In the event a railway bed or track, other than one owned by the municipality, occupies a portion of a street, road or alley, the owner of the railway shall pay of the total cost of the work, the proportion that the area occupied by the railroad bears to the total area of the street, road, or alley, to be improved and also the cost of the extra work made necessary by the presence of the track in the street, road or alley.
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