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Read on STB bulletin that the SF & L Railroad has requested STB authority for a permanent, unconditional operating easement over the Toledo Peoria and Western between MP 1945 at La Harpe to MP 123.0 in Peoria. Upon STB granting, SF & L will assume ALL obligations as a common railroad carrier, and will employ the TPW as a contract operator. I assume RailAmerica has some sort of tax or labor relief angle here, or they may be possibly trying to avoid the TPW becoming a Class II Railraod (I have no idea if TPW's revenue's are close enough - just personal experience that Railtex/RailAmerica likes to shy away from Class II status and the associated regulations, reportings, etc. that go along with it) Anyone know for sure what's up with this? Also, any know what SF & L stands for?
Posts: 5 | From: IN | Registered: Jan 2001
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I may say that is a shock. I hadn't heard a thing about them selling the line. Although, I must admit it is smart, as long as somewhere in the agreement it allows railtex or TPW to repurchase the line. Kinda odd though. Thanks for the info, if I find out the initials I will post them.
Posts: 62 | From: HC, IN, USA | Registered: Jan 2001
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