101 STAT. 224
PUBLIC LAW 100-17—APR. 2, 1987
"(A) the replacement, rehabilitation, and purchase of buses and related equipment and the construction of busrelated facilities, 'J4.'f. "(B) rail modernization, and "(C) construction of new fixed guideway systems and extensions to fixed guideway systems; and lo t x "(2) a proposal of the allocation of the funds to be made available to finance grants and loans for the construction of new fixed guideway systems and extensions to fixed guideway systems among applicants for such assistance.".
Grants. Loans.
SEC. 305. ALLOCATION OF SECTION 3 FUNDS. 49 USC app. 1602.
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Section 3 of the Urban Mass Transportation Act of 1964 is amended by adding at the end thereof the following: "(k) ALLOCATIONS.—
Grants. Loans.
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"(1) IN GENERAL.—Of the amounts available for grants and f loans under this section for fiscal years 1987, 1988, 1989, 1990,
and 1991— "(A) 40 percent shall be available for rail modernization; "(B) 40 percent shall be available for construction of new fixed guideway systems and extensions to fixed guideway systems; "(C) 10 percent shall be available for the replacement, fens rehabilitation, and purchase of buses and related equipment and the construction of bus-related facilities; and "(D) 10 percent shall be available for the purposes de• scribed in subparagraphs (A) through (C), as determined by ' the Secretary. "(2) ELIGIBILITY.—(A) The receipt of, or application for, assistance for a project described in subparagraph (A), (B), or (C) of paragraph (1) shall not preclude eligibility for assistance for a project described in any other such subparagraph. "(B) Prior to the expiration of the 2-year period beginning on the date of enactment of this subsection, the Secretary may not change program administration regarding eligibility for assistance for rail modernization.". SEC. 306. ADVANCE CONSTRUCTION.
(a) DISCRETIONARY GRANT PROGRAM.—Section 3 of the Urban Mass Transportation Act of 1964 is amended by adding at the end thereof the following new subsection:
Supra.
"(1) ADVANCE CONSTRUCTION.— "(1) APPROVED PROJECT.—Upon application of a State or local
public body which carries out a project described in this section or a substitute transit project described in section 103(e)(4) of title 23, United States Code, or portion of such a project without the aid of Federal funds in accordance with all procedures and requirements applicable to such a project and upon the Secretary's approval of such application, the Secretary may pay to such applicant the Federal share of the net project costs if, prior to carrying out such project or portion, the Secretary approves .. the plans and specifications therefor in the same manner as other projects under this section or such section 103(e)(4), as the case maybe. aHBoJ
"(2) BOND INTEREST.— 10 1 ^, "(A) ELIGIBLE COST.—Subject to the provisions of this
paragraph, the cost of carrying out a project or portion
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