The grant authorized under paragraph (32) of subdivision (a) of Section 14556.40 shall be allocated as follows:
(a) (1) Two hundred fifty thousand dollars ($250,000) to defray the administrative costs of the North Coast Railroad Authority, allocated directly to the authority as directed by the commission at its first scheduled meeting immediately upon enactment of the Budget Act of 2000.
(2) Two hundred fifty thousand dollars ($250,000) to defray the administrative costs of the authority, allocated directly to the authority as directed by the commission within six months from the date of enactment of the Budget Act of 2000.
(3) Five hundred thousand dollars ($500,000) to defray the administrative costs of the authority, allocated to the authority as directed by the commission, within one year from the date of enactment of the Budget Act of 2000, if the commission determines that additional funding is needed by the authority as directed by the commission at its first scheduled meeting for administrative costs.
(b) Six hundred thousand dollars ($600,000) to fund completion of the authority’s rail line from Lombard to Willits, allocated directly to the authority immediately upon enactment of the Budget Act of 2000.
(c) One million dollars ($1,000,000) to fund completion of the authority’s rail line from Willits to Arcata, allocated to the authority as directed by the commission, within six months from the date of enactment of the Budget Act of 2000.
(d) Five million dollars ($5,000,000) to fund the upgrade of the authority’s rail line to Class II or III status, allocated to the authority as directed by the commission.
(e) Four million one hundred thousand dollars ($4,100,000) for environmental remediation projects, allocated to the authority as directed by the commission, within six months from the date of enactment of the Budget Act of 2000.
(f) Ten million dollars ($10,000,000) for the authority’s debt reduction, allocated to the authority as directed by the commission, within six months from the date of enactment of the Budget Act of 2000.
(g) One million eight hundred thousand dollars ($1,800,000) for use by the authority as local match funds, allocated to the authority as directed by the commission.
(h) Five million five hundred thousand dollars ($5,500,000) to fund repayment of the authority’s federal loan obligations, allocated to the authority as directed by the commission.
(i) Thirty-one million dollars ($31,000,000) for long-term stabilization projects, allocated to the authority as directed by the commission.
(Amended by Stats. 2000, Ch. 656, Sec. 6. Effective September 26, 2000.)