Western Nevada Railroad, LLC-Lease and Operation Exemption-Line in Churchill County, Nev.

CourtSurface Transportation Board
Citation87 FR 1000
Publication Date07 January 2022
Record Number2022-00069
1000
Federal Register / Vol. 87, No. 5 / Friday, January 7, 2022 / Notices
interval between the date of purchase of
the Shares and the valuation date with
respect to the repurchase of such Shares
is less than a specified period. Any
Repurchase Fee will apply equally to all
shareholders of the applicable Fund,
regardless of class, consistent with
Section 18 of the Act and Rule 18f–3
under the Act. To the extent a Fund
determines to waive, impose scheduled
variations of, or eliminate any
Repurchase Fees, it will do so
consistently with the requirements of
Rule 22d–1 under the Act as if the
Repurchase Fee were a CDSC and as if
the Fund were an open-end investment
company and the Fund’s waiver of,
scheduled variation in, or elimination
of, the Repurchase Fee will apply
uniformly to all shareholders of the
Fund.
Applicants’ Legal Analysis
Multiple Classes of Shares
1. Section 18(a)(2) of the Act provides
that a closed-end investment company
may not issue or sell a senior security
that is a stock unless certain
requirements are met. Applicants state
that the creation of multiple classes of
shares of the Funds may violate Section
18(a)(2), which is made applicable to
BDCs through Section 61(a) of the Act,
because the Funds may not meet such
requirements with respect to a class of
shares that may be a senior security.
2. Section 18(c) of the Act provides,
in relevant part, that a closed-end
investment company may not issue or
sell any senior security if, immediately
thereafter, the company has outstanding
more than one class of senior security.
Applicants state that the creation of
multiple classes of Shares of the Funds
may be prohibited by Section 18(c),
which is made applicable to BDCs
through Section 61(a) of the Act, as a
class may have priority over another
class as to payment of dividends
because shareholders of different classes
would pay different fees and expenses.
3. Section 18(i) of the Act provides
that each share of stock issued by a
registered management investment
company will be a voting stock and
have equal voting rights with every
other outstanding voting stock.
Applicants state that multiple classes of
shares of the Funds may violate Section
18(i) of the Act, which is made
applicable to BDCs through Section
61(a) of the Act, because each class
would be entitled to exclusive voting
rights with respect to matters solely
related to that class.
4. Section 6(c) of the Act provides that
the Commission may exempt any
person, security or transaction or any
class or classes of persons, securities or
transactions from any provision of the
Act, or from any rule or regulation
under the Act, if and to the extent such
exemption is necessary or appropriate
in the public interest and consistent
with the protection of investors and the
purposes fairly intended by the policy
and provisions of the Act. Applicants
request an exemption under Section 6(c)
from Sections 18(a)(2), 18(c) and 18(i)
(which are made applicable to BDCs by
Section 61(a) of the Act) to permit the
Funds to issue multiple classes of
Shares.
5. Applicants submit that the
proposed allocation of expenses relating
to distribution and voting rights among
multiple classes is equitable and will
not discriminate against any group or
class of shareholders. Applicants submit
that the proposed arrangements would
permit a Fund to facilitate the
distribution of its Shares and provide
investors with a broader choice of fee
options. Applicants assert that the
proposed BDC multiple class structure
does not raise the concerns underlying
Section 18 of the Act to any greater
degree than open-end management
investment companies’ multiple class
structures that are permitted by Rule
18f–3 under the Act.
Applicants’ Condition
Applicants agree that any order
granting the requested relief will be
subject to the following condition:
1. Each Fund will comply with the
provisions of Rules 6c–10 (except to the
extent a Fund will comply with FINRA
Rule 2310 rather than FINRA Rule
2341), 12b–1, 17d–3, 18f–3, 22d–1, and,
where applicable, 11a–3 under the 1940
Act, as amended from time to time, or
any successor rules thereto, as if those
rules applied to BDCs. In addition, each
Fund will comply with FINRA Rule
2310, as amended from time to time, or
any successor rule thereto, and will
make available to any distributor of a
Fund’s shares all of the information
necessary to permit the distributor to
prepare client account statements in
compliance with FINRA Rule 2231.
