Consent by Municipality to Sale of Street, Suburban, or Interurban Railroad and Bus Properties and Franchises; Hearing for Approval of Sale; Filing of Board Resolution, Resolution of Municipality, and Order of Approval

  1. Law
  2. Georgia Code
  3. Public Utilities and Public Transportation
  4. Railroad Companies
  5. Street, Suburban, and Interurban Railroads
  6. Consent by Municipality to Sale of Street, Suburban, or Interurban Railroad and Bus Properties and Franchises; Hearing for Approval of Sale; Filing of Board Resolution, Resolution of Municipality, and Order of Approval

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Any electric street, suburban, or interurban railroad corporation which desires to avail itself of the provisions of Code Section 46-8-344 shall, before consummating such sale or other disposition of its railroad and bus properties and franchises:

  1. Secure the consent of the mayor and council or other governing body of the municipality served by such railroad and bus transportation facilities to the sale or other disposition of the railroad and bus properties and franchises, such consent to be evidenced by a certified copy of a resolution or an ordinance of such governing body;
  2. Apply by petition to the commission on 15 days' notice for an adjudication, after a public hearing on the merits of the proposed sale, the solvency and eligibility under the laws of Georgia of the prospective purchaser and his ability and capacity to render adequate and satisfactory service, as to whether the proposed sale or other disposition is in the public interest. A certified copy of the order of the mayor and council or other governing body of the municipality, evidencing its consent to the sale or other disposition of the railroad and bus property, shall be attached to and made a part of such petition; and
  3. After securing the order of approval of the commission of the sale or other disposition of such railroad and bus properties and franchises as being in the public interest, file with the Secretary of State, as an amendment to its charter, a certified copy of a resolution of the board of directors reciting that the company elects to sell its railroad and bus properties and franchises and to avail itself of the provisions of Code Section 46-8-344. The company shall attach to the resolution a certified copy of the resolution or ordinance of the mayor and council or other governing body of the municipality evidencing its consent to such sale or other disposition of its railroad and bus properties and franchises. The company shall also attach to the resolution a certified copy of the commission's order of approval of the sale or other disposition of the railroad and bus property as being in the public interest.

(Ga. L. 1945, p. 260, § 2.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 19 Am. Jur. 2d, Corporations, §§ 2081, 2082.

C.J.S.

- 19 C.J.S., Corporations, §§ 651, 652. 74 C.J.S., Railroads, §§ 427, 431.

ALR.

- Power of Public Service Commission with respect to regulation of street railways, 39 A.L.R. 1517.


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