[Federal Register Volume 72, Number 108 (Wednesday, June 6, 2007)]
[Notices]
[Page 31365]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-10773]



[[Page 31365]]

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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 35034]


Carolina Coastal Railway, Inc.--Lease and Operation Exemption--
Norfolk Southern Railway Company

    Carolina Coastal Railway, Inc. (CLNA), a Class III rail carrier, 
has filed a verified notice of exemption under 49 CFR 1150.41 to lease 
from Norfolk Southern Railway Company (NSR) and to operate 
approximately 133.4 miles of rail line known as the Raleigh-Plymouth 
line extending between (1) Milepost NS-132.0 at Chocowinity, Beaufort 
County, NC, and milepost NS-228.0 at Raleigh, Wake County, NC, and (2) 
milepost NS-127.4 at Phosphate Junction, Beaufort County, NC, and 
milepost NS-90.0 at the end of the track at Plymouth, Washington 
County, NC, including the right-of-way and adjacent real property 
described as The Pocket Track and the Old Engine/Shop Tracks located in 
Chocowinity Yard, and the remaining former East Carolina Railway 
trackage (now industrial spurs) in Farmville, NC. As part of the 
transaction, CLNA also will acquire 8.6 miles of incidental overhead 
trackage rights within (a) Raleigh Yard, between milepost NS-228.0 and 
milepost NS-232.0 for interchange purposes, and (b) Chocowinity Yard, 
between milepost NS-127.4 and milepost NS-132.0 for interchange 
purposes and connectivity of its lines.
    CLNA certifies that its projected annual revenues as a result of 
the transaction will not exceed those that would qualify it as a Class 
III rail carrier and will not exceed $5 million.
    The transaction is expected to be consummated on or after June 21, 
2007.\1\
    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 effectiveness of the 
exemption. Petitions for stay must be filed no later than June 14, 2007 
(at least 7 days before the exemption becomes effective).
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    \1\ The lease agreement provides for a term of 20 years from 
date of the agreement with a renewal term of 10 years. The lease may 
be terminated by either party prior to the end of the term in 
accordance with the lease provisions. The parties must seek 
appropriate Board authority to terminate these provisions.
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    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 35034, must be filed with the Surface Transportation 
Board, 395 E Street, SW., Washington, DC 20423-0001. In addition, a 
copy of each pleading must be served on John D. Heffner, John D. 
Heffner, PLLC, 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: May 30, 2007.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary. 3
 [FR Doc. E7-10773 Filed 6-5-07; 8:45 am]
BILLING CODE 4915-01-P