containerisation scheme that assumed that most freight would be carried in containers on unit trains made up of fixed consists of flat deck wagons. Container loading depots were constructed at the major freight terminals. One of the reasons often cited for these policies was that the cost of using road transport to Tranz Rail was less than that of using rail because the road infrastructure is provided as a public good, whereas the rail network was a private good. Government purchase of Auckland rail network The government purchased the Auckland metropolitan rail network from Tranz Rail for $81 million in 2002. Tranz Rail retained time slots for freight trains, and the Auckland Regional Council was granted slots for it to contract the operation of suburban passenger trains. Auckland railway stations not already local council-owned were transferred to Auckland Regional Transport Network Limited (ARTNL), owned by the Auckland territorial authorities, which was merged with the Auckland Regional Transport Authority (ARTA), a subsidiary of the Auckland Regional Council (ARC). With the creation of the "super-city" Auckland Council in 2010, ARTA was dissolved and its role was taken over by Auckland Transport, a new council-controlled organisation. Private and government ownership (2004–2008) In 2003, the share price of Tranz Rail dropped to a record low on the New Zealand sharemarket, dropping 88% in value in 12 months as a result of its poor financial state and credit downgrading. The government then considered various schemes for bailing it out in return for regaining control of the rail infrastructure. Cited reasons included a "level playing field" for freight movements on road and rail, and ensuring access to the tracks for all interested parties. Toll Holdings of Australia made a successful takeover bid for Tranz Rail, subject to an agreement to sell back the infrastructure to the government for $1. In exchange, Toll was granted exclusive use of the rail network subject to minimum freight and passenger volumes, payment of track access charges and its own investment in new rolling stock. This transaction took place in July 2004, and Tranz Rail was renamed Toll New Zealand. The government committed $200 million of taxpayer funding for deferred maintenance and capital improvements via a new subsidiary of the New Zealand Railways Corporation, ONTRACK. An interim agreement was signed by Toll NZ for track access; Toll paid a nominal track access charge while negotiating a final agreement with ONTRACK. These