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45 U.S.C. § 1311 — Preparation for public offering

Federal law — U.S. Code and appendices · legal_authorities

45 U.S.C. § 1311 — Preparation for public offering

**(a) Public offering managers** (1) Not later than 30 days after October 21, 1986, the Secretary of Transportation, in consultation with the Secretary of the Treasury and the Chairman of the Board of Directors of the Corporation, shall retain the services of investment banking firms to serve jointly and be compensated equally as co-lead managers of the public offering (hereafter in this part referred to as the “co-lead managers”) and to establish a syndicate to underwrite the public offering. The total number of co-lead managers shall be no fewer than 4 nor greater than 6. The Secretary shall designate one co-lead manager to coordinate and administer the public offering. (2) In selecting the investment banking firms to serve as co-lead managers of the public offering under paragraph (1), consideration shall be given to the firm’s institutional and retail distribution capabilities, financial strength, knowledge of the railroad industry, experience in large scale public offerings, research capability, and reputation. In addition, recognition shall also be given to contributions made by particular investment banking firms before October 21, 1986, in demonstrating and promoting the long-term financial viability of the Corporation. **(b) Payment to United States** (1) Not later than 30 days after October 21, 1986, the Corporation shall transfer to the Secretary of the Treasury $200,000,000. (2) On or before February 1, 1987, or 30 days before the sale date, whichever occurs first, the Secretary of Transportation shall determine whether to require the Corporation to transfer to the Secretary of the Treasury, in addition to amounts transferred under paragraph (1), not to exceed $100,000,000, taking into account the viability of the Corporation. The Corporation shall tran

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Stable record: federal_law:legal_authorities:record_usc_98a9c012020e93e99d10c6bd
Source file: Laws/federal/codes/united-states-code/title-45/section-1311-preparation-for-public-offering--b265963846.md
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Source location: Title 45, Chapter 22, § 1311; chapter-022-conrail-privatization.md

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Federal law — U.S. Code and appendices · legal_authorities

45 U.S.C. § 726 — Debentures and series A preferred stock

**(a) General** The Association is authorized, in accordance with the provisions of this section, and such rules and regulations as it may prescribe, to invest from time to time in the securities of the Corporation by purchasing (1) up to $1,000,000,000 of debentures issued by the Corporation, and (2) after the acquisition of such debentures, up to $2,629,000,000 of the series A preferred stock of the Corporation. **(b) Purposes and procedure for investment** (1) The Association is authorized to purchase debentures and, thereafter, series A preferred stock of the Corporation at such times and in such amounts as may be required and requested by the Corporation in accordance with the terms and conditions governing such purchases (which shall be prescribed by the Association), to provide— (A) for the modernization, rehabilitation and maintenance of rail properties of the Corporation; (B) for the acquisition of equipment and other capital needs; (C) for the refinancing of indebtedness which was incurred by the Corporation under [section 721 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section721&num=0&edition=prelim) or which was incurred under [section 725 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section725&num=0&edition=prelim) and assumed by the Corporation; or (D) working capital as contemplated by the final system plan. (2) Purchases of up to $1,000,000,000 of debentures and, thereafter, of up to $2,300,000,000 of series A preferred stock shall be made by the Association as required and requested by the Corporation, unless the Finance Committee makes an affirmative finding that— (A) the Corporation has failed in any material respect to comply with any covenants or undert

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Federal law — U.S. Code and appendices · legal_authorities

45 U.S.C. § 1105 — Judicial review

**(a) Special court; exclusive jurisdiction for civil actions** Notwithstanding any other provision of law, the special court shall have original and exclusive jurisdiction over any civil action— (1) for injunctive, declaratory, or other relief relating to the enforcement, operation, execution, or interpretation of any provision of or amendment made by this subtitle or part 2 of the Conrail Privatization Act [[45 U.S.C. 1311](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section1311&num=0&edition=prelim) et seq.], or administrative action taken thereunder to the extent such action is subject to judicial review; (2) challenging the constitutionality of any provision of or amendment made by this subtitle or part 2 of the Conrail Privatization Act [[45 U.S.C. 1311](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section1311&num=0&edition=prelim) et seq.]; (3) to obtain, inspect, copy, or review any document in the possession or control of the Secretary, Conrail, the United States Railway Association, or Amtrak that would be discoverable in litigation under any provision of or amendment made by this subtitle or part 2 of the Conrail Privatization Act [[45 U.S.C. 1311](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section1311&num=0&edition=prelim) et seq.]; or (4) seeking judgment upon any claim against the United States founded upon the Constitution and resulting from the operation of any provision of or amendment made by this subtitle or part 2 of the Conrail Privatization Act [[45 U.S.C. 1311](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section1311&num=0&edition=prelim) et seq.]. **(b) Appeal** An order or judgment of the United States District Court for the District of Columb

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Federal law — U.S. Code and appendices · legal_authorities

45 U.S.C. § 1311 — Preparation for public offering

Page 262 TITLE 45—RAILROADS § 1311 (4) the term ‘‘consolidated tangible net worth’’ means the market value of the com- mon equity of the Corporation as of the sale date, plus or minus the change from the sale date to the date of measurement in the excess, after making appropriate deductions for any minority interest in the net worth of subsidi- aries, of— (A) the assets of the Corporation and its subsidiaries (excluding intercompany items) which, in accordance with generally accept- ed accounting principles, are tangible assets, after deducting adequate reserves in each case where, in accordance with generally ac- cepted accounting principles, a reserve is proper, over (B) all liabilities of the Corporation and its subsidiaries (excluding intercompany items), taking into account inventory and securities on the basis of the cost or current market value, whichever is lower, and not taking into account patents, trademarks, trade names, copyrights, licenses, goodwill, treasury stock, or any write-up in the book value of any as- sets; (5) the term ‘‘Corporation’’ means the Con- solidated Rail Corporation; (6) the term ‘‘cumulative net income’’ means, for any period, the net income of the Corporation and its consolidated subsidiaries as determined in accordance with generally accepted accounting principles, before provi- sion for expenses (net of income tax effect) re- lated to— (A) amounts paid by the Corporation under section 4024(e), and comparable payments made to present and former employees of the Corporation not covered by such section; and (B) the aggregate value of any shares and cash distributed by the Corporation under section 4024(f); (7) the term ‘‘debt’’ means (A) indebtedness, whether or not represented by bonds, deben- tures, note

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