Section 224. Statement of expenses; filing; reimbursement of state for railroad improvements

Upon the determination of the commissioner of (1)
  the cost of such elimination including incidental improvements connected
  therewith; (2) the cost of such elimination exclusive of such incidental
  improvements; (3) the cost of the railroad improvements not an essential
  part of the elimination; (4) the  amount  of  the  net  benefit  to  the
  railroad  company  from  the  elimination  exclusive  of  such  railroad
  improvements; and (5) if two or more railroad companies be affected, the
  proportionate share of such  net  benefit  to  be  borne  by  each,  the
  commissioner  shall  cause  to  be  prepared, and filed in his office, a
  statement thereof, with a certified copy of such  statement  filed  with
  the  comptroller and railroad company affected. The amount determined to
  be the cost of railroad improvements  not  an  essential  part  of  such
  elimination,  together with such charges therefor as the comptroller may
  legally impose, including interest at the rate payable by the  state  on
  any  bonds  from the proceeds of which the project has been financed or,
  if and to the extent otherwise financed,  at  such  rate  not  exceeding
  seven and one-half per centum as the comptroller may determine, shall be
  repaid to the state forthwith upon demand by the comptroller. The amount
  of  the  net  benefit to a railroad company from an elimination shall be
  repaid to the state by such railroad company at such times and  in  such
  manner as may be determined by the comptroller together with interest at
  the  rate  payable  by the state on any bonds from the proceeds of which
  the project has been  financed  or,  if  and  to  the  extent  otherwise
  financed,  at  such  rate not exceeding seven and one-half per centum as
  the comptroller may determine, within a period  of  not  to  exceed  ten
  years from the date of the commissioner's determination, but in no event
  shall  the  total  amount  of such repayments, exclusive of interest and
  such additional charges as may be legally imposed  by  the  comptroller,
  exceed  fifteen  per centum of the expense of such elimination exclusive
  of all incidental improvements.
    Notwithstanding the preceding paragraph, the commissioner may, at  any
  time  after  the  work  of  an  elimination has been commenced, direct a
  hearing for the purpose of determining the cost, or a  portion  thereof,
  of  railroad improvements not an essential part of such elimination, and
  the amount so determined shall be immediately repayable to the state  in
  the manner above provided.
    In  the event of the failure or refusal of the railroad company or the
  successor thereof, to pay the amount or amounts  specified  and  at  the
  times  prescribed,  or  in  the  event  of  dissolution of such railroad
  company or successor, the entire indebtedness of such company in process
  of dissolution shall become immediately due and payable and  the  amount
  or amounts so due and payable may be recovered as follows:
    The  comptroller  may certify the amount or amounts so due and payable
  to the governing body of the county or counties in which the crossing is
  located, whereupon, it shall be the  duty  of  such  governing  body  to
  apportion  the  amount  or amounts so certified to the several towns and
  cities in such county according to the assessed valuation  of  the  real
  property  of  such  railroad  company  or  the successor thereof in such
  respective towns  and  cities  and  to  place  the  several  amounts  so
  apportioned  on the respective assessment rolls of such towns and cities
  and to issue  its  warrant  or  warrants  for  the  collection  thereof.
  Thereupon  it  shall  become  the  duty of such towns and cities through
  their appropriate officers to collect the respective several amounts  so
  apportioned  in  the  same  manner  as other taxes are collected in such
  towns and cities and when collected  to  pay  the  same  to  the  county
  treasurer of such county who shall thereupon pay the same into the state
  treasury. Any amount so levied shall thereupon become and be a first and

  paramount  lien  upon  all real property of such railroad company or the
  successor thereof within such respective towns and cities.
    All  moneys  received  by  the  comptroller from a railroad company in
  payment of the amounts due the state from such company as  the  cost  of
  railroad  improvements  not  an  essential part of an elimination or the
  amount of net benefit for such railroad company shall be credited to the
  grade crossing elimination debt fund, established by section  ninety-six
  of the state finance law.
    Upon  the  completion of work on the railroad tracks or other railroad
  facilities which has been performed by the railroad  company  forces  at
  the  direction of the commissioner, there shall be an accounting and the
  commissioner shall certify to the comptroller the amount of the  payment
  which is due from the state to such railroad company. Such payment shall
  be  made out of the state treasury to such railroad company on vouchers,
  approved by  the  commissioner,  upon  the  audit  and  warrant  of  the
  comptroller.  From  time  to time, prior to the completion of such work,
  intermediate accountings may be had and payments  made  thereon  in  the
  same manner as the final accounting.