Page:United States Statutes at Large Volume 108 Part 3.djvu/743

 PUBLIC LAW 103-331—SEPT. 30, 1994 108 STAT. 2495 SEC. 335A. Section 5302(a)(1) of title 49, United States Code, is amended by inserting "payments for the capital portions of rail trackage rights agreements," after "rights-of-way,". SEC. 336. (a) FEDERAL LINE OF CREDIT. — For the purpose of carrying out a demonstration of the construction of public toll roads in Orange County, California, authorized by section 129(d) of title 23, United States Code, there is hereby appropriated $8,000,000 for the Secretary to enter into an agreement to make ( a line of credit available, with a principal amount not to exceed $120,000,000 to the public entity or entities with the statutory authority to construct such facilities. (b) EFFECTIVE PERIOD.— The line of credit under this section shall be available for draws during the period beginning on the date of completion of construction and ending on the last day of the tenth calendar year following the date construction of the facilities is completed. (c) PURPOSES. —The line of credit under this section shall be available to pay the costs of extraordinary repair and replacement of the facilities, unexpected Federal or State environmental restrictions, operation and maintenance expenses of the facilities, and debt service on tax-exempt or taxable obligations financing the facilities. (d) LIMITATIONS. — (1) CAPITAL EXPENDITURES.—With respect to capital expenditures, draws on the line of credit under this section shall only be made if and to the extent proceeds from the sale of the obligations issued by the public entity or entities which otherwise would be available for such purposes are exhausted, or are otherwise unavailable for the payment of such capital expenditures. (2) EXPENSES. —With respect to expenses, including operation and maintenance expenses and debt service, a draw on the line of credit under this section shall only be made if revenues from toll operations and capitalized interest are insufficient (or are otherwise unavailable) for such purposes. (3) PER YEAR. — No more than 10 percent of the total principal amount of the line of credit under this section shall be available for draws in any one year. (4) THIRD PARTY CREDITOR RIGHTS.—No third party creditor of the public entity or entities shall have any right against the Federal Government with respect to draws on the line of credit under this section. (5) AVAILABILITY FOR PARTICULAR COSTS. —T here is no guaranteed availability of proceeds of the line of credit under this section for the payment of any particular cost of the public entity or entities which might be financed under this section. (e) INTEREST RATE AND REPAYMENT PERIOD. — Any draws (except for operation and maintenance expenses) on the line of credit under this section shall accrue interest at the 30-year United States Treasury bond rate beginning on the date such draws are made and shall be repaid in not more than 30 years; except that any draws under the line of credit for operation and maintenance expenses shall accrue interest at the 3-year United States Treasury note rate beginning on the date such draws are made and shall be repaid in not more than 3 years. SEC. 337. In addition to amounts otherwise provided by this Act, $2,900,000 shall be available for "Interstate Commerce

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