[Federal Register Volume 63, Number 222 (Wednesday, November 18, 1998)]
[Notices]
[Page 64141]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-30652]
[[Page 64141]]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Finance Docket No. 33674]
Livonia, Avon & Lakeville Railroad Corporation--Acquisition of
Control Exemption--Ontario Central Railroad Corporation
Livonia, Avon & Lakeville Railroad Corporation (LAL), a Class III
rail carrier, has filed a verified notice of exemption to acquire a
controlling interest, through stock purchase, of Ontario Central
Railroad Corporation (ONCT), a Class III rail carrier, which operates
14 miles of rail line between West Victor and Shortsville,
NY.1
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\1\ See Ontario Central Railroad Corporation--Operations--
Between Shortsville and Victor, NY, Finance Docket No. 29761 (ICC
served Nov. 3, 1981) (Modified Rail Certificate), and Certificate of
Designated Operator-Ontario Central Railroad Corp., D-OP 33
(U.S.R.A. Line No. 98/1022), Cancellation of Certificate of
Designate Operation--Consolidated Rail Corporation, D-OP 6 (U.S.R.A.
Line No. 98/1022) (ICC served Sept. 28, 1979).
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LAL owns and operates approximately 30 miles of rail line between
Genessee Junction yard in Chili, NY, immediately south of Rochester,
and Lakeville, NY. LAL also separately operates approximately 35 miles
of track between Hammondsport, Bath and Wayland, NY, which is owned by
the Steuben County Industrial Development Authority. 2
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\2\ See Livonia, Avon & Lakeville Railroad Corp.--Acquisition
and Operation Exemption--Steuben County Industrial Development
Agency, STB Finance Docket No. 32941 (STB served May 22, 1996).
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Under the terms of an agreement with ONCT, LAL will acquire 3,000
shares of ONCT's treasury stock and 8,900 shares of ONCT's stock, which
is currently authorized but unissued.
The earliest the transaction could be consummated was October 30,
1998, the effective date of the exemption (7 days after the exemption
was filed).
LAL states that: (i) the railroads do not connect with each other;
(ii) the transaction is not part of a series of anticipated
transactions that would connect the railroads with each other; and
(iii) the transaction does not involve a Class I carrier. Therefore,
the transaction is exempt from the prior approval requirements of 49
U.S.C. 11323. See 49 CFR 1180.2(d)(2).
Under 49 U.S.C. 10502(g), the Board may not use its exemption
authority to relieve a rail carrier of its statutory obligation to
protect the interests of its employees. Section 11326(c), however, does
not provide for labor protection for transactions under sections 11324
and 11325 that involve only Class III rail carriers. Because this
transaction involves Class III rail carriers only, the Board, under the
statute, may not impose labor protective conditions for this
transaction.
If the notice contains false or misleading information, the
exemption is void ab initio. Petitions to revoke the exemption under 49
U.S.C. 10502(d) may be filed at any time. The filing of a petition to
revoke will not automatically stay the transaction.
An original and 10 copies of all pleadings, referring to STB
Finance Docket No. 33674, must be filed with the Office of the
Secretary, Case Control Unit, Surface Transportation Board, 1925 K
Street, N.W., Washington, DC 20423-0001. In addition, a copy of all
pleadings must be served on Kevin M. Sheys, Oppenheimer Wolff Donnelly
& Bayh LLP, 1350 Eye St., N.W., Suite 200, Washington, DC 20005.
Board decisions and notices are available on our website at
``WWW.STB.DOT.GOV.''
Decided: November 10, 1998.
By the Board, David M. Konschnik, Director, Office of
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 98-30652 Filed 11-17-98; 8:45 am]
BILLING CODE 4915-00-P
