[Federal Register Volume 64, Number 37 (Thursday, February 25, 1999)]
[Notices]
[Pages 9371-9372]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-4714]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board
[STB Finance Docket No. 33706]


Illinois Railnet, Inc.--Acquisition and Operation Exemption--The 
Burlington Northern and Santa Fe Railway Company

    On January 8, 1999, Illinois Railnet, Inc. (IR), a Class III rail 
carrier,1 filed a verified notice of exemption under 49 CFR 
1150.41 to acquire and operate approximately 23.5-miles of rail line 
that is currently owned and operated by The Burlington Northern and 
Santa Fe Railway Company (BNSF). The line, known as the ``Rockford 
Subdivision,'' runs between milepost 0.29 north of Flag Center, IL, and 
milepost 23.79 at Rockford, IL.2
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    \1\ IR certifies that its annual revenues, including those 
expected to be derived from the line that is the subject of this 
notice, will not exceed $5 million.
    \2\ Pursuant to a pre-existing agreement with BNSF, I&M Rail 
Link (IMRL) possesses trackage rights over a portion of the line 
between milepost 11.69 at Davis Junction, IL, and milepost 23.79 at 
Rockford, IL. As a result of the instant transaction, IR will assume 
BNSF's rights and obligations under its trackage rights agreement 
with IMRL, and IMRL will retain its trackage rights.
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    The transaction was scheduled to be consummated on or after January 
15, 1999.
    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 does not automatically stay the 
transaction.3
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    \3\ By decision served on January 14, 1999, the Board denied a 
petition to stay the effectiveness of the notice in this proceeding.
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    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 33706, must be filed with the Surface Transportation 
Board, Office of the Secretary, Case Control Unit, 1925 K Street, NW, 
Washington, DC 20423-0001. In addition, one copy of each pleading must 
be served on counsel for IR: Robert A. Wimbish, REA, CROSS & 
AUCHINCLOSS, Suite 420, 1920 N Street, NW, Washington, DC 20036.
    Board decisions and notices are available on our website at 
``WWW.STB.DOT.GOV.''

    Decided: February 18, 1999.


[[Page 9372]]


    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 99-4714 Filed 2-24-99; 8:45 am]
BILLING CODE 4915-00-P