
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 45USC903]

 
                           TITLE 45--RAILROADS
 
              CHAPTER 18--MILWAUKEE RAILROAD RESTRUCTURING
 
Sec. 903. Sales and transfers

    (a) The Milwaukee Railroad may negotiate and enter into agreements 
to sell, to another rail carrier or any other person, all or any portion 
of its rail properties used in railroad operations as of October 15, 
1979. Such sale agreements may in no event become final and effective 
until the occurrence of an event described in section 920(b) of this 
title, or April 1, 1980, whichever first occurs. In taking action under 
this subsection, the Milwaukee Railroad may consult with the Secretary 
of Transportation.
    (b)(1) The Secretary of Transportation, under the authority of 
section 333 of title 49, may develop plans, participate in negotiations, 
and recommend to the trustee proposals for the sale or transfer of any 
rail properties of the Milwaukee Railroad which are used in rail 
operations as of October 15, 1979. In taking action under this 
paragraph, the Secretary shall give preference to financially 
responsible persons, including governmental entities, negotiating for 
the purchase of any lines with the intent of providing common carrier 
service.
    (2) Any sale or transfer proposal developed under paragraph (1) of 
this subsection shall be submitted to the bankruptcy court. Such a 
proposal may in no event become final or effective until the occurrence 
of an event described in section 920(b) of this title, or April 1, 1980, 
whichever first occurs.

(Pub. L. 96-101, Sec. 4, Nov. 4, 1979, 93 Stat. 737.)

                          Codification

    In subsec. (b)(1), ``section 333 of title 49'' was substituted for 
``section 5(a)-(e) of the Department of Transportation Act [49 U.S.C. 
1654(a)-(e)]'', on authority of Pub. L. 97-449, Sec. 6(b), Jan. 12, 
1983, 96 Stat. 2443, the first section of which enacted subtitle I 
(Sec. 101 et seq.) and chapter 31 (Sec. 3101 et seq.) of subtitle II of 
Title 49, Transportation.
