49 CFR 260..31(a)

Federal Railroad Administration, DOT

§ 260.35

mentioned in paragraph (a) of this section, the recipient shall, during the period in which any portion of the principal or interest in such obligation remains unpaid, maintain such facilities
in a manner consistent with sound engineering and maintenance practices
and in a condition that will permit the
level of use that existed upon completion of the acquisition, rehabilitation,
improvement or construction of such
facilities unless a waiver is granted in
accordance with § 260.25.
§ 260.23 Inspection and reporting.
(a) The facilities subject to the provisions of this subpart shall be inspected
at such regular intervals as the Administrator deems necessary to assure
compliance with the standards set
forth in § 260.21. Each recipient shall
permit representatives of the FRA to
enter upon its property to inspect and
examine such facilities at reasonable
times and in a reasonable manner.
Such representatives shall be permitted to use such testing devices as
the Administrator deems necessary to
insure that the maintenance standards
imposed by this subpart are being followed.
(b) Each recipient shall submit to the
Administrator
annually
financial
records and other documents detailing
the maintenance performed and the inspections
conducted
which
demonstrate that the recipient has complied with the standards in § 260.21.
§ 260.25 Waiver.
Any recipient of a guarantee may petition the Administrator in writing for
relief from any or all requirements imposed by this subpart. The Administrator may, for good cause shown,
waive or modify any requirements of
this part. Good cause may include, but
is not limited to, insufficient capital
resources of the recipient to comply
with these maintenance standards or
changes in the level of service required
for any facility subject to this subpart.
§ 260.27 Impact on other laws.
Standards issued under this subpart
shall not be construed to relieve the recipient of any obligation to comply
with any other Federal, State, or local
law or regulation.

§ 260.29

Penalties.

If the Administrator finds that a
guarantee recipient has violated the requirements of this subpart, such recipient will be subject to civil action for
injunction to cease activities which
violate this subpart and for any other
appropriate civil or criminal relief, including termination, suspension, and
punitive damages.

Subpart C—Procedures for Computing the Internal Rate of Return on Projects
§ 260.31

Applicability.

This subpart prescribes the procedures to be followed and the format to
be utilized in computing the IRR under
paragraph (a)(7)(i) of § 260.7 of subpart
A of this part.
§ 260.33

Definitions.

As used in this subpart—
(a) Investment means any substantial
non-recurring expenditure even if expensed for accounting purposes.
(b) IRR means the estimated internal
rate of return on a project for which an
application for financial assistance is
filed pursuant to this part.
(c) IRS means the Internal Revenue
Service.
§ 260.35 Procedures to be followed and
format to be utilized.
(a) A narrative discussion of the IRR
computation for the project consisting
of the following five parts shall be prepared and provided:
(1) A detailed description of the project.
This description must present the following: The objectives of the project;
what assets will be improved, rehabilitated, acquired or constructed; where
they will be located; and how they will
be used. It must also describe any
other work to be done as a part of the
project, and any operating changes, including retirement of assets, which will
accompany the investment. For these
purposes, the project shall be deemed
to include all expenditures (including
those for which no Federal assistance
is requested) necessary to carry out its
objectives.

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