47.76.290 - Sale or lease for other use -- Authorized buyers, notice, terms, deed, deposit of moneys.

Sale or lease for other use — Authorized buyers, notice, terms, deed, deposit of moneys.

(1) If real property acquired by the department under this chapter is not sold to a public or private entity authorized to operate rail service within six years of its acquisition by the department, the department may sell or lease the property at fair market value to any of the following governmental entities or persons:

     (a) Any other state agency;

     (b) The city or county in which the property is situated;

     (c) Any other municipal corporation;

     (d) The former owner, heir, or successor of the property from whom the property was acquired;

     (e) Any abutting private owner or owners.

     (2) Notice of intention to sell under this section shall be given by publication in one or more newspapers of general circulation in the area in which the property is situated not less than thirty days prior to the intended date of sale.

     (3) Sales to purchasers may, at the department's option, be for cash or by real estate contract.

     (4) Conveyances made under this section shall be by deed executed by the secretary of transportation and shall be duly acknowledged.

     (5) All moneys received under this section shall be deposited in the essential rail banking account of the general fund.

[1993 c 224 § 8; 1991 sp.s. c 15 § 62; 1985 c 432 § 4. Formerly RCW 47.76.050.]

Notes: Construction -- Severability -- 1991 sp.s. c 15: See note following RCW 46.68.110.