[Federal Register Volume 80, Number 131 (Thursday, July 9, 2015)]
[Notices]
[Page 39481]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-16800]



[[Page 39481]]

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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[Docket No. FD 35940]


Illinois Company Rail Road, LLC--Lease and Operation Exemption--
North Central Mississippi Regional Railroad Authority and Grenada 
Railway, LLC

    Illinois Company Rail Road, LLC (ICRR), a noncarrier, has filed a 
verified notice of exemption under 49 CFR 1150.31 to lease and operate, 
pursuant to an agreement with the North Central Mississippi Regional 
Railroad Authority (NCMRRA) and Grenada Railway, LLC (GRYR), an 
approximately 186.82-mile rail line in Mississippi (the Line).\1\ The 
Line consists of two segments: (1) The Grenada Branch Line, an 
approximately 175.4-mile rail line extending between MP 403.0 near 
Southaven, Miss., (GRYR MP 491.09) and MP 703.8 near Canton, Miss., 
(GRYR MP 616.49); and (2) the connecting Water Valley Branch Line, an 
approximately 11.42-mile line extending between MP 614.42 at Bruce 
Jct., Miss., and the Water Valley Junction connection with the Grenada 
Branch Line at MP 603.0. ICRR states that it will use GRYR's existing 
operating rights and interchange rights with Canadian National Railway 
Company (CN) to access CN's yards in Memphis, Tenn., and Canton, Miss.
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    \1\ ICRR states that, pursuant to an agreement executed on June 
23, 2015, NCMRRA will purchase all of GRYR's Membership Interests 
from its two owners. GRYR will maintain ownership of the underlying 
rights-of-way, track structure, operating and interchange rights, 
buildings and other structures, and other assets included in the 
sale to NCMRRA that are necessary for the provision of railroad 
service. Accordingly, NCMRRA and GRYR together have executed a 15-
year lease and operation agreement with ICRR.
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    In a concurrently filed verified notice of exemption, Iowa Pacific 
Holdings, LLC (IPH), and its wholly owned noncarrier subsidiary, 
Permian Basin Railways (PBR), seek an exemption pursuant to 49 CFR 
1180.2(d)(2) to continue in control of ICRR upon ICRR's becoming a 
Class III rail carrier. Iowa Pac. Holdings, LLC--Continuance in Control 
Exemption--Ill. Co. R.R., Docket No. FD 35939.
    The transaction may be consummated on or after July 23, 2015 (30 
days after the verified notice was filed). ICCR states that it expects 
to consummate the transaction by August 7, 2015.
    ICRR certifies that the transaction's projected annual revenues 
will not exceed $5 million.
    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 than July 16, 2015 (at least 
seven days before the exemption becomes effective).
    An original and 10 copies of all pleadings, referring to Docket No. 
FD 35940 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 at our Web site at 
WWW.STB.DOT.GOV.

    Decided: July 6, 2015.

    By the Board, Rachel D. Campbell, Director, Office of 
Proceedings.
Jeffrey Herzig,
Clearance Clerk.
[FR Doc. 2015-16800 Filed 7-8-15; 8:45 am]
 BILLING CODE 4915-01-P