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Federal Transit Administration
Financial Management Oversight Seminar 2005

Page 196 - Requirements for Financial Capacity

Sections 5309 goes further with respect to requirements for funding of New Starts projects:

"The Secretary of Transportation may approve a grant or loan . . . only if... the proposed project is ... Supported by an acceptable degree of local financial commitment, including evidence of stable and dependable financing sources to construct, maintain, and operate the system or extension."



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2005 - Federal Transit Administration