For the Commission, by the Division of
Investment Management, under delegated
authority.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–00065 Filed 1–6–22; 8:45 am]
BILLING CODE 8011–01–P
SURFACE TRANSPORTATION BOARD
[Docket No. FD 36573]
Western Nevada Railroad, LLC—Lease
and Operation Exemption—Line in
Churchill County, Nev.
Western Nevada Railroad, LLC
(WNRR), a noncarrier, has filed a
verified notice of exemption under 49
CFR 1150.31 to enter into an agreement
to lease and operate 4,100 feet of
existing track at the Fernley Business
Park (FBP) at or near Fernley/Darwin,
Churchill County, Nev. (the Line).
WNRR states that the Line connects to
a rail line owned by Union Pacific
Railroad Company (UP), over which
BNSF Railway Company (BNSF) also
has service rights. According to WNRR,
the Line is currently private industry
track that is served by UP and BNSF
with switching service provided by a
third-party contract switching operator,
Western Nevada Transload, LLC (WNT).
WNRR states that it will enter into a
lease and operating agreement for the
Line with Fernley Business Park, LLC,
the owner of FBP. WNRR states that it
will also obtain the right to construct
additional industrial tracks in FBP to
attract additional customers and rail
business, and that WNT will continue to
provide contract switching service on
the Line until the buildout is complete
and additional rail-served industries
locate at FBP.
WNRR states that no interchange
commitments are being imposed on its
operations by the lease and operating
agreement. WNRR certifies that its
projected revenues as a result of the
transaction will not exceed those that
would qualify it as a Class III carrier and
will not exceed $5 million.
The transaction may be consummated
on or after January 21, 2022, 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 January 14, 2022
(at least seven days before the
exemption becomes effective).
All pleadings, referring to Docket No.
FD 36573, should be filed with the
Surface Transportation Board via e-
filing on the Board’s website. In
addition, a copy of each pleading must
be served on WNRR’s representative,
Eric M. Hocky, Clark Hill PLC, Two
Commerce Square, 2001 Market Street,
Suite 2620, Philadelphia, PA 19103.
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1001
Federal Register / Vol. 87, No. 5 / Friday, January 7, 2022 / Notices
According to WNRR, 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: December 30, 2021.
By the Board, Scott M. Zimmerman, Acting
Director, Office of Proceedings.
Kenyatta Clay,
Clearance Clerk.
[FR Doc. 2022–00069 Filed 1–6–22; 8:45 am]
BILLING CODE 4915–01–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
Membership in the National Parks
Overflights Advisory Group
AGENCY
: Federal Aviation
Administration, (FAA), DOT.
ACTION
: Solicitation of applications.
SUMMARY
: The Federal Aviation
Administration (FAA) and the National
Park Service (NPS) invite interested
persons to apply to fill one current and
two upcoming vacancies on the
National Parks Overflights Advisory
Group (NPOAG). This notice invites
interested persons to apply for the
openings. The current opening is for a
representative of Native American
tribes. The upcoming openings are for
another representative of Native
American tribes and a representative of
general aviation concerns.
DATES
: Persons interested in these
membership openings will need to
apply by February 7, 2022.
FOR FURTHER INFORMATION CONTACT
:
Keith Lusk, Special Programs Staff,
Federal Aviation Administration,
Western-Pacific Region Headquarters,
777 S Aviation Boulevard, Suite 150, El
Segundo, CA 90245, telephone: (424)
405–7017, email: Keith.Lusk@faa.gov.
SUPPLEMENTARY INFORMATION
:
Background
The National Parks Air Tour
Management Act of 2000 (the Act) was
enacted on April 5, 2000, as Public Law
106–181, and subsequently amended in
the FAA Modernization and Reform Act
of 2012. The Act required the
establishment of the advisory group
within one year after its enactment. The
NPOAG was established in March 2001.
