[Code of Federal Regulations]
[Title 49, Volume 4]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 49CFR250.2]

[Page 728-730]
 
                        TITLE 49--TRANSPORTATION
 
       CHAPTER II--FEDERAL RAILROAD ADMINISTRATION, DEPARTMENT OF 
                             TRANSPORTATION
 
PART 250_GUARANTEE OF CERTIFICATES OF TRUSTEES OF RAILROADS IN 
REORGANIZATION--Table of Contents
 
Sec. 250.2  Required exhibits.

    There shall be filed with and made a part of each application and 
copy thereof the following exhibits, except that exhibits filed with the 
Administrator pursuant to some other statutory provision or regulation 
which are in the same format as the following exhibits may be 
incorporated in and made part of the application filed under this part 
by reference. While the application is pending, when actual data become 
available in place of the estimated or forecasted data required in the 
exhibits under this part, such actual data must be reported promptly to 
the Administrator in the form required in the appropriate exhibit.
    (a) The following exhibits are required concerning the Trustee and 
the carrier:
    (1) As Exhibit 1, copy of duly certified order of the court, or 
instrument of appointment, appointing trustees of the carrier.
    (2) As Exhibit 2, a certified copy of the order(s) of the 
reorganization court having jurisdiction of applicant authorizing (i) 
the filing of the application with the Administrator for a guarantee of 
the Trustee's certificate; (ii) filing of the application with the 
Interstate Commerce Commission for authority to issue a Trustee's 
certificate; (iii) such pledge of security for the loan and the 
guarantee as the applicant proposes in connection with Exhibit 3; and 
(iv) compliance by the Trustee with conditions to the guarantee imposed 
by law and the Administrator.
    (3) As Exhibit 3, full and complete statement, together with 
supporting evidence, that the probable value of the assets of the 
railroad in the event of liquidation provides reasonable protection to 
the United States.
    (4) As Exhibit 4, a map of the carrier's existing railroad.
    (5) As Exhibit 5, statement showing miles of line owned; miles 
operated; number of units of locomotives, freight cars, and passenger 
cars owned and leased; principal commodities carried; and identification 
of the ten most important industries served.
    (6) As Exhibit 6, statement as to whether any railroad affiliated 
with the carrier has applied for or received any Federal assistance 
since 1970.
    (7) As Exhibit 7, statement showing total dividends, if any, 
declared and total dividends paid for each of the last 5 calendar years 
and for each month of the current year to latest available date.
    (8) As Exhibit 8, a copy of applicant's most recent year-end general 
balance sheet certified by applicant's independent public accountants, 
if available, and a copy of applicant's most recent unaudited general 
balance sheet as of a date no less recent than the end of the third 
month preceding the date of the filing of the application. The unaudited 
balance sheet shall be presented in account form and detail as required 
in Schedule 200 of the Commission's annual report R-1 or R-2, as 
appropriate, together with the following schedules (where changes in 
accounts from the end of the prior year to date of the application have 
not been significant, copies of the appropriate schedules in the prior 
year's R-1 or R-2 with marginal notations listing the changes may be 
substituted):
    (i) Particulars of Account 704, Loans and Notes Receivable, in form 
and detail as required in Schedule 201 of annual report R-1 for the 
Class I railroads, and in similar form for the Class II railroads except 
that for Class II railroads, loans and notes receivable that are each 
less than $25,000 may be combined into a single amount;
    (ii) Particulars of investment in affiliated companies and other 
investment in form and detail required in Schedules 205 and 206 of 
annual report R-1, or Schedules 1001 and 1002 of annual report R-2, as 
appropriate;
    (iii) Particulars of balances in Accounts 741, Other Assets, and 
743, Other Deferred Changes, in form and detail required in Schedule 216 
of annual report R-1 or Schedule 1703 of annual report R-2, as 
appropriate;

[[Page 729]]

