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Jefferson County
Port Townsend, washington
Cœmissioners' Resolution No. 89-84
A RESOLUTION REQUESTING THE UNITED STATES BANKRUPTCY COURT, WESTERN DISTRICT
OF WASHINGTON TO APPROVE THE SALE OF CERTAIN ASSETS OF THE ESTATE OF SEATTLE
AND NORTH COAST RAILROAD TO THE BRAE CORPORATION.
NIERFAS, Seattle and North Coast Railroad filed for protection under
Chapter Eleven of the Federal Bankruptcy Code on June 8, 1984, and
WHEREAS, no rail movement has taken place since July 1, 1984 due to
uncertainties in the operating and financial status of Seattle and North Coast
Railroad, and
WHEREAS, an operating railroad is an asset to the Jefferson County
comnunity and provides flexibility to existing industries as well as those
that may be part of the future growth in the County, and
WHEREAS, the Jefferson County Cœmission has instructed its staff to
work closely with shippers in the county, the State of Washington Department
of Transportation, the Port of Port Townsend, and Mr. John Cary, Trustee of
the estate of the Seattle & North Coast Railroad, to find a viable,
financially responsible party to resume operation of the line, and
WHEREAS, Brae Corporation has been identified as an interested party
to resume operation of the line and has submitted a plan that is satisfactory
to Mr. John Cary, Trustee of Seattle and North coast Railroad, and
WHEREAS, Brae Corporation has made a cash offer to purchase certain
assets of the Seattle & North Coast Railroad, (per notice of intent to sell
assets No. 84-Øl887-YllRR) and if such a purchase was approved by United
States Bankruptcy Court, West District, it would allow resumption of rail
service before the end of 1984, and
~, a hearing on the Seattle & North Coast Trustee's request for
approval of the sale of assets to Brae Corporation has been set for December
11, 1984.
NOW, 'BJEREFORE, BE IT RESOLVED, that the Jefferson County Board of
comnissioners requests that the above mentioned sale to Brae Corporation be
approved by the United States Bankruptcy Court, Western District, at the
conclusion of the hearing on December 11, thereby allowing rail service to
begin again serving industry on the Olympic Peninsula.
Jefferson County, Washington this 4th day of
of County comnissioners
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