[Code of Federal Regulations]
[Title 49, Volume 7]
[Revised as of October 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 49CFR639.3]

[Page 56]
 
                        TITLE 49--TRANSPORTATION
 
CHAPTER VI--FEDERAL TRANSIT ADMINISTRATION, DEPARTMENT OF TRANSPORTATION
 
PART 639_CAPITAL LEASES--Table of Contents
 
                            Subpart A_General
 
Sec.  639.3  Purpose of this part.

    This rule implements section 3003 of the Transportation Equity Act 
for the 21st Century (Pub. L. 105-178). Section 3003 amended section 
5302 of Chapter 53 of Title 49 of the United States Code to allow a 
recipient to use capital funds to finance the leasing of facilities and 
equipment on the condition that the leasing arrangements are more cost 
effective than purchase or construction.

[63 FR 68367, Dec. 10, 1998]