483/478 Swap A Done Deal

[Dick Cowles]

Good to see that Jay Wimer over at the Gote has posted (a) the terms of the July 16 resolution by the Commission giving conditional approval for the swap and (b) the terms of the Agreement between the two railroads for the actual exchange.

What needs to be added is that, since the conditions in the July 16 resolution have been met by both parties, the Exchange Agreement has since been executed by the duly authorized representatives of both railroads and is now in process of being implemented. Such are the facts of the matter.

[Jason Rose]

Thanks for the update, Mr. Cowles.

[Craig Kumler]

Good News Dick....I hope they have a funding plan to complete the restoration. Also, do you have any idea what the Railroad does with the 5% Historic preservation tax they add on each ticket?

[Dick Cowles]

Craig --
I don't think the Commission has an immediate fund-raising plan. The main accomplishment is that the C&TS now has in its motive power fleet a K-28 that was acquired at very little cost.
Best you check with the Commission office or someone on the Friends board as to disposition of funds from the preservation fee; I've not been involved.

[Rich Murray]

Craig --
I don't think the Commission has an immediate fund-raising plan. The main accomplishment is that the C&TS now has in its motive power fleet a K-28 that was acquired at very little cost.
Best you check with the Commission office or someone on the Friends board as to disposition of funds from the preservation fee; I've not been involved.

At an earlier commission meeting it was apparent that the funds are controlled by the commission and allocated by them. The Friends it appears need to request funds and hope the commission agrees with the request.