[Federal Register Volume 62, Number 249 (Tuesday, December 30, 1997)]
[Notices]
[Pages 67937-67938]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-33859]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Finance Docket No. 33517]
North American Railnet, Inc.; Continuance in Control Exemption--
Illinois Railnet, Inc.
North American Railnet, Inc. (Railnet) has filed a notice of
exemption to continue in control of the Illinois Railnet, Inc. (IR),
upon IR's becoming a Class III railroad.
The earliest the transaction could be consummated was December 9,
1997, the effective date of the exemption (7 days after the exemption
was filed).
This transaction is related to STB Finance Docket No. 33516,
Illinois Railnet, Inc.--Acquisition and Operation Exemption--The
Burlington Northern and Santa Fe Railway, wherein IR seeks to acquire
and operate a rail line from The Burlington Northern and Santa Fe
Railway.
Applicant controls one existing Class III railroad: Nebraska,
Kansas, & Colorado Railnet, Inc., operating in the States of Kansas,
Nebraska, and Colorado.
Applicant states that: (i) The rail lines to be operated by IR do
not connect with any railroad in the corporate family; (ii) the
transaction is not part of a series of anticipated transactions that
would connect IR's lines with any railroad in the corporate family; 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).
[[Page 67938]]
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. 33517, must be filed with the Surface Transportation
Board, Office of the Secretary, Case Control Unit, 1925 K Street, N.W.,
Washington, DC 20423-0001. In addition, a copy of each pleading must be
served on John D. Heffner, Rea, Cross & Auchincloss, 1920 N Street,
N.W., Suite 420, Washington, DC 20036.
Decided: December 16, 1997.
By the Board, David M. Konschnik, Director, Office of
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 97-33859 Filed 12-29-97; 8:45 am]
BILLING CODE 4915-00-P
