Pub. L. 94-555, tit. II, sec. 202

bail marine freight service; options

EnactedYear: 1976Length: 248 wordsOfficial source
bail marine freight service; options Sec. 202. (a) The last sentence of section 206(d)(5) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 716(d)(5)) is amended by inserting immediately after “passenger service” the following: “or for purposes of providing rail marine freight floating service”. (b) Section 303(c) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 743(c)) is amended by adding at the end thereof the following new paragraph: “(6) Whenever the Corporation exercises an option to acquire, or acquires, interests in rail marine freight floating equipment pursuant to the recommendations of the final system plan, and the Corporation 90 STAT. 2617thereafter makes such floating equipment available to a profitable railroad operating in the region, a State, or a responsible person including a government entity), the United States shall indemnify— “(A) the Corporation against any costs or liabilities imposed on the Corporation as the result of any judgment entered against it, with respect to such equipment, under paragraph (2) of this subsection; and “(B) such profitable railroad, State, or responsible person against any costs or liabilities imposed thereon as the result of any judgment entered against such profitable railroads, State, or responsible person under paragraph (3) of this subsection, plus interest on the amount of such judgment at such rate as is constitutionally required.”. (c) Section 206(d)(7) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 716(d)(7)) is amended by inserting immediately after “acquisition” the following; “by the Corporation pursuant to the final system plan”.