Camp Chase Rail, LLC-Acquisition and Operation Exemption-Camp Chase Railway Company, LLC, 39658-39659 [2020-14170]

Download as PDF 39658 Federal Register / Vol. 85, No. 127 / Wednesday, July 1, 2020 / Notices consummation of the transaction, the fee will be deposited into an account maintained by the Adviser at a bank or banks having the qualifications prescribed in section 26(a)(1) of the Act, and the account will earn a competitive rate of interest that will also be divided pro rata among the participating Regulated Entities and Affiliated Funds based on the amounts they invest in such Co-Investment Transaction. None of the Affiliated Funds, the Advisers, the other Regulated Entities or any affiliated person of the Regulated Entities or Affiliated Funds will receive additional compensation or remuneration of any kind as a result of or in connection with a Co-Investment Transaction (other than (a) in the case of the Regulated Entities and Affiliated Funds, the pro rata transaction fees described above and fees or other compensation described in condition 2(c)(iii)(C); and (b) in the case of the Advisers, investment advisory fees paid in accordance with the agreements between the Advisers and the Regulated Entities or the Affiliated Funds). 14. The Advisers will each maintain policies and procedures reasonably designed to ensure compliance with the foregoing conditions. These policies and procedures will require, among other things, that the applicable Adviser will be notified of all Potential CoInvestment Transactions that fall within a Regulated Entity’s then-current Objectives and Strategies and will be given sufficient information to make its independent determination and recommendations under conditions 1, 2(a), 7 and 8. 15. If the Holders own in the aggregate more than 25 percent of the Shares of a Regulated Entity, then the Holders will vote such Shares as directed by an independent third party when voting on (1) the election of directors; (2) the removal of one or more directors; or (3) all other matters under either the Act or applicable State law affecting the Board’s composition, size or manner of election. 16. Each Regulated Entity’s chief compliance officer, as defined in Rule 38a–1(a)(4), will prepare an annual report for its Board that evaluates (and documents the basis of that evaluation) the Regulated Entity’s compliance with the terms and conditions of the application and the procedures established to achieve such compliance. VerDate Sep<11>2014 01:53 Jul 01, 2020 Jkt 250001 For the Commission, by the Division of Investment Management, under delegated authority. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–14122 Filed 6–30–20; 8:45 am] BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION Interest Rates The Small Business Administration publishes an interest rate called the optional ‘‘peg’’ rate (13 CFR 120.214) on a quarterly basis. This rate is a weighted average cost of money to the government for maturities similar to the average SBA direct loan. This rate may be used as a base rate for guaranteed fluctuating interest rate SBA loans. This rate will be 0.88 percent for the July– September quarter of FY 2020. Pursuant to 13 CFR 120.921(b), the maximum legal interest rate for any third party lender’s commercial loan which funds any portion of the cost of a 504 project (see 13 CFR 120.801) shall be 6% over the New York Prime rate or, if that exceeds the maximum interest rate permitted by the constitution or laws of a given State, the maximum interest rate will be the rate permitted by the constitution or laws of the given State. John Wade, Chief, Secondary Market Division. [FR Doc. 2020–14123 Filed 6–30–20; 8:45 am] BILLING CODE P SURFACE TRANSPORTATION BOARD [Docket No. FD 36414] Camp Chase Rail, LLC—Acquisition and Operation Exemption—Camp Chase Railway Company, LLC Camp Chase Rail, LLC (Camp Chase Rail), a noncarrier, has filed a verified notice of exemption under 49 CFR 1150.31 to acquire from Camp Chase Railway Company, LLC (CCRY), and operate approximately 14 miles of rail line between milepost 141.4 in Columbus, Ohio, and milepost 155.4 in Lilly Chapel, Ohio (the Line). Camp Chase Rail states that it is a newly established subsidiary of MB Rail IB, LLC (MB Rail), formed to acquire and operate the Line. The acquisition is part of a larger transaction between MB Rail and Indiana Boxcar Corporation (IBC) under which MB Rail will acquire all of the equity in two railroads currently owned by IBC; MB Rail’s subsidiary, Camp Chase Rail, will PO 00000 Frm 