Notices. Notice of availability of proposed changes in Section IV of the FOTG of the NRCS in Indiana for review and comment
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BILLING CODE 3410-03-P DEPARTMENT OF AGRICULTURE Natural Resources Conservation Service Notice of Proposed Changes to Section IV of the Field Office Technical Guide
(FOTG)of the Natural Resources Conservation Service in Indiana AGENCY: Natural Resources Conservation Service (NRCS), Department of Agriculture. ACTION: Notice of availability of proposed changes in Section IV of the FOTG of the NRCS in Indiana for review and comment. SUMMARY: It is the intention of NRCS in Indiana to issue three
(3)revised conservation practice standards in Section IV of the FOTG. The revised standards are: Surface Drainage, Field Ditch (607), Surface Drainage, Main or Lateral (608), and Water and Sediment Control Basin (638). These practices may be used in conservation systems that treat highly erodible land and/or wetlands. DATES: Comments will be received for a 30-day period commencing with this date of publication. ADDRESSES: Address all requests and comments to Jane E. Hardisty, State Conservationist, Natural Resources Conservation Service (NRCS), 6013 Lakeside Blvd., Indianapolis, Indiana 46278. Copies of these standards will be made available upon written request. You may submit your electronic requests and comments to *shannon.zezula@in.usda.gov.* FOR FURTHER INFORMATION CONTACT: Jane E. Hardisty, 317-290-3200. SUPPLEMENTARY INFORMATION: Section 343 of the Federal Agriculture Improvement and Reform Act of 1996 states that after enactment of the law, revisions made to NRCS state technical guides used to carry out highly erodible land and wetland provisions of the law, shall be made available for public review and comment. For the next 30 days, the NRCS in Indiana will receive comments relative to the proposed changes. Following that period, a determination will be made by the NRCS in Indiana regarding disposition of those comments and a final determination of changes will be made. Dated: July 27, 2006. Jane E. Hardisty, State Conservationist, Indianapolis, Indiana. [FR Doc. E6-13462 Filed 8-15-06; 8:45 am] BILLING CODE 3410-16-P DEPARTMENT OF AGRICULTURE Rural Housing Service Notice of Availability of Hurricane Disaster Assistance AGENCY: Rural Housing Service, USDA. ACTION: Notice. SUMMARY: The Rural Housing Service programs are administered through USDA Rural Development. This Notice is intended to announce the availability of supplemental hurricane disaster assistance to be administered through the Community Facilities
(CF)Direct Loan and Grant program. USDA Rural Development will provide CF Grant funds in the amount of $20,000,000 and CF Direct Loan funds in the amount of $149,253,000 for essential community facilities in rural areas affected by Hurricane Katrina and other hurricanes of the 2005 season. DATES: *Effective Date:* August 16, 2006. FOR FURTHER INFORMATION CONTACT: Information for the Community Facilities Direct Loan and Grant Program may be obtained by contacting your USDA Rural Development State Office as outlined in Section I.D. For questions regarding information contained in this Notice, please contact Derek L. Jones, Loan Specialist, Community Programs, at 202-720-1504. *Background:* The CF Direct Loan and Grant Program is designed to finance and facilitate the development of many different types of essential community facilities serving rural areas. These facilities include, but are not limited to, hospitals, medical clinics, elderly care facilities, police stations and vehicles, fire and rescue stations and vehicles, vocational and medical rehabilitation centers, and educational facilities. Funds under this Notice can be used to construct, enlarge, repair, or improve community facilities. This can include the purchase of equipment required for a facility's operation. Chapter 1 of title I of Division B of the Department of Defense, Emergency Supplemental Appropriations to Address Hurricanes in the Gulf of Mexico and Pandemic Influenza Act, 2006 (Pub. L. 109-148)
