Privatization Initiative
HERE IS THE FEDERAL DIRECTIVE
For Privatization by State and Local Government
Of any infrastructure that was supported at any time by Federal Grant Funds
Note that after infrastructures have been "privatized", and funds are received in that sale or lease, that some of that money
MAY BE REQUIRED TO BE REFUNDED TO THE FEDERAL GOVERNMENT
Click here to Read the Executive Order signed by President George H. W. Bush (web format)
Get the executive order in PDF Format-Click Here
Title 3
Executive order 12803 of April 30, 1992
57 FR 19063 / May 4, 1992
web location:
http://www.channelingreality.com/Documents/Executive_Order_12803.pdf
Summary EXCERPT from Privatization initiative.
(to read the entire order, click here)
Privatization initiative:
To the extent permitted by law, the head of each executive department and agency shall undertake the following actions:
(a) Review those procedures affecting the management and disposition of federally financed infrastructure assets owned by State and local governments and modify those procedures to encourage appropriate privatization of such assets consistent: with this order
(b) Assist State and Local governments in their efforts to advance the objectives of this order; and
(c) Approve State and local governments’ requests to Privatize infrastructure assets...
... the transfer price shall be distributed, as paid, in the following manner:
(i) State and local governments shall first recoup in full the unadjusted dollar amount of their portion of total project costs (including any transaction and fix-up costs they incur) associated with the infrastructure assets involved;
(ii) if proceeds remain, then the Federal Government shall recoup in full the amount of Federal grant awards, associated with the infrastructure assets,
(iii) finally, the State and local governments shall keep any remaining proceeds,