00140 Fmt 4703 Sfmt 4703 acquire the Line and other assets of a third IBC railroad, CCRY; and another MB Rail subsidiary, Youngstown & Southeastern Railroad, LLC (YSR), will acquire a rail line and other assets of a fourth IBC railroad, Youngstown & Southeastern Railroad Co. (Y&S). This transaction is related to two concurrently filed verified notices of exemption: MB Rail IB, LLC— Acquisition & Continuance in Control Exemption—Chesapeake & Indiana Railroad, Vermilion Valley Railroad, Camp Chase Rail, & Youngstown & Southeastern Railroad, Docket No. FD 36413, in which MB Rail seeks, among other things, to continue in control of Camp Chase Rail upon Camp Chase Rail’s becoming a Class III rail carrier; and Youngstown & Southeastern Railroad, LLC—Acquisition & Operation Exemption—Youngstown & Southeastern Railroad Co., Docket No. FD 36415, in which YSR seeks to acquire the rail line of Y&S. Camp Chase Rail certifies that its projected annual revenues as a result of this transaction will not exceed $5 million or the threshold required to qualify as a Class III carrier. Camp Chase Rail also certifies that the proposed acquisition and operation of the Line do not involve a provision or agreement that may limit future interchange with a third-party connecting carrier. The transaction may be consummated on or after July 15, 2020, the effective date of the exemption (30 days after the verified notice 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 July 8, 2020 (at least seven days before the exemption becomes effective). All pleadings, referring to Docket No. FD 36414, must be filed with the Surface Transportation Board either via e-filing or in writing addressed to 395 E Street SW, Washington, DC 20423–0001. In addition, a copy of each pleading must be served on Camp Chase Rail’s representative, Charles H. Montange, Law Offices of Charles H. Montange, 426 NW 162nd Street, Seattle, WA 98177. According to Camp Chase Rail, this action is categorically excluded from environmental review under 49 CFR 1105.6(c) and from historic reporting requirements under 49 CFR 1105.8(b). Board decisions and notices are available at www.stb.gov. Decided: June 25, 2020. E:\FR\FM\01JYN1.SGM 01JYN1 Federal Register / Vol. 85, No. 127 / Wednesday, July 1, 2020 / Notices By the Board, Allison C. Davis, Director, Office of Proceedings. Regena Smith-Bernard, Clearance Clerk. [FR Doc. 2020–14170 Filed 6–30–20; 8:45 am] BILLING CODE 4915–01–P SURFACE TRANSPORTATION BOARD [Docket No. FD 36413] MB Rail IB, LLC—Acquisition and Continuance in Control Exemption— Chesapeake & Indiana Railroad, Vermilion Valley Railroad, Camp Chase Rail, LLC, and Youngstown & Southeastern Railroad, LLC MB Rail IB, LLC (MB Rail), a noncarrier holding company, has filed a verified notice of exemption under 49 1180.2(d)(2) to control four Class III railroads: Chesapeake & Indiana Railroad (CIR), Vermilion Valley Railroad (VVR), Camp Chase Rail, LLC (Camp Chase Rail), and Youngstown & Southeastern Railroad, LLC (YSR) (collectively, the Controlled Railroads).1 The verified notice states that MB Rail has established Camp Chase Rail and YSR as new noncarriers for the purpose of acquiring and operating the railroad assets currently owned by Camp Chase Railway Company, LLC (CCRY), and Youngstown & Southeastern Railroad Company (Y&S), respectively. The verified notice further states that Indiana Boxcar Corporation (IBC) currently owns and controls CIR, VVR, CCRY, and Y&S. According to MB Rail, it has entered into an agreement with IBC under which MB Rail will acquire from IBC all of the equity in CIR and VVR, and MB Rail’s two newly formed non-carrier subsidiaries, Camp Chase Rail and YSR, will purchase and operate the rail lines and other assets of CCRY and Y&S, respectively.2 Thus, MB Rail seeks to acquire control of CIR and VVR, and to continue in control of Camp Chase Rail and YSR when they become rail carriers upon acquiring the rail lines of CCRY and Y&S. MB Rail states that the proposed transaction will not impose any new interchange commitments. This notice of exemption is related to two concurrently filed verified notices of exemption under which MB Rail’s new subsidiaries, Camp Chase Rail and YSR, seek authority to purchase and 1 On June 15, 2020, MB Rail also filed a motion for a protective order under 49 CFR 1104.14(b), which was granted on June 16, 2020. 