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Déjá Vu: KCS to pre-pay property taxes to aid Hurricane Rita rebuilding efforts


Kansas City Southern will pre-pay more property and real estate taxes to aid hurricane recovery efforts — this time because of Hurricane Rita. KCS subsidiary The Kansas City Southern Railway Co. will pre-pay at total of $645,550 in 2005 taxes to Beauregard and Calcasieu parishes in Louisiana, and Jefferson, Newton and Orange counties in Texas. After Hurricane Katrina, KCS pre-paid taxes totaling $655,000 to 11 Louisiana parishes and three Mississippi counties.

“KCS realizes that state and local governments are facing enormous demands at a time when their local tax base may not be generating enough revenue to respond to the great need,” said KCS Chairman, President and Chief Executive Officer Mike Haverty in a prepared statement.

The KCS Charitable Fund also has contributed $10,000 each to the Louisiana Disaster Recovery Foundation and Mississippi Hurricane Relief Fund, and $5,000 each to the Salvation Armies in Louisiana and Mississippi. In addition, KCS continues to cooperate with the Federal Emergency Management Administration, Federal Railroad Administration and other railroads to assist relief efforts.

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More News from 10/14/2005