[Federal Register Volume 71, Number 246 (Friday, December 22, 2006)]
[Notices]
[Page 77095]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-21900]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 34967]


Iowa Pacific Holdings, LLC and Permian Basin Railways, Inc.--
Continuance in Control Exemption--Chicago Terminal Railroad

    Iowa Pacific Holdings, LLC (IPH) and its subsidiary Permian Basin 
Railways, Inc. (Permian), both noncarriers, have filed a verified 
notice of exemption to continue in control of Chicago Terminal Railroad 
(CTR), upon CTR's becoming a Class III rail carrier.
    IPH owns 100 percent of the common stock of Permian. IPH presently 
controls four other Class III short line railroads through Permian: the 
West Texas and Lubbock Railway Company, Inc., the Austin & Northwestern 
Railroad Company, Inc., d/b/a Texas New Mexico Railroad, the Arizona 
Eastern Railway Company, Inc., and the San Luis & Rio Grande Railroad 
Company, Inc. Otherwise, IPH does not directly or indirectly own any 
other railroad properties subject to Board jurisdiction.
    The transaction is scheduled to be consummated on or after December 
21, 2006.
    This transaction is related to the concurrently filed verified 
notice of exemption in STB Finance Docket No. 34968, Chicago Terminal 
Railroad--Acquisition and Operation Exemption--Soo Line Railroad 
Company d/b/a Canadian Pacific Railway, wherein noncarrier CTR seeks to 
purchase and operate a 4.5-mile line of railroad in Chicago, Cook 
County, IL, known as the C&E Line currently owned by the Soo Line 
Railroad Company d/b/a Canadian Pacific Railway.
    Applicant states that: (1) The railroads do not connect with each 
other or any railroad in their corporate family; (2) the continuance in 
control is not part of a series of anticipated transactions that would 
connect the railroads with each other or any railroad in their 
corporate family; and (3) 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 interest of its employees. Section 11326(c), however, does 
not provide for labor protection for transactions under section 11324 
and 11325 that involve only Class III rail carriers. Accordingly, the 
Board may not impose labor protective conditions here, because all of 
the carriers involved are Class III carriers.
    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.
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 34967, 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 John D. Heffner, 1920 N Street, 
NW., Suite 800, Washington, DC 20036.
    Board decisions and notices are available on our Web site at http://www.stb.dot.gov.

    Decided: December 14, 2006.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
 [FR Doc. E6-21900 Filed 12-21-06; 8:45 am]
BILLING CODE 4915-01-P