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B-222323 1 (1986-04-24)

handle is hein.gao/gaobadmhf0001 and id is 1 raw text is: B-222323 THE COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON. 0. C. 20548 DATE: April 24, 1986 MATTER OF: Railroad Rehabilitation and Improvement Fund-- Authority to Issue Fund Anticipation Notes DIGEST: 1. Fiscal year 1986 funds appropriated to the Treasury Secretary to purchase Fund Anticipation Notes used to finance the Department of Trans- portation's Redeemable Preference Share Program, are available to buy Notes and thus continue the rail improvement projects financed under the Program in 1986, despite the expiration of the Program's organic authority on September 30, 1985. A specific appropriation for an expired program provides a sufficient legal basis to continue that program, absent a contrary expres- sion of congressional intent. 55 Comp. Gen. 289 (1975). 2. Unobligated balances in the Rail Fund lapsed under the provisions of the 1984 DOT appropri- ation act, but obligated balances remain avail- able to liquidate outstanding obligations. The General Counsel of the Department of Transportation (DOT) requested our legal opinion on the Secretary of Trans- portation's authority to issue and sell Fund Anticipation Notes (Notes) to finance the Redeemable Preference Share Pro- gram (Program) in fiscal year 1986. The question arises in the context of an apparent conflict between the Program's enabling act, which expired on September 30, 1985, and the fiscal year 1986 DOT Appropriations Act, which provided new 1986 funds for the purchase of Notes and authority to use the proceeds of the sale of Notes for the Program. For the reasons explained below, we conclude that the Secretary is authorized to issue and sell Notes, despite the expiration of the Program's organic authority. We also considered a related issue on the status of prior year funds and conclude that obligated balances remain available to carry out the projects for which they were originally obligated. The funds in question were proposed for rescission in the Special M4essage transmitted to the Congress on February 5, 1986. Since the Congress did not approve the proposed rescission within 45 days, the funds must now be released. 2 U.S.C. S 683 (1982). ©5)-s OECISION FILE:

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