[Code of Federal Regulations]

[Title 49, Volume 4]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 49CFR250.2]



[Page 796-798]

 

                        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 797]]



    (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 798]]



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]