2 According to the verified notice, CIR’s line is located in Indiana; VVR’s line is located in Illinois and Indiana; Camp Chase Rail will operate over a line located in Ohio; and YSR will operate over a line located in Ohio and Pennsylvania. VerDate Sep<11>2014 01:53 Jul 01, 2020 Jkt 250001 operate the rail lines owned and operated by CCRY and Y&S, respectively. See Camp Chase Rail— Acquis. & Operation Exemption—Camp Chase Ry., Docket No. FD 36414, and Youngstown & Se. R.R., LLC—Acquis. & Operation Exemption—Youngstown & Se. R.R. Co., Docket No. FD 36415. The verified notice states that: (1) The lines of the Controlled Railroads do not connect with each other; (2) the proposed transaction is not part of a series of anticipated transactions that would connect the Controlled Railroads; and (3) the proposed transaction does not involve a Class I rail carrier. The proposed transaction is therefore exempt from the prior approval requirements of 49 U.S.C. 11323. See 49 CFR 1180.2(d)(2). The earliest this transaction may be consummated is July 15, 2020, the effective date of the exemption (30 days after the verified notice was filed). 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. However, 49 U.S.C. 11326(c) does not provide for labor protection for transactions under 49 U.S.C. 11324 and 11325 that involve only Class III rail carriers. Because this transaction involves Class III rail carriers only, the Board, under the statute, may not impose labor protective conditions for this transaction. 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 no later than July 8, 2020 (at least seven days before the exemption becomes effective). All pleadings, referring to Docket No. FD 36413, must be filed with the Surface Transportation Board either via e-filing or in writing addressed to 395 E Street SW, Washington, DC 20423–0001. In addition, a copy of each pleading must be served on MB Rail’s representative, Charles H. Montange, Law Offices of Charles H. Montange, 426 NW 162nd Street, Seattle, WA 98177. According to the verified notice, this action is categorically excluded from environmental review under 49 CFR 1105.6(c) and from historic preservation reporting requirements under 49 CFR 1105.8(b). Board decisions and notices are available at www.stb.gov. PO 00000 Decided: June 25, 2020. Frm 00141 Fmt 4703 Sfmt 4703 39659 By the Board, Allison C. Davis, Director, Office of Proceedings. Regena Smith-Bernard, Clearance Clerk. [FR Doc. 2020–14168 Filed 6–30–20; 8:45 am] BILLING CODE 4915–01–P SURFACE TRANSPORTATION BOARD [Docket No. FD 36415] Youngstown & Southeastern Railroad, LLC—Acquisition and Operation Exemption—Youngstown & Southeastern Railroad Company Youngstown & Southeastern Railroad, LLC (YSR), a noncarrier, has filed a verified notice of exemption under 49 CFR 1150.31 to acquire from Youngstown & Southeastern Railroad Company (Y&S) and operate approximately 35.7 miles of rail line between milepost 0.0 in Youngstown, Ohio, and milepost 35.7 in Darlington, Pa. (the Line), together with Y&S’s rights over three miles of contiguous track segments, including incidental trackage rights, running from east of milepost 0.0 and connecting the Line to interchanges with Norfolk Southern Railway Company (NSR) and CSX Transportation, Inc. (CSXT).1 YSR states that it is a newly established subsidiary of MB Rail IB, LLC (MB Rail), formed to acquire and operate the Line. The acquisition is part of a larger transaction between MB Rail and Indiana Boxcar Corporation (IBC) under which MB Rail will acquire all of the equity in two railroads currently owned by IBC; MB Rail’s subsidiary YSR will acquire the Line and other assets of a third IBC railroad, Y&S; and another MB Rail subsidiary, Camp Chase Rail, LLC (Camp Chase Rail) will acquire a rail line and other assets of a fourth IBC railroad, Camp Chase Railway Company, LLC (CCRY). This transaction is related to two concurrently filed verified notices of exemption: MB Rail IB, LLC— Acquisition & Continuance in Control Exemption—Chesapeake & Indiana Railroad, Vermilion Valley Railroad, Camp Chase Rail, & Youngstown & Southeastern Railroad, Docket No. FD 36413, in which MB Rail seeks, among other things, to continue in control of YSR upon YSR’s becoming a Class III 1 According to the verified notice, Y&S acquired the Line and rights over the contiguous track segments from Mule Sidetracks, LLC (MSLLC). See Youngstown & Se. R.R.—Acquis. & Operation Exemption—Mule Sidetracks, LLC, FD 36342 (STB served Aug. 30, 2019). YSR states that the rights are found in various agreements, described in the verified notice, under which MSLLC had succeeded to the interests of the Line’s previous owner, Columbiana County Port Authority. E:\FR\FM\01JYN1.SGM 01JYN1

