Page:United States Statutes at Large Volume 88 Part 2.djvu/215

 88 STAT. ]

1531

PUBLIC LAW 93-496-OCT. 28, 1974

be made no more frequently than every 90 days, unless the Corporation, for good cause, requests more frequent payment before the expiration of any 90-day period.". SEC. 9. (a) Section 602(d) of such Act (45 U.S.C. 602(d)), relating to the maximum amount of guaranteed loans which may be outstanding at any time, is amended by striking out "$500,000,000" and inserting in lieu thereof "$900,000,000". (b) Section 602 of such Act (45 U.S.C. 602) is amended by adding at the end thereof the following new subsections: " (h) The Secretary shall, within 180 days after the date of enactment of this subsection, issue general guidelines designed to assist the Corporation in the formulation of capital and budgetary plans. "(i) Any request made by the Corporation for the guarantee of a loan pursuant to this section, which has been approved by the Board of Directors of the Corporation, shall be approved by the Secretary if, in the discretion of the Secretary, such request falls within the approved capital and budgetary guidelines issued under subsection (h).". SEC. 10. Section 801(b) of such Act (45 U.S.C. 641(b)) is amended to read as follows: " (b) A civil action may be brought by the Commission to enforce any provision of subsection (a) of this section. The Department of Justice shall represent the Commission in all court proceedings pursuant to this subsection, except that in any case in which the Commission seeks to challenge action or inaction on the part of any party which the Department of Justice is representing, the Commission may be represented by its own attorneys. Unless the Attorney General notifies the Commission within 45 days of a request for representation that he will represent the Commission, such representation may be made by attorneys designated by the Commission. Any action to enforce the provisions of subsection (a) may be maintained in the district court of the United States for any district in which a defendant is found, resides, transacts business, or maintains an a^ent for service of process. All process in any such suit may be served in any judicial district in which the person to be served is an inhabitant or in which he may he found.". SEC. 11. Section 805(2)(A) of such Act (45 U.S.C. 644 (2)(A)) is amended—• (1) by striking out the first two sentences and inserting in lieu thereof the following: "The Comptroller General of the United States shall conduct annually a performance audit of the activities and transactions of the Corporation in accordance with generally accepted management principles, and under such rules and regulations as may be prescribed by the Comptroller General. Any such audit shall be conducted at such place or places as the Comptroller General may deem appropriate."; and (2) by striking out "financial transactions" in the third sentence and inserting in lieu thereof "financial and other transactions". SEC. 12. The Rail Passenger Service Act of 1970 is amended by striking out "Rail Passenger Service Act of 1970" each place it appears and inserting in lieu thereof at each such place "Rail Passenger Service Act". SEC. 13. The High Speed Ground Transportation Act (49 U.S.C. 1631 et seq.) is amended by adding at the end thereof the following new section: "SEC. 13. (a) The Secretary shall make an investigation and study, for the purpose of determining the social advisability, technical feasi-

Guaranty of loans.

Guidelines.

Approval,

Enforcement procedures.

Annual audit.

26 USC 250, 45 USC 501 note.

High-speed ground transpor tation system, study. 49 USC 1643.

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