    (iv) Particulars of loans and notes payable in form and detail 
required in Schedule 223 of annual report R-1, or Schedule 1701 of 
annual report R-2, as appropriate, as well as information as to bank 
loans, including the name of the bank, date and amount of the original 
loan, current balance, maturities, rate of interest, and security, if 
any;
    (v) Particulars of long-term debt in form and detail required in 
Schedules 218 and 219 of annual report R-1 or Schedules 670, 695, 901, 
902 and 1702 of annual report R-2, as appropriate, together with a brief 
statement concerning each mortgage, pledge, and other lien, indicating 
the property or securities encumbered, the mortgage limit per mile, if 
any, and particulars as to priority;
    (vi) Particulars of balance in Account 784. Other Deferred Credits, 
in form and detail required in Schedule 225 of annual report R-1 or 
Schedule 1704 of annual report R-2, as appropriate; and
    (vii) Particulars as to capital stock in form and detail required in 
Schedules 228, 229, and 230 of annual report R-1 or Schedule 690 in 
annual report R-2, as appropriate.
    (9) As Exhibit 9, a copy of carrier applicant's report to its 
stockholders or report of the trustee for each of the 3 years preceding 
the year in which the application is filed.
    (10) As Exhibit 10, applicant's most recent annual income statement 
certified by applicant's independent public accounts if available, and a 
spread sheet showing unaudited monthly and year-to-date income statement 
data for the calendar year in which the application is filed in account 
form similar to that required in column (a) of Schedule 300 of annual 
report R-1 or R-2 as appropriate. For those months preceding and ending 
upon the date of the unaudited balance sheet presented in Exhibit 8, the 
income statement shall be reported on an actual basis and so noted. For 
those months between the dates of the unaudited balance sheet and the 
filing of the application, the income statement data shall be reported 
on an estimated basis and so noted and shall be submitted in conjunction 
with corresponding estimated month-end balance sheets. For those months 
between the date of the application and the end of the year income 
statement data shall be presented on a forecasted basis and so noted and 
shall be submitted in conjunction with a forecasted balance sheet as at 
the year end.
    (11) As Exhibit 11, spread sheets showing for each of the four years 
subsequent to the year in which the application is filed, both before 
and after giving effect to the proceeds of the assistance required in 
the application:
    (i) Forecasted annual income statement data in account form and 
detail similar to that required in column (a) of Schedule 300 of annual 
report R-1 or R-2 as appropriate, including the subaccounts comprising 
line 2 (railway operating expenses), as specified by lines 64, 92, 105, 
159, 166, and 180 of Schedule 320; and
    (ii) Forecasted year-end balance sheets in account form and detail 
similar to that required in Schedule 200 of annual report R-1 or R-2, as 
appropriate. These spread sheets shall be accompanied by a statement 
setting forth the bases for such forecasts.
    (12) As Exhibit 12, a spread sheet showing changes in financial 
position for the year in which the application is filed in account form 
and detail as required in Schedule 309 of annual report R-1 and R-2 as 
appropriate as follows:
    (i) For that period ending on the date of the unaudited balance 
sheet in Exhibit C, based upon actual data; and
    (ii) For that period from the balance sheet date to the end of the 
year, based upon estimated and forecasted data.
    (13) As Exhibit 13, a spread sheet showing forecasted changes in 
financial position for each of the four calendar years subsequent to the 
year in which the application is filed, both before and after giving 
effect to any funds requested in the application and including a 
statement showing the bases for such estimates, in account form and 
detail as required in Schedule 309 of the annual Report R-1 for Class I 
railroads in similar form and detail for Class II railroads.
    (14) As Exhibit 14, a statement showing actual cash balance at the 
beginning of each month and the actual cash receipts and disbursements 
during each month of the current year to the date of the latest balance 
sheet furnished as

[[Page 730]]

Exhibit 8, together with a monthly forecast (both before and after 
giving effect to use of proceeds from the proposed loan) for the balance 
of the current year and the year subsequent thereto.
    (15) As Exhibit 15, a general statement setting forth the facts as 
to estimated prospective earnings and other funds upon which applicant 
relies to repay the loan.
    (b) The following exhibits are required as to the transaction.
    (1) As Exhibit 16, copies of correspondence from all, and not less 
than three, lending institutions or security underwriters to which 
application for the financing has been made, evidencing that they have 
declined the financing unless guaranteed by the Secretary or specifying 
the terms upon which they will undertake the financing without such 
guarantee.
    (2) As Exhibit 17, specimens, or forms where specimens are not 
available, of all securities to be pledged or otherwise issued in 
connection with the proposed loan; and in case of mortgage, a copy of 
the mortgage or indenture.
    (3) As Exhibit 18, copies of the loan agreement entered into, or to 
be entered into, between the Trustee and lender, and of any agreements 
or instruments executed or be executed in connection with the proposed 
loan.

[44 FR 23852, Apr. 23, 1979]