The advisory group is comprised of
representatives of general aviation,
commercial air tour operators,
environmental concerns, and Native
American tribes. The Administrator of
the FAA and the Director of NPS (or
their designees) serve as ex officio
members of the group. Representatives
of the Administrator and Director serve
alternating 1-year terms as chairman of
the advisory group.
In accordance with the Act, the
advisory group provides ‘‘advice,
information, and recommendations to
the Administrator and the Director—
(1) On the implementation of this title
[the Act] and the amendments made by
this title;
(2) On commonly accepted quiet
aircraft technology for use in
commercial air tour operations over a
national park or tribal lands, which will
receive preferential treatment in a given
air tour management plan;
(3) On other measures that might be
taken to accommodate the interests of
visitors to national parks; and
(4) At the request of the Administrator
and the Director, safety, environmental,
and other issues related to commercial
air tour operations over a national park
or tribal lands.’’
Membership
The current NPOAG is made up of
one member representing general
aviation, three members representing
the commercial air tour industry, four
members representing environmental
concerns, and two members
representing Native American tribes.
Members serve three year terms. Current
members of the NPOAG are as follows:
Melissa Rudinger representing general
aviation; Eric Lincoln, James Viola, and
John Becker representing commercial air
tour operators; Robert Randall, Dick
Hingson, Les Blomberg, and John
Eastman representing environmental
interests; and Carl Slater representing
Native American tribes, with one
current opening. The three-year term of
Mr. Slater expires on February 18, 2022
and the three-year term of Ms. Rudinger
expires on April 3, 2022.
Selections
In order to retain balance within the
NPOAG, the FAA and NPS are seeking
candidates interested in filling the one
current vacant seat and one upcoming
opening representing Native American
tribes and the one upcoming seat
representing general aviation concerns.
The FAA and NPS invite persons
interested in these openings on the
NPOAG to contact Mr. Keith Lusk
(contact information is written above in
FOR FURTHER INFORMATION CONTACT
).
Requests to serve on the NPOAG must
be made to Mr. Lusk in writing and
postmarked or emailed on or before
February 7, 2022. Any request to fill one
of these seats must describe the
requestor’s affiliation with general
aviation or federally-recognized Native
American tribes, as appropriate. The
request should also explain what
expertise the requestor would bring to
the NPOAG as related to issues and
concerns with aircraft flights over
national parks or tribal lands. The term
of service for NPOAG members is 3
years. Members may re-apply for
another term.
On August 13, 2014, the Office of
Management and Budget issued revised
guidance regarding the prohibition
against appointing or not reappointing
federally registered lobbyists to serve on
advisory committees (79 FR 47482).
Therefore, before appointing an
applicant to serve on the NPOAG, the
FAA and NPS will require the
prospective candidate to certify that
they are not a federally registered
lobbyist.
Issued in El Segundo, CA, on January 4,
2022.
Keith Lusk,
Program Manager, Special Programs Staff,
Western-Pacific Region.
[FR Doc. 2022–00098 Filed 1–6–22; 8:45 am]
BILLING CODE 4910–13–P
DEPARTMENT OF TRANSPORTATION
Federal Motor Carrier Safety
Administration
[Docket No. FMCSA–2022–0002]
Agency Information Collection
Activities; Emergency Approval of a
New Information Collection Request:
Apprenticeship Pilot Program
AGENCY
: Federal Motor Carrier Safety
Administration (FMCSA), Department
of Transportation (DOT).
ACTION
: Notice of request for emergency
OMB approval.
SUMMARY
: In compliance with the
Paperwork Reduction Act (PRA) of
1995, this notice announces that the
new Information Collection Request
(ICR) discussed below has been
forwarded to the Office of Management
and Budget (OMB) for review and
emergency approval. FMCSA requests
that OMB approve this collection by
January 13, 2021.
DATES
: Comments must be submitted on
or before January 12, 2022.
ADDRESSES
: Written comments and
recommendations for the proposed
information collection should be sent
within by January 12, 2022 to
www.reginfo.gov/public/do/PRAMain.
All comments received are part of the
public record. Comments will generally
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