[Federal Register Volume 79, Number 100 (Friday, May 23, 2014)]
[Notices]
[Page 29839]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-12005]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[Docket No. FD 35828]
The Apache Railroad Company, LLC--Corporate Family Transaction
Exemption--the Apache Railway Company
The Apache Railroad Company, LLC (APA), and The Apache Railway
Company (Apache) (collectively, applicants) have jointly filed a
verified notice of exemption under 49 CFR 1180.2(d)(3) for a corporate
family transaction.
According to the applicants, APA is a noncarrier and a limited
liability company established for the purpose of owning and operating a
common carrier short line railroad. Apache is an existing Class III
railroad. Both are wholly owned subsidiaries of Snowflake Community
Foundation (Snowflake), a noncarrier entity that, according to the
applicants, was established to acquire Apache's common stock to
preserve the railroad's track, facilities, and operations. Applicants
state that APA would acquire all of the assets, franchises, rights,
obligations, and operations of Apache, which would be merged into APA.
Consequently, APA would become a Class III railroad upon the
consummation of this transaction.\1\ According to the applicants, the
purpose of this transaction is to enable Snowflake to obtain a federal
loan in order to finance the acquisition of Apache's assets and
operations.
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\1\ Pursuant to 49 CFR 1180.6(a)(7)(ii), applicants are required
to submit ``a copy of any contract or other written instrument
entered into, or proposed to be entered into, pertaining to the
proposed transaction.'' According to the applicants, an agreement
has not yet been prepared. Applicants are directed to file a copy of
the agreement as soon as it is available.
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Unless stayed, the exemption will be effective on June 7, 2014 (30
days after the verified notice was filed). Applicants state that they
intend to consummate the proposed transaction on or about mid-June
2014.
Applicants state that the transaction qualifies for the class
exemption for corporate family transactions under 49 CFR 1180.2(d)(3)
and have not indicated that the transaction would result in adverse
changes in service levels, significant operational changes, or any
changes in the competitive balance with carriers outside the corporate
family.
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 interests of its employees. Section 11326(c), however, does
not provide for labor protection for transactions under Sec. Sec.
11324 and 11325 that involve only Class III rail carriers. Accordingly,
the Board may not impose labor protective conditions here, because the
only carrier involved is a Class III rail carrier.
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 will not automatically stay the effectiveness of the exemption.
Petitions for stay must be filed no later May 30, 2014 (at least seven
days before the exemption becomes effective).
An original and 10 copies of all pleadings, referring to Docket No.
FD 35828, must be filed with the Surface Transportation Board, 395 E
Street SW., Washington, DC 20423-0001. In addition, one copy of each
pleading must be served on John D. Heffner, Strasburger & Price, LLP,
1025 Connecticut Ave. NW., Suite 717, Washington, DC 20036.
Board decisions and notices are available on our Web site at
``WWW.STB.DOT.GOV.''
Decided: May 19, 2014.
By the Board, Rachel D. Campbell, Director, Office of
Proceedings.
Jeffrey Herzig,
Clearance Clerk.
[FR Doc. 2014-12005 Filed 5-22-14; 8:45 am]
BILLING CODE 4915-01-P