Railway Preservation News

Texas State RR / Iowa Pacific Last Dance?
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Author:  elueck [ Fri Mar 17, 2017 7:51 am ]
Post subject:  Texas State RR / Iowa Pacific Last Dance?

A report in the Palestine, TX newspaper states that the Texas State Railroad Authority has given Iowa Pacific until March 31 to come up with the $1.9 million that IPH owes in loans and non payment of rentals or be evicted from the property due to breach of contract. Should IPH not pay, they will have until May 15 to remove their equipment from the property. The report further states that the authority is entertaining proposals from at least 6 other entities wishing to operate the railroad.

It looks like this may be the last dance.

http://www.palestineherald.com/news/rai ... 22045.html

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