[Federal Register Volume 69, Number 244 (Tuesday, December 21, 2004)]
[Notices]
[Page 76522]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-27858]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 34632]


The Ohio and Pennsylvania Railroad--Acquisition and Operation 
Exemption--Rail Lines of Columbiana County Port Authority in Mahoning 
and Columbiana Counties, OH, and Beaver County, PA

    The Ohio and Pennsylvania Railroad (O&P), a Class III rail carrier, 
has filed a notice of exemption under 49 CFR 1150.41 to acquire (by 
lease) approximately 36 miles of rail line owned by the Columbiana 
County Port Authority (CCPA), between milepost 0.0 at or near 
Youngstown, OH, and milepost 35.7 at or near Darlington, PA.
    The Central Columbiana and Pennsylvania Railway Company (CCPR) 
currently serves as the line's operator pursuant to a track lease and 
operating agreement with CCPA. On June 14, 2004, CCPR filed for 
bankruptcy protection before the U.S. Bankruptcy Court for the Eastern 
District of Arkansas, Little Rock Division (Case No. 4:04-bk-16887 M, 
Chapter 11) (bankruptcy court). Pursuant to an agreement between CCPA, 
O&P, and the bankruptcy trustee for CCPR, O&P will acquire and operate 
the line by assuming CCPR's rights, duties, and obligations under 
CCPR's track lease and operating agreement with CCPA (including CCPR's 
option to purchase the line in March 2006). The agreement is pending 
final approval from the bankruptcy court, which O&P expects will be 
granted before December 31, 2004.\1\
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    \1\ To ensure the continued availability of rail service to 
shippers on the line, the bankruptcy court, by a December 3, 2004 
order, has approved an interim agreement between O&P and CCPR's 
bankruptcy trustee, which would allow O&P to assume immediate 
operational control of the line.
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    The transaction is scheduled to be consummated on or after December 
15, 2004. O&P certifies that its projected revenues as a result of the 
transaction will not exceed those that would qualify it as a Class III 
rail carrier.
    This transaction is related to STB Docket No. AB-556 (Sub-No. 2X), 
Railroad Ventures, Inc.--Abanondment Exemption--Between Youngstown, OH, 
and Darlington, PA, in Mahoning and Columbiana Counties, OH, and Beaver 
County, PA, which involves the purchase of the line by CCPA pursuant to 
the offer of financial assistance provisions of 49 U.S.C. 10904 and 49 
CFR 1152.27.
    If this 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. 34632, must be filed with the Surface Transportation 
Board, 1925 K Street, NW., Washington, DC 20423-0001. In addition, a 
copy of each pleading must be served on Kelvin J. Dowd, 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: December 14, 2004.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 04-27858 Filed 12-20-04; 8:45 am]
BILLING CODE 4915-01-P