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On the sign:
7.8.1949
קטר בולדווין (Baldwin) בראש הרכבת הרשמית הראשונה לירושלים לאחר קום המדינה.
قاطرة بالدوين (Baldwin) في مقدمة اول قطار رسمي الى القدس بعد قيام الدولة
Baldwin steam engine at the head of the first official train to Jerusalem after the establishment of the state.
Sign No. 30 in a series of signs placed on or around lighting poles, including the history of the old railway line to Jerusalem, along which its route extends the HaMesila (Railway) Park.
In the next picture taken that day you can see the old train track that became a pedestrian track, a bike path next to it, and the sign on one of the lighting poles Click for a larger image
A detailed description of the inauguration of the line can be found on the previous sign Click for sign's details