(Act)provides USDA Rural Development with additional authorities to waive certain program requirements and resources to address the damage caused by the Gulf Coast hurricanes. Section 2103 of title II of the Emergency Supplemental Appropriations Act for Defense, the Global War on Terror, and Hurricane Recovery, 2006 extended the expiration date of these waiver authorities under the Act for an additional 18 months and provided a total amount of $169,253,000 in CF Direct Loan and Grant funds for CF projects. Accordingly, the matching funds requirement for the CF Grant program will be waived for assistance provided under this Notice. In addition, the median household income requirements and the grant limits will also be waived for the purpose of this Notice. I. General Provisions A. Designated Disaster Area For the purposes of this Notice, the designated disaster area shall be those Presidentially-declared areas in the states of Alabama, Florida, Louisiana, Mississippi, North Carolina, and Texas in accordance with the Robert T. Stafford Disaster Relief and Emergency Assistance Act, 42 U.S.C. 5121 *et seq.* B. Limitation of Grant Amounts The Act enables the Secretary of Agriculture to make grants under the CF Grant program without regard to any grant amount limitation. Rural Development has determined that it will review and make awards under this NOFA as applications are received. Applications will be reviewed, approved, and obligated in the State Rural Development Office. C. Contacts for Additional Information For questions about USDA Rural Development's programs and for application assistance, please contact your USDA Rural Development State Office. The contact information for your State Office can be found at: *http://www.rurdev.usda.gov.* You can also reach your State Office by calling
(202)720-4323 and pressing “1”. D. Programs Referenced in This Notice Are Subject to Applicable Civil Rights Laws These laws include the Equal Credit Opportunity Act, Title VI of the Civil Rights Act of 1964, Title VIII of the Civil Rights Act of 1968, as amended in 1988, Section 504 of the Rehabilitation Act of 1973 and the Age Discrimination Act of 1975. II. Assistance Available Through This Notice Direct Loan and Grant Program 1. Description of Assistance Section 105 of the Act enables USDA Rural Development to make Community Facilities Direct Loan and Grants in designated disaster areas. CF Grants can be made without regard to graduated funding or matching fund requirements. 2. Eligibility Criteria Public entities such as municipalities, counties, and special-purpose districts, as well as non-profit corporations and tribal governments in designated Rural disaster areas with a population of 20,000 or less are eligible to apply. 3. Priority Administrator's points may be awarded for geographic distribution of funds and for projects with pre-existing hurricane or tornado damage which were subsequently affected by hurricanes of the 2005 season. 4. Applicable Statutory or Regulatory Authority Consolidated Farm and Rural Development Act, Section 306 (7 U.S.C. 1926(a)(1) and (19)); and, to the extent not waived by this Notice, 7 CFR, Part 3570, Subpart B, Community Facilities Grant Program, and 7 CFR Part 1942, Subpart A, Community Facilities Direct Loan Program. III. Emergency Declaration Consistent with Proclamation 7925 issued by President Bush, the USDA Rural Development Mission Area has determined that it would be impracticable, unnecessary, and contrary to public interest to delay the effective date of this Notice for any reason. The USDA Rural Development Agencies need to act promptly on hurricane related needs in the designated disaster areas. IV. Non-Discrimination Statement The U.S. Department of Agriculture
(USDA)prohibits discrimination in all its programs and activities on the basis of race, color, national origin, age, disability, and where applicable, sex, marital status, familial status, parental status, religion, sexual orientation, genetic information, political beliefs, reprisal, or because all or part of an individual's income is derived from any public assistance program. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, *etc.* ) should contact USDA's TARGET Center at
(202)720-2600 (voice and TDD). To file a complaint of discrimination, write to USDA, Director, Office of Civil Rights, 1400 Independence Avenue, SW., Washington, DC 20250-9410, or call
(800)795-3272 (voice), or
(202)720-6382 (TDD). “USDA is an equal opportunity provider, employer, and lender”. Dated: August 2, 2006. Russell T. Davis, Administrator, Rural Housing Service. [FR Doc. E6-13432 Filed 8-15-06; 8:45 am] BILLING CODE 3410-XV-P DEPARTMENT OF AGRICULTURE Rural Telephone Bank Determination of the 2005 Fiscal Year Interest Rates on Rural Telephone Bank Loans AGENCY: Rural Telephone Bank, USDA. ACTION: Notice of 2005 fiscal year interest rates determination. SUMMARY: In accordance with 7 CFR 1610.10, the Rural Telephone Bank
