45 U.S.C. § 1204 : US Code - Section 1204: Transition period

Search 45 U.S.C. § 1204 : US Code - Section 1204: Transition period

(a) Joint report by Secretary and Governor of Alaska; contents,
preparation, etc.
Within 6 months after January 14, 1983, the Secretary and the
Governor of Alaska shall jointly prepare and deliver to the
Congress of the United States and the legislature of the State a
report that describes to the extent possible the rail properties of
the Alaska Railroad, the liabilities and obligations to be assumed
by the State, the sum of money, if any, in the Alaska Railroad
Revolving Fund to be withheld from the State pursuant to section
1202(10)(C) (!1) of this title, and any personal property to be
withheld pursuant to section 1202(10)(D) (!1) of this title. The
report shall separately identify by the best available descriptions
(1) the rail properties of the Alaska Railroad to be transferred
pursuant to section 1203(b)(1)(A), (B), and (D) of this title; (2)
the rail properties to be subject to the license granted pursuant
to section 1203(b)(1)(C) of this title; and (3) the easements to be
reserved pursuant to section 1203(c)(2) of this title. The
Secretaries of Agriculture, Defense, and the Interior and the
Administrator of the General Services Administration shall provide
the Secretary with all information and assistance necessary to
allow the Secretary to complete the report within the time
required.
(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
Prior to transfer of the rail properties of the Alaska Railroad
to the State, the Alaska Railroad's accounting practices and
systems shall be capable of reporting data to the Interstate
Commerce Commission in formats required of comparable rail carriers
subject to the jurisdiction of the Interstate Commerce Commission.
(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 State 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) of
chapter 107 of title 49.