A bill to authorize the Secretary of Transportation to make a loan of $100 million to the Chicago, Rock Island, and Pacific Railroad Co.

Summary

Authorizes the Secretary of Transportation to make a loan of $100,000,000 to the Chicago, Rock Island, and Pacific Railroad Company. Establishes conditions which shall be required by the Secretary before granting such loan. Empowers the Secretary to approve any modifications of any provision of the loan made under this Act. Directs the Secretary to issue such rules and regulations as are appropriate to carry out the purposes of this Act. Grants the Secretary powers necessary to enforce the provisions and conditions of this Act. Requires the Secretary to report to the President and to the Congress with respect to his activities pursuant to this Act and to make recommendations for additional legislative action. Declares that the Comptroller General of the United States shall have access to such information, books, records, and documents as he determines necessary to audit operations carried out in the administration of this Act. Authorizes the appropriation of such sums as may be necessary to carry out this Act in addition to the amount to be loaned.

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1 official file

• Introduced in House

  summary · EN · 21 April 1975

  Open at official source

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