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PAD-81-32 1 (1981-03-03)

handle is hein.gao/gaobabbqe0001 and id is 1 raw text is: REPORT BY THE Comptroller General OF THE UNITED STATES The Federal Investment In Amtrak's Assets Should Be Secured 114630 As of fiscal year 1980, the Federal Govern- ment had given Amtrak $3.2 billion for its capital program. Only $2.5 billion of this amount is subject to Federal security arrange- ments; that is, this part of the Government's investment would be protected should Amtrak be liquidated. Because the Government has funded Amtrak's capital assets, the Govern- ment's investment should be fully secured. I GAO recommends that legislation authorizing Amtrak's capital funding be amended so that any future Federal funding would be made available only after Amtrak and the Secretary of Transportation enter security agreements. 'These agreements would create a Federal claim and secure, in favor of the United States, all assets acquired in the past and future with ;Federal capital funding. PAD-81-32 MARCH 3, 1981 (- , ) L\

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