of credit provided by a financial institution
to (1) either a rail user or rail carrier for participation in contracts for rail line or rolling stock
rehabilitation, acquisition, or installation, or for paying the costs of capital improvements
necessary to improve rail service or reduce the impact of discontinuance of rail service, or (2) a
rail carrier for rehabilitation of locomotives.
Subd. 6.[Renumbered subd 3a]
Subd. 7.[Renumbered subd 8a]
Subd. 8. Rail carrier.
"Rail carrier" means a common carrier by rail engaged in rail
transportation of people, goods, or products for hire.
Subd. 8a. Rail user.
"Rail user" has the meaning given that term in section
Subd. 9. Rolling stock.
"Rolling stock" means rail cars, machinery, and equipment used
by a rail carrier to move people, goods, and products, but does not include maintenance of way
equipment or tools used in the maintenance or upgrade of track.
History: 1978 c 667 s 2; Ex1979 c 1 s 39; 1994 c 635 art 1 s 22-25