(Bank)fiscal year 2005 cost of money rates have been established as follows: 6.18% and 5.00% for advances from the liquidating account and financing account, respectively (fiscal year is the period beginning October 1 and ending September 30). All loan advances made during fiscal year 2005 under Bank loans approved in fiscal years 1988 through 1991 shall bear interest at the rate of 6.18% (the liquidating account rate). All loan advances made during fiscal year 2005 under Bank loans approved during or after fiscal year 1992 shall bear interest at the rate of 5.00% (the financing account rate). The calculation of the Bank's cost of money rates for fiscal year 2005 for the liquidating account and the financing account are provided in Tables 1 and 2. Since the calculated rates are greater than or equal to the minimum rate (5.00%) allowed under 7 U.S.C. 938(b)(3)(A), the cost of money rates for the liquidating account and financing account are set at 6.18% and 5.00%, respectively. The methodology required to calculate the cost of money rates is established in 7 CFR 1610.10(c). FOR FURTHER INFORMATION CONTACT: Jonathan P. Claffey, Deputy Assistant Governor, Rural Telephone Bank, STOP 1590—Room 5151, 1400 Independence Avenue, SW., Washington, DC 20250-1590. Telephone:
(202)720-9556. SUPPLEMENTARY INFORMATION: The Federal Credit Reform Act of 1990 (2 U.S.C. 661a, *et seq* .) implemented a system to reform the budgetary accounting and management of Federal credit programs. Bank loans approved on or after October 1, 1991, are accounted for in a different manner than Bank loans approved prior to fiscal year 1992. As a result, the Bank must calculate two cost of money rates:
(1)The cost of money rate for advances made from the liquidating account (advances made during fiscal year 2005 on loans approved prior to October 1, 1991) and
(2)the cost of money rate for advances made from the financing account (advances made during fiscal year 2005 on loans approved on or after October 1, 1991). The cost of money rate methodology is the same for both accounts. It develops a weighted average rate for the Bank's cost of money considering total fiscal year loan advances; the excess of fiscal year loan advances over amounts received in the fiscal year from the issuance of Class A, B, and C stock, debentures and other obligations; and the costs to the Bank of obtaining funds. During fiscal year 2005, the Bank was authorized to pay the following dividends: The dividend on Class A stock as 2.00% as established in 7 U.S.C. 946(c); no dividends were payable on Class B stock in accordance with 7 U.S.C. 946(d); and the dividend on Class C stock was established by the Bank at 5.74%. Dissolution of the Bank At its quarterly meeting on August 4, 2005, the Board of Directors (the “Board”) approved a resolution to dissolve the Bank. On November 10, 2005, the liquidation and dissolution process was initiated with the signing of the 2006 Agriculture Appropriations bill by President Bush, which contained a provision lifting the restriction on the retirement of more than 5 percent of the Class A stock held by the Government. In accordance with the Board's resolution and the terms of the Loan Transfer Agreement between the Bank and the Government, dated August 4, 2005, the Bank's liquidating account loan portfolio was transferred to the Government on October 1, 2005. As a result of that transfer, there will be no more advances of liquidating account loan funds. Therefore, this is the last notice that will report an interest rate for liquidating account loan advances. The dissolution of the Bank will not affect future advances of financing account loan funds. Requests for financing account advances will continue to be processed by employees of USDA Rural Development's Telecommunications Program, just as they were while the Bank remained in operation. The terms and conditions of the financing account loans will not change, nor will the method for determining the interest rates, including the determination of the cost of money rates after the end of the fiscal year. The only significant change to the financing account advances is that effective October 1, 2005, no Class B stock in the Bank will be purchased with a financing account loan advance. Sources and Costs of Funds—Liquidating Account In accordance with 7 U.S.C. 946(a), the Bank did not issue Class A stock in fiscal year 2005. There were no net issuances of Class B stock because the rescissions of loan funds advanced for Class B stock exceeded the amount of issuances. The amount received by the Bank in fiscal year 2005 from the issuance of Class C stock was $8,048. The Bank did not issue debentures or any other obligations related to the liquidating account in fiscal year 2005. Consequently, no cost was incurred related to the issuance of debentures subject to 7 U.S.C. 948(b)(3)(D). The excess of fiscal year 2005 loan advances from the liquidating account over amounts received from issuance of stocks, debentures, and other obligations amounted to $794,953. The cost associated with this excess is the historic cost of money rate as defined in 7 U.S.C. 948(b)(3)(D)(v). The calculation of the Bank's historic cost of