45 USC 1204 - Transition period

U.S Code last checked for updates: Nov 22, 2024

§ 1204.

Transition period

(a)

Joint report by Secretary and Governor of Alaska; contents, preparation, etc.

(b)

Inspection, etc., of rail properties and records; terms and conditions; restrictions

During the period from January 14, 1983, until the date of transfer, the State shall have the right to inspect, analyze, photograph, photocopy and otherwise evaluate all of the rail properties of the Alaska Railroad and all records related to the rail properties of the Alaska Railroad maintained by any agency of the United States under conditions established by the Secretary to protect the confidentiality of proprietary business data, personnel records, and other information, the public disclosure of which is prohibited by law. During that period, the Secretary and the Alaska Railroad shall not, without the consent of the State and only in conformity with applicable law and the Memorandum of Understanding referred to in section 1205(b)(3) of this title—

(1)

make or incur any obligation to make any individual capital expenditure of money from the Alaska Railroad Revolving Fund in excess of $300,000;

(2)

(except as required by law) sell, exchange, give, or otherwise transfer any real property included in the rail properties of the Alaska Railroad; or

(3)

lease any rail property of the Alaska Railroad for a term in excess of five years.

(c)

Format for accounting practices and systems

(d)

Fair market value; determination, terms and conditions, etc.

(1)

Within nine months after January 14, 1983, the United States Railway Association (hereinafter in this section referred to as the “Association”) shall determine the fair market value of the Alaska Railroad under the terms and conditions of this chapter, applying such procedures, methods and standards as are generally accepted as normal and common practice. Such determination shall include an appraisal of the real and personal property to be transferred to the Sta

te pursuant to this chapter. Such appraisal by the Association shall be conducted in the usual manner in accordance with generally accepted industry standards, and shall consider the current fair market value and potential future value if used in whole or in part for other purposes. The Association shall take into account all obligations imposed by this chapter and other applicable law upon operation and ownership of the State-owned railroad. In making such determination, the Association shall use to the maximum extent practicable all relevant data and information, including, if relevant, that contained in the report prepared pursuant to subsection (a) of this section.

(2)

The determination made pursuant to paragraph (1) of this subsection shall not be construed to affect, enlarge, modify, or diminish any inventory, valuation, or classification required by the Interstate Commerce Commission pursuant to subchapter V 2

 See References in Text note below.

of chapter 107 of title 49.

(Pub. L. 97–468, title VI, § 605(a)–(d), Jan. 14, 1983, 96 Stat. 2562, 2563.)

cite as: 45 USC 1204