|SURFACE TRANSPORTATION BOARD DECISION DOCUMENT|
|NORTH CAROLINA & ATLANTIC RAILROAD CO., INC.--LEASE AND OPERATION EXEMPTION--NORTH CAROLINA DEPARTMENT OF TRANSPORTATION|
|Notice Of Exemption|
|Director Of Proceedings|
|PROVIDED NOTICE THAT NORTH CAROLINA & ATLANTIC RAILROAD CO., INC., A NONCARRIER, HAS FILED TO LEASE FROM THE NORTH CAROLINA DEPARTMENT OF TRANSPORTATION AND TO OPERATE, APPROXIMATELY 5.7 MILES OF RAIL LINE, REFERRED TO AS THE GLOBAL TRANSPARK RAIL CORRIDOR, BETWEEN MILEPOST GTP-0.0 AND MILEPOST GTP-5.7 AT KINSTON, IN LENOIR COUNTY, N.C., PURSUANT TO AN EXECUTED LEASE AND OPERATING AGREEMENT.|
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|Full Text of Decision|
45099 SERVICE DATE – MARCH 25, 2016
SURFACE TRANSPORTATION BOARD
[Docket No. FD 36008
North Carolina & Atlantic Railroad Co., Inc.—Lease and Operation Exemption—North Carolina Department of Transportation
North Carolina & Atlantic Railroad Co., Inc. (NCAR), a noncarrier, has filed a verified notice of exemption under 49 C.F.R. § 1150.31 to lease from the North Carolina Department of Transportation (NCDOT), and to operate, approximately 5.7 miles of rail line, referred to as the Global Transpark rail corridor, between milepost GTP-0.0 (connection to the North Carolina Railroad Company track) and milepost GTP-5.7 (at the NC Global Transpark) at Kinston, in Lenoir County, N.C., pursuant to an executed lease and operating agreement.
This transaction is related to a concurrently filed verified notice of exemption in Gulf & Ohio Railways, Inc.—Continuance in Control Exemption—North Carolina & Atlantic Railroad Co., Inc., Docket No. FD 36009, in which Gulf & Ohio Railways, Inc., H. Peter Claussen and Linda C. Claussen seek Board approval to continue in control of NCAR under 49 C.F.R. § 1180.2(d)(2), upon NCAR’s becoming a Class III rail carrier.
NCAR certifies that the projected annual revenues as a result of this transaction will not exceed those that would qualify it as a Class II rail carrier and states that its projected annual revenue is expected not to exceed $5 million. NCAR states that the agreement regarding the subject line does not involve an interchange commitment.
The transaction may be consummated on April 8, 2016, the effective date of the exemption (30 days after the verified notice of exemption was filed). 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 to stay must be filed by April 1, 2016 (at least seven days prior to the date the exemption becomes effective).
An original and 10 copies of all pleadings, referring to
Docket No. FD 36008 must be filed with the Surface Transportation Board, 395
E Street, S.W., Washington, DC
</span>In addition, a copy of each pleading must be served on applicant’s