[Federal Register Volume 67, Number 210 (Wednesday, October 30, 2002)]
[Notices]
[Pages 66195-66196]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-27585]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 34257]


Wilmington Terminal Railroad, L.P.--Acquisition and Operation 
Exemption--North Carolina Ports Railway Commission and North Carolina 
State Ports Authority

    Wilmington Terminal Railroad, L.P. (WTR), a Class III rail carrier, 
has filed a notice of exemption under 49 CFR 1150.41 to acquire a 
permanent and exclusive easement over approximately 18 miles of rail 
line from the North Carolina Ports Railway Commission (PRC), and to 
operate over those lines pursuant to an operating agreement with the 
North Carolina State Ports Authority (SPA).\1\ The subject lines are 
located in Wilmington, New Hanover County, NC, and include the 
following: (1) The Front Street Spur, from the east line of Third 
Street at CSX Rail Valuation Station 91+37.3 and extending generally in 
a northerly direction, a distance of approximately 0.66 miles, to CSX 
Rail Valuation Station 56+39; (2) the New River Spur, from the CSX Rail 
Valuation Station 0+00, (also known as Rail Valuation Station 86+20) on 
the Front Street Spur at the west line of Second Street and extending 
generally in a southerly direction a distance of approximately 3.5 
miles, to CSX Rail Valuation Station 185+00; and (3) the line from the 
north entrance to the Port of Wilmington at Transit Road, near its 
intersection with Burnett Blvd., to the south entrance to the Port, at 
River Road near its intersection with Shipyard Blvd., through and 
including the classification yards and including all of the railroad 
tracks on the Port, whether denominated as spurs, side tracks, 
industrial tracks, or otherwise (but excluding crane rails).\2\ WTR 
currently operates the subject lines.
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    \1\ In a related matter, SPA filed a notice of exemption in STB 
Finance Docket No. 34258, North Carolina State Port Authority--
Acquisition Exemption--North Carolina Ports Railway Commission, 
wherein SPA seeks to acquire the right-of-way, trackage, and other 
rail assets of these rail lines. SPA also filed a motion to dismiss 
that notice on jurisdictional grounds.
    \2\ Our predecessor, the Interstate Commerce Commission, 
exempted PRC from regulation under the Interstate Commerce Act, but 
determined that PRC had a residual common carrier obligation over 
these lines. See North Carolina Ports Railway Commission--Petition 
for Declaratory Order or Prospective Abandonment Exemption, Finance 
Docket No. 31248 (ICC served Sept. 30, 1988).
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    WTR states that the impetus for this transaction is new legislation 
enacted by the State of North Carolina legislature, SB 1115, ratified 
September 20, 2002. This legislation, among other things, requires the 
transfer of PRC's assets and liabilities, except its common carrier 
obligation, to SPA, and abolishes PRC.
    WTR certifies that its projected revenues will not exceed those 
that would qualify it as a Class III rail carrier and that the annual 
revenues are not projected to exceed $5 million.
    WTR indicates that it expects to consummate the transaction by 
November 20, 2002, but not before the October 8, 2002 effective date of 
the exemption (7 days after the exemption was filed).
    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 does not automatically stay the transaction.
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 34257, must be filed with the Surface Transportation 
Board, 1925 K Street NW., Washington, DC 20423-0001. In addition, one 
copy of each pleading must be served on Donald G. Avery, Slover & 
Loftus, 1224 Seventeenth Street NW., Washington, DC 20036.
    Board decisions and notices are available on our Web site at http://www.stb.dot.gov.

    Decided: October 24, 2002.


[[Page 66196]]


    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 02-27585 Filed 10-29-02; 8:45 am]
BILLING CODE 4915-00-P