|SURFACE TRANSPORTATION BOARD DECISION DOCUMENT|
|R. J. CORMAN RAILROAD PROPERTY, LLC—ACQUISITION EXEMPTION—NC RAILROAD, INC.|
|Notice Of Exemption|
|Director Of Proceedings|
|PROVIDED NOTICE THAT R.J. CORMAN RAILROAD PROPERTY, LLC FILED A NOTICE OF EXEMPTION TO ACQUIRE BY PURCHASE FROM NC RAILROAD, INC. APPROXIMATELY 42 ROUTE MILES OF RAIL LINE IN SCOTT, CAMPBELL, AND ANDERSON COUNTIES, TN.|
| 9 KB|
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|Full Text of Decision|
40712 SERVICE DATE – APRIL 9, 2010
DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Finance Docket No. 35363]
R. J. Corman Railroad Property, LLC—Acquisition Exemption—NC Railroad, Inc.
R. J. Corman Railroad Property, LLC (RJC Railroad Property), a Class III rail carrier, has filed a verified notice of exemption under 49 CFR 1150.41 to acquire by purchase from NC Railroad, Inc. (NCRL), approximately 42 route miles of rail line extending from milepost 0.144 at or near Oneida to milepost 42.0 at or near Devonia, in Scott, Campbell, and Anderson Counties, TN.
This transaction is related to the concurrently filed notice of exemption in STB Finance Docket No. 35364, R. J. Corman Railroad Company/Bardstown Line—Lease and Operation Exemption—R. J. Corman Railroad Property, LLC, wherein R. J. Corman Railroad Company/Bardstown Line (RJC Railroad Company) seeks to lease from RJC Railroad Property and to operate the line that RJC Railroad Property is purchasing from NCRL.
Based on projected revenues for the line, RJC Railroad Property expects to remain a Class III rail carrier after consummation of the proposed transaction. RJC Railroad Property certifies that its projected revenues as a result of this transaction will not result in the creation of a Class II or Class I rail carrier. In addition, RJC Railroad Property provides that its projected annual revenues will not exceed $5 million.
RJC Railroad Property states that it intends to consummate the transaction on or before April 26, 2010, and that RJC Railroad Company will commence operations on behalf of RJC Railroad Property on or about the same day. The earliest this transaction may be consummated is April 25, 2010, the effective date of the exemption (30 days after the exemption was filed).
If the verified 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. Petitions for stay must be filed no later than April 16, 2010 (at least 7 days before the exemption becomes effective).
original and 10 copies of all pleadings, referring to STB Finance Docket No. 35363,
must be filed with the Surface Transportation Board, 395 E Street, S.W.,
Board decisions and notices are available on our website at “WWW.STB.DOT.GOV.”
Decided: April 2, 2010.
By the Board, Rachel D. Campbell, Director, Office of Proceedings.