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B-175155 1 (1975-06-11)

handle is hein.gao/gaobadcie0001 and id is 1 raw text is: 

                            THE  COMPTROL. ER GENERAL
oEcIsION              N     OF   THE UNITED STATES
                            WASHINGTON. 0. C. 20548
                    t N ITEV4


FILE:                              DATE:         11975
         B-175155JU
MATTER OF:
                 Investment of grant funds provided to the National
                 Railroad Passenger Corporation (Amtrak)
DIGEST:
            Grant funds paid to National Railroad Passenger
            Corporation (Amtrak) pursuant to section 601 of
            Rail Passenger Service Act of 1970, as amended,
            45 U.S.C. § 601 may be used to meet current opera-
            ting expenses while funds from other sources are
            currently and temporarily invested or may themselves
            be invested when not otherwise currently needed.
            Moreover, Amtrak may retain and use for authorized
            corporate purposes interest earned on such invest-.
            ments.  See B-175155(2), April 22, 1975.



       This decision to the Secretary of Transportation is in response
  to a request for an opinion with regard to the investment of Federal
  graut Lunds and the disposition of interest earned thereon by the
  National Railroad Passenger Corporation (Amtrak). In a letter from
  the Assistant Secretary of Transportation, Mr. William S. Beffelfinger,
  the decision of this Office is requested with respect to the following
  questions:

           1.  May AMTRAK draw-down Federal assistance for
           meeting current operating requirements while funds
           from any source available for such purpose are
           currently and temporarily invested?

           2.  As a mixed Government corporation, may AMTRAK
           temporarily invest monies provided through Federal
           assistance programs?

           3.  May interest earned on investments of funds made
           available through Federal assistance programs be used
           by AMTRAK for authorized corporate purposes?

       We refer to our decision, B-175155(2) dated April 22,
  1975, which concerned other uses of these same grant


C.,

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