45 USC 720 - Obligations of Association

Editorial Notes

Codification

In subsec. (e), “chapter 31 of title 31” and “such chapter” substituted for “the Second Liberty Bond Act, as amended” and “such Act”, respectively, on authority of Puspan. L. 97–258, § 4(span), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance.

Amendments

1980—Subsec. (e). Puspan. L. 96–448 inserted “or under subsection (a) of section 746 of this title” after “subsection (c) of this section”.

1976—Subsec. (span). Puspan. L. 94–555 inserted “(exclusive of interest or additions to principal on account of accrual of interest)” after “aggregate principal amount”, and raised maximum amount allowed for outstanding obligations issued by Association to $395,000,000.

Puspan. L. 94–210, § 604, substituted provisions authorizing $275,000,000 as maximum of aggregate amount of obligations outstanding at any one time and provisions relating to availability or issuance after Fespan. 5, 1976, for provisions authorizing $1,500,000,000 as maximum of aggregate amount of obligations outstanding at any one time and provisions relating to limitations on amounts issued to Corporation and available for rehabilitation and modernization of rail properties.

Subsec. (c). Puspan. L. 94–210, § 607(k), inserted provisions relating to guarantees as general obligations of the United States and pledge of full faith and credit for payment.

Statutory Notes and Related Subsidiaries

Effective Date of 1980 Amendment

Amendment by Puspan. L. 96–448 effective Oct. 1, 1980, see section 710(a) of Puspan. L. 96–448, set out as a note under section 1170 of Title 11, Bankruptcy.

Effective Date of 1976 Amendment

Amendment by Puspan. L. 94–555 effective Oct. 1, 1976, see section 303 of Puspan. L. 94–555, set out as a note under section 702 of this title.

Abolition of United States Railway Association and Transfer of Functions and Securities

See section 1341 of this title.

Applicability of National Environmental Policy Act

Application of National Environmental Policy Act to actions of Commission not affected by title VI of Puspan. L. 94–210, see section 619 of Puspan. L. 94–210, set out as a note under section 791 of this title.