RURAL ECONOMIC DEVELOPMENT AND INTEGRATED FREIGHT TRANSPORTATION PROGRAM
49-2903. Duties of the interagency working group. (1) The interagency working group shall provide recommendations to the department of agriculture in order for that department to establish criteria for evaluating intermodal projects of significance to the state, and the interagency working group shall continue to monitor projects for which it provides assistance to the department of agriculture.
(2) The interagency working group shall provide recommendations to the department of agriculture in order for the department to develop criteria for prioritizing freight rail and intermodal projects that meet the minimum eligibility requirements for state financial support from the revolving loan fund created in section 49-2904, Idaho Code. Project criteria should consider the level of local financial commitment to the project as well as the cost/benefit ratio. Railroads, shippers, intermodal commerce authorities as defined in chapter 22, title 70, Idaho Code, and others who benefit from the project should participate financially to the greatest extent practicable.
(3) The interagency working group shall provide the assistance necessary for the department to ensure that the state maintains a contingent interest in any equipment, property, rail line, or facility that has outstanding grants or loans. The owner of a qualified line as defined in section 49-2904, Idaho Code, shall not use the line as collateral, remove track, bridges or associated elements for salvage, or use it in any other manner subordinating the state’s interest until any loan made to the owner pursuant to this chapter has been repaid in full. As the state is not a primary lender of money, it is understood the state may need to take a subordinate position for its contingent interest.
[(49-2903) 49-2902, added 2001, ch. 348, sec. 2, p. 1225; am. and redesig. 2006, ch. 413, sec. 4, p. 1253; am. 2007, ch. 339, sec. 3, p. 992; am. 2007, ch. 360; sec. 17, p. 1076; am. 2008, ch. 27, sec. 12, p. 52.]