Agencies

[Federal Register Volume 85, Number 127 (Wednesday, July 1, 2020)]
[Notices]
[Pages 39658-39659]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-14170]


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SURFACE TRANSPORTATION BOARD

[Docket No. FD 36414]


Camp Chase Rail, LLC--Acquisition and Operation Exemption--Camp 
Chase Railway Company, LLC

    Camp Chase Rail, LLC (Camp Chase Rail), a noncarrier, has filed a 
verified notice of exemption under 49 CFR 1150.31 to acquire from Camp 
Chase Railway Company, LLC (CCRY), and operate approximately 14 miles 
of rail line between milepost 141.4 in Columbus, Ohio, and milepost 
155.4 in Lilly Chapel, Ohio (the Line).
    Camp Chase Rail states that it is a newly established subsidiary of 
MB Rail IB, LLC (MB Rail), formed to acquire and operate the Line. The 
acquisition is part of a larger transaction between MB Rail and Indiana 
Boxcar Corporation (IBC) under which MB Rail will acquire all of the 
equity in two railroads currently owned by IBC; MB Rail's subsidiary, 
Camp Chase Rail, will acquire the Line and other assets of a third IBC 
railroad, CCRY; and another MB Rail subsidiary, Youngstown & 
Southeastern Railroad, LLC (YSR), will acquire a rail line and other 
assets of a fourth IBC railroad, Youngstown & Southeastern Railroad Co. 
(Y&S).
    This transaction is related to two concurrently filed verified 
notices of exemption: MB Rail IB, LLC--Acquisition & Continuance in 
Control Exemption--Chesapeake & Indiana Railroad, Vermilion Valley 
Railroad, Camp Chase Rail, & Youngstown & Southeastern Railroad, Docket 
No. FD 36413, in which MB Rail seeks, among other things, to continue 
in control of Camp Chase Rail upon Camp Chase Rail's becoming a Class 
III rail carrier; and Youngstown & Southeastern Railroad, LLC--
Acquisition & Operation Exemption--Youngstown & Southeastern Railroad 
Co., Docket No. FD 36415, in which YSR seeks to acquire the rail line 
of Y&S.
    Camp Chase Rail certifies that its projected annual revenues as a 
result of this transaction will not exceed $5 million or the threshold 
required to qualify as a Class III carrier. Camp Chase Rail also 
certifies that the proposed acquisition and operation of the Line do 
not involve a provision or agreement that may limit future interchange 
with a third-party connecting carrier.
    The transaction may be consummated on or after July 15, 2020, the 
effective date of the exemption (30 days after the verified notice 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 July 8, 2020 
(at least seven days before the exemption becomes effective).
    All pleadings, referring to Docket No. FD 36414, must be filed with 
the Surface Transportation Board either via e-filing or in writing 
addressed to 395 E Street SW, Washington, DC 20423-0001. In addition, a 
copy of each pleading must be served on Camp Chase Rail's 
representative, Charles H. Montange, Law Offices of Charles H. 
Montange, 426 NW 162nd Street, Seattle, WA 98177.
    According to Camp Chase Rail, this action is categorically excluded 
from environmental review under 49 CFR 1105.6(c) and from historic 
reporting requirements under 49 CFR 1105.8(b).
    Board decisions and notices are available at www.stb.gov.

    Decided: June 25, 2020.


[[Page 39659]]


    By the Board, Allison C. Davis, Director, Office of Proceedings.
Regena Smith-Bernard,
Clearance Clerk.
[FR Doc. 2020-14170 Filed 6-30-20; 8:45 am]
BILLING CODE 4915-01-P
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