Page:United States Statutes at Large Volume 90 Part 1.djvu/188

 90 STAT. 138

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PUBLIC LAW 9 4 - 2 1 0 — F E B. 5, 1976 " (f) PURCHASE.—If a n offer to purcliase is made under subsection (c)(2)(C) of this section, such offer shall be accompanied by an offer of a rail service continuation payment. Such payment shall continue until the purchase transaction is completed, unless a railroad assumes operations over such rail properties of its own account pursuant to an order or authorization of the Commission, Wlienever a railroad in reorganization in the region or a profitable railroad gives notice of intent to discontinue service pursuant to subsection (a) of this section, such railroad shall, upon the request of anyone apparently qualified to make an offer to purchase or to provide a rail service continuation payment, promptly make available its most recent reports on the physical condition of such property, together with such traffic and revenue data as would be required under subpart B of part 1121 of chapter X of title 49 of the Code of Federal Regulations and such other data as are necessary to ascertain the avoidable costs of providing service over such rail properties. " (g) ABANDONMENT BY CORPORATION.—After the rail system to be

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operated by the Corporation or a subsidiary thereof under the final system plan has been in operation for 2 years, the Commission may authorize the Corporation or a subsidiary thereof to abandon any rail properties as to which it determines that rail service over such properties is not required by the public convenience and necessity, if the Corporation or a subsidiary thereof can demonstrate that no State (or local or regional transportation authority) is willing to offer a rail service continuation payment pursuant to subsection (c) of this section. The Commission may, at any time after the effective date of the final system plan, authorize additional rail service in the region or authorize the abandonment of rail properties which are not being operated by the Corporation or any subsidiary or affiliate thereof or by any other person. Determinations by the Commission under this subsection shall be made pursuant to applicable provisions of the Interstate Commerce Act. " (h) I N T E R I M A B A N D O N M E N T, — After the date of enactment of t h i s

45 USC 743.

section and prior to the date of conveyance (pursuant to section 303 (b)(1) of this title), no railroad in reorganization in the region may discontinue service or abandon any line of railroad other than in accordance with the provisions of this Act, unless (1) it is authorized to do so by the Association, and (2) no affected State (or local or regional transportation authority) reasonably opposes such action, notwithstanding any provision of any other Federal law, the constitution or law of any State, or the decision or order of, or the pendency of any proceeding before any Federal or State court, agency, or authority. " (i) DISPOSITION o r DESIGNATED R A I L PROPERTIES.—No r a i l r o a d in

Ante, p, 31.

reorganization in the region and no person leased, operated or controlled by such a railroad shall sell, transfer, encumber, or otherwise dispose of rail property, or any r i g h t or interest therein, designated for transfer to the Corporation or conveyance to a profitable railroad in the final system plan, except pursuant to section 303(b) of this title. The provisions of this subsection shall not apply to any such sale, transfer, encumbrance, or other disposition— " (1) as to which the Association generally or specifically consents in writing; " (2) which, prior to enactment of the Railroad Revitalization and Regulatory Reform Act of 1976, h a d been specifically approved by a United States district court having jurisdiction over the reorganization of a railroad in reorganization under section 77 of the B a n k r u p t c y Act (11 U.S.C. 2 0 5); or

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