obligations of the association

obligations of the association Sec. 604. Section 210(b) of such Act (45 U.S.C. 720(b)) is amended to read as follows: 90 STAT. 89 “(b) Maximum Obligational Authority.—The aggregate amount of obligations of the Association issued under this section which may be outstanding at any one time shall not exceed $275,000,000. No obligations or proceeds thereof shall be issued or made available after the date of enactment of the Railroad Revitalization and Regulatory Reform Act of 1976 except— “(1) to meet existing or potential commitments for loans under section 211 of this title made or applied for prior to January 1, 1976; and “(2) for the purpose of providing loans pursuant to subsections (g) and (h) of section 211 of this title.”.