[Federal Register Volume 75, Number 46 (Wednesday, March 10, 2010)]
[Notices]
[Page 11224]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-5077]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 35353]


VFRC, LLC--Acquisition Exemption--Union Pacific Railroad Company

    VFRC, LLC (VFRC), a noncarrier, has filed a verified notice of 
exemption under 49 CFR 1150.31 to acquire certain physical assets of a 
rail line and the underlying right-of-way from the Union Pacific 
Railroad Company (UP), between milepost 682.25, near Greenberry, OR, 
and milepost 687.6, near Corvallis, OR (the Line), a distance of 
approximately 5.35 miles.
    VFRC states that it will not provide rail freight service over the 
Line, but that UP will retain a permanent, exclusive rail freight 
easement to provide service over the Line. In a currently filed notice 
of exemption to become the operator of the Line, the Albany & Eastern 
Railroad Company seeks to acquire the freight easement from UP and to 
acquire by assignment from the Willamette & Pacific Railroad, Inc. 
(WPRR), the current operator of the Line, WPRR's operating rights and 
obligations with respect to the Line. See Albany & Eastern Railroad 
Company--Acquisition and Operation Exemption--Union Pacific Railroad 
Company and Willamette & Pacific Railroad, Inc., STB Finance Docket No. 
35355.
    VFRC states that it is in the process of finalizing a Line Sale 
Contract with UP, pursuant to which UP will: (1) Convey to VFRC certain 
track and track structures on, and the right-of-way underlying, the 
Line; and (2) retain the freight easement for operating the Line. VFRC 
also states that the Line Sale Contract does not contain a provision 
prohibiting the interchange of traffic with a third party.\1\
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    \1\ VFRC indicates that it will shortly be filing a motion to 
dismiss this notice of exemption on the grounds that the Board does 
not have jurisdiction over the involved purchase. If such a motion 
is filed, it will be addressed in a subsequent Board decision.
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    VFRC certifies that its projected annual revenues as a result of 
the transaction will not exceed those that would qualify it as Class 
III rail carrier and further certifies that its projected annual 
revenues will not exceed $5 million.
    VFRC states that it expects the transaction to be consummated on or 
shortly after the effective date of this exemption. The earliest this 
transaction may be consummated is March 24, 2010, the effective date of 
the exemption (30 days after the 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 for stay must be filed no later than March 17, 
2010 (at least 7 days before the exemption becomes effective).
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 35353, 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 Karl Morell, Ball Janik LLP, 
1445 F Street, NW., Suite 225, Washington, DC 20005.
    Board decisions and notices are available on our Web site at http://www.stb.dot.gov.

    Decided: March 5, 2010.

    By the Board, Rachel D. Campbell, Director, Office of 
Proceedings.
Jeffrey Herzig,
Clearance Clerk.
[FR Doc. 2010-5077 Filed 3-9-10; 8:45 am]
BILLING CODE 4915-01-P