388.470. Powers of such corporation or railroad company.
Powers of such corporation or railroad company.
388.470. Every corporation formed under section 388.460, andevery railroad company which may build and operate a unionstation or depot under said section, shall, in addition to thegeneral powers conferred by the laws of this state, in relationto corporations, have power
(1) To take and hold for the purposes mentioned in section388.460 such real estate and railroad and other property as itmay acquire by conveyance to said corporation, and such realestate as it may acquire under the provisions of said previoussection, by condemnation;
(2) To take, occupy and condemn any lands and real estateneeded for the establishment of such union station or depot, orthe terminal facilities in connection therewith, and the sameproceedings shall be had therefor as provided by law relating tothe appropriation and valuation of land taken for telegraph,macadamized, graded, plank or railroad purposes, so far asapplicable thereto, and, when so condemned the said land and anyinterest therein shall belong to such corporation or ownerthereof;
(3) To hold and acquire, by purchase or condemnation, anysuch real estate as may be requisite or necessary for the purposeof constructing, erecting, maintaining and operating terminalfacilities for the use of the railroads occupying or havingaccess to such union station or depot, and also to build,maintain and operate terminal railroads and terminal facilitiesto be used in connection with such union station or depot, and tobuild, maintain and operate railroads, ferries and bridges overnavigable streams, or otherwise, and to construct tunnels as andfor approaches to said union station or depot, and to such extentas may be deemed necessary by the corporation operating andmaintaining such union station or depot, and for such purposes toacquire property and extend its terminal facilities beyond thelimits of this state, and also to transport, or permit to betransported, persons and property over such railroads, ferriesand bridges as may be built or operated by any corporationoperating thereunder and to charge compensation therefor, andsuch depot or railroad company may acquire and hold the stock andobligations of any company operated in connection with or formingpart of the terminal facilities of such union depot or railroadcompany, and may guarantee the principal and interest of suchobligations and dividends upon such stock;
(4) To have the right to lay the necessary tracks across,over, upon or under such streets of the city in which saidstation or depot is to be constructed, and across, over, upon orunder such roads of the county or counties into which suchterminal facilities are to be extended, as may be necessary inorder to make the necessary connections with all such railroadsas are to have access to said station or depot, and also toconstruct such station or depot across, under, over or upon anysuch streets or roads; provided, that nothing herein containedshall be construed to authorize the construction of such tracks,or station or depot, not already located, across, under, over orupon any street in a city or a road of any county, without theconsent of the corporate authorities of such city or the countycommission of such county;
(5) From time to time, to borrow such sums of money as maybe necessary for the construction, completion, equipment,maintenance, finishing, operating or repairing of such station ordepot, and the terminal facilities connected therewith, or forthe purpose of funding its floating debt, or refunding its bondeddebt, or for the purpose of making additions, alterations orbetterments to its property, authorized by its charter, or formaking any connection with any railroad which is to have accessto such union station or depot, or with any bridge or tunnelconnected with or forming a part of such terminal facilities, orfor the construction, alteration or repair of any such bridge ortunnel connected with or forming a part of such terminalfacilities, and for any or all of the above named purposes, mayissue, sell, hypothecate and dispose of its corporate bonds forsuch amounts and at such prices as may by such corporation bedeemed proper for obtaining any amount so borrowed, and maymortgage its corporate property and franchise or franchises, orany part or parts thereof, to secure the payment of such bonds orof any debt so contracted by such corporation for any of thepurposes aforesaid;
(6) To open, from time to time, books of subscription to theremainder of the capital stock not taken by the subscribers tothe articles of association; provided, however, that any companyorganized under section 388.460 shall not have the power bycondemnation to acquire the property now owned by any other uniondepot company or railroad company and used or needed for itscorporate purposes, but any company formed hereunder shall havethe same right and power to intersect, connect with and crossother railroads with its tracks, and to join and unite its trackswith those of similar companies or railroad companies as is bythe constitution and laws of this state conferred upon railroadcompanies, and the same method of ascertaining the compensationto be made therefor shall apply as is provided in the case ofrailroad companies under similar circumstances.
(RSMo 1939 § 5252)Prior revisions: 1929 § 4814; 1919 § 10003; 1909 § 3216