Search results Help  |  Status

Relating to providing that any corporation now or hereafter organized under the laws of this State, authorized to construct, acquire and operate electric or other interurban railways, commonly known as interurban railways, shall have the power to purchase, lease or acquire the physical property, rights and franchises of any other corporation organized for like purposes, or to acquire lease or purchase the physical properties, rights and franchises of any corporation owning suburban or street railways and giving to such corporation so acquired, leased or purchased the right and power to sell or dispose of its properties to such purchasing corporation, all upon such terms as may be agreed upon between the boards of directors of the respective corporations; provided, that in case of said street car railways, the consent of the city council, board or commissioners, or other governing body, as the case may be, of the city where such street car line may be located, must first be obtained, and also authorized or approved by a majority of the stockholders.