The NCRA has sent to Caltrans the third debt relief billing for all creditors that returned a signed release by Friday March 30th. After the State issues payment to the NCRA, and payments are processed to this current group of twenty creditors, the number of firms that the NCRA owes money to will be down to six. Each of these six firms has been contacted through two separate mailings and has either not responded or missed the deadline for returning a signed release to the NCRA.

A third and final mailing will be sent in April. Follow-up phone calls will be made to facilitate completion of the debt relief program. After this process, the NCRA will be able to determine how many dollars are available for the additional interest payments to the option A participants.  

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North Coast Railroad Authority

Creditor Update - April 2, 2001

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