Pub. L. 108-447, div. H, tit. I, sec. 120

Pub. L. 108-447, div. H, tit. I, sec. 120

EnactedYear: 2004Length: 86 wordsOfficial source
Sec. 120. Notwithstanding any other provision of law, the Department of Transportation shall complete approval of the proposed surety substitution for one-half of the bond debt service reserve amount for the RETRAC project within 30 days after receiving from RETRAC a binding commitment from a qualified provider to deliver a surety at an acceptable price. Such bond debt service funds so released shall be deposited into the RETRAC project contingency fund for payment of RETRAC project costs in the event current project cost projections are exceeded.