Rail line sold to Union Pacific by state
BY MICHAEL MCNUTT NewsOK.com
Tuesday, October 09, 2012
10/09/12 at 6:29 AM
OKLAHOMA CITY - Union Pacific Railroad has acquired ownership a rail line that slices across Oklahoma from Kansas to Texas 30 years after state officials preserved the route by buying it from a bankrupt railroad.
During Monday's state Transportation Commission meeting, Union Pacific and state officials signed documents that transfer 351 miles of rail line - most of which runs parallel to U.S. 81 - to the Omaha, Neb.-based company.
Tony Love, assistant vice president of real estate for Union Pacific, praised state officials for "having the foresight to preserve these lines."
The agreement was written 30 years ago when the Chicago, Rock Island and Pacific Railroad Co. filed bankruptcy, placing in jeopardy the critical line that linked Texas and Kansas through Oklahoma.
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Original Print Headline: State sells north-south rail line to Union Pacific