Page:United States Statutes at Large Volume 90 Part 1.djvu/134

 90 STAT. 84

PUBLIC LAW 94-210—FEB. 5, 1976 "TITLE III—CONSOLIDATED RAIL CORPORATION "Sec. 301, "Sec. 302. "Sec. 303. "Sec. 304. "Sec. 305. "Sec. 306. "Sec. 307.

Formation and structure. Powers and duties of the Corporation. Valuation and conveyances of rail properties. Termination and continuation of rail services. Continuing reorganization; supplemental transactions. Certificates of value. Protection of Federal funds. "TITLE IV—LOCAL RAIL SERVICES

"Sec. 401. Findings and purposes. "Sec. 402. Rail service continuation assistance. "Sec. 403. Acquisition and modernization loans. "TITLE V—EMPLOYEE PROTECTION

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"Sec. 501. "Sec. 502. "Sec. 503. "Sec. 504. "Sec. 505. "Sec. 506. "Sec. 507. "Sec. 508. "Sec. 509.

Definitions. Employment offers. V Assignment of work. Collective-bargaining agreements. Employee protection. Contracting out. Arbitration. Duties of acquiring and selling railroads. Payment of benefits.

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"TITLE VI—MISCELLANEOUS PROVISIONS

45 USC 720. 45 USC 721. Post, p. 89.

pose, p. 100.

"Sec. 601. "Sec. 602. "Sec. 603. "Sec. 604. "Sec. 605.

Relationship to other laws. Annual evaluation by the Secretary. Freight rates for recyclables. Separability. Duty of transferee.".

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(c) Section 202(a)(2) of such Act (45 U.S.C. 712(a)(2)) is amended to read as follows: " (2) issue obligations under section 210 of this title; make loans under section 211 of this title; purchase or otherwise acquire or receive and hold and dispose of securities (whether debt or equity) of the Corporation under section 216 of this title and exercise all of the rights, privileges, and powers of a holder of any such securities; and issue certificates of value under section 306 of this Act;". (d) Section 303 of such Act (45 U.S.C. 743) is amended by adding at the end thereof the following new subsection: " (e) TRANSFER AND OTHER TAXES AND RECORDING FEES.—All transfers or conveyances of rail properties (whether real, personal, or mixed) which are made under this Act (including transfers and conveyances which are made in accordance with a supplemental transaction pursuant to section 305 of this title) shall be exempt from any taxes, imposts, or levies now or hereafter imposed, by the United States or by any State or any political subdivision of a State, on or in connection with such transfers or conveyances or on the recording of deeds, bills of sale, liens, encumbrances, or other instruments evidencing, effectuating, or incident to any such transfers or conveyances, whether imposed on the transferor or on the transferee. Such transferors and transferees shall be entitled to record any such deeds, bills of sale, liens, encumbrances, or other instruments and, consistent with the designations and applicable principles in the final system plan, to record the release or removal of any pre-existing liens or encumbrances of record with respect to properties so transferred or conveyed, upon payment of any appropriate and generally applicable charges to compensate for the cost of the service performed.". (e) Section 208 of such Act (45 U.S.C. 718) is amended by adding at the end thereof the following new subsection:

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