money rate for advances from the liquidating account is also provided in Table 1. The methodology required to perform this calculation is described in 7 CFR 1610.10(c). The cost of the money rates for fiscal years 1974 through 1987 are defined in 7 U.S.C. 948(b) and are listed in 7 CFR 1610.10(c) and Table 1 herein. Sources and Costs of Funds—Financing Account In accordance with 7 U.S.C. 946(a), the Bank did not issue Class A stock in fiscal year 2005. Advances for the purchase of Class B stock and cash purchases for Class B stock were $4,570,841. There were rescissions of loan funds advanced for Class B stock in the amount of $8,967; therefore, the amount received by the Bank from the issuance of Class B stock, per 7 CFR 1610.10(c), was $4,561,874. The Bank did not receive any amounts in fiscal year 2005 from the issuance of Class C Stock. During fiscal year 2005, issuance of debentures or any other obligations related to advances from the financing account were $91,416,689 at an interest rate of 5.250%. The excess of fiscal year 2005 loan advances from the financing account over amounts received from issuance of stocks, debentures, and other obligations amounted to $8,967. The cost associated with this excess is the historic cost of money rate as defined in 7 U.S.C. 948(b)(3)(D)(v). The Bank's cost of money rate for advances from the financial account is provided in Table 2. The methodology required to perform this calculation is described in 7 CFR 1610.10(c). Dated: August 11, 2006. James M. Andrew, Governor, Rural Telephone Bank. Rural Telephone Bank Cost of Money Rate—Liqudating Account FY 2005 source of bank funds *(a)* Amount ($) *(b)* Cost (%) *(c)* (a)×(b) ($) (c)/Advances (%) Issuance of Class A Stock 2.00 0.0000 Issuance of Class B Stock 0.00 0.0000 Issuance of Class C Stock 8,048 5.74 462 0.0575 Issuance of Debentures and Other Obligations 0.00 0.0000 Excess of Total Advances Over Issuances 794,953 6.19 49,194 6.1263 Total FY 2005 Advances 803,001 Calculated cost of money rate = 6.18 Minimum rate allowable = 5.00 Rural Telephone Bank Historical Cost of Money Rate—Liquidating Account Fiscal year *(a)* Cost of money (%) *(b)* advances ($) *(c)* (a)×(b) ($) (c)/Total Advances (%) FY 1974 5.01 111,022,574 5,562,231 0.231 FY 1975 5.85 130,663,197 7,643,797 0.318 FY 1976 5.33 99,915,066 5,325,473 0.221 FY 1977 5.00 80,907,425 4,045,371 0.168 FY 1978 5.87 142,297,190 8,352,845 0.347 FY 1979 5.93 130,540,067 7,741,026 0.322 FY 1980 8.10 199,944,235 16,195,483 0.673 FY 1981 9.46 148,599,372 14,057,501 0.584 FY 1982 8.39 112,232,127 9,416,275 0.391 FY 1983 6.99 93,402,836 6,528,858 0.271 FY 1984 6.55 90,450,549 5,924,511 0.246 FY 1985 5.00 72,583,394 3,629,170 0.151 FY 1986 5.00 71,582,383 3,579,119 0.149 FY 1987 5.00 51,974,938 2,598,747 0.108 FY 1988 5.00 119,488,367 5,974,418 0.248 FY 1989 5.00 97,046,947 4,852,347 0.202 FY 1990 5.00 107,694,991 5,384,750 0.224 FY 1991 5.43 163,143,075 3,858,669 0.368 FY 1992 6.14 84,940,822 5,215,366 0.217 FY 1993 6.05 84,605,366 5,118,625 0.213 FY 1994 6.15 54,530,897 3,353,650 0.139 FY 1995 6.04 35,967,133 2,172,415 0.090 FY 1996 6.05 30,965,187 1,873,394 0.078 FY 1997 5.98 32,602,587 1,949,635 0.081 FY 1998 5.96 20,673,798 1,232,158 0.051 FY 1999 6.01 17,796,518 1,069,571 0.044 FY 2000 6.01 10,436,622 627,241 0.026 FY 2001 5.95 6,638,107 394,967 0.016 FY 2002 6.51 1,864,500 121,379 0.005 FY 2003 6.05 604,800 36,590 0.002 FY 2004 6.18 880,504 54,415 0.002 Total advances 2,405,995,574 Cost of money 6.19 Rural Telephone Bank Cost of Money Rate—Financing Account FY 2005 source of bank funds *(a)* Amount ($) *(b)* Cost (%) *(c)* (a)×(b) ($) (c)/Advances (%) Issuance of Class A Stock 2.00 0.0000 Issuance of Class B Stock 4,561,874 0.00 0.0000 Issuance of Class C Stock 5.740 0.0000 Issuance of Debentures and Other Obligations* 91,416,689 5.250 4,799,659 5.0003 Excess of Total Advances Over Issuances 8,967 5.956 534 0.0006 Total FY 2005 Advances 945,987,530 Calculated cost of money rate = 5.00 Minimum rate allowable = 5.00 * RTB borrowed $99,306,000 from the financing account in FY 2005; the remaining funds will be used to cover other obligations of the fund. Rural Telephone Bank Historical Cost of Money Rate—Financing Account Fiscal year *(a)* Cost of money (%) *(b)* Advances ($) *(c)* (a)×(b) ($) (c)/Total Advances (%) FY 1992 7.38 4,056,250 299,351 0.055 FY 1993 6.35 23,839,200 1,513,789 0.278 FY 1994 6.40 56,838,902 3,637,690 0.669 FY 1995 6.88 37,161,517 2,556,712 0.470 FY 1996 6.42 44,536,621 2,859,251 0.526 FY 1997 6.54 34,368,726 2,247,715 0.413 FY 1998 5.71 34,446,458 1,966,893 0.362 FY 1999 5.54 38,685,732 2,143,190 0.394 FY 2000 6.05 31,401,867 1,899,813 0.349 FY 2001 5.17 55,405,896 2,864,485 0.527 FY 2002 6.05 60,232,919 3,644,092 0.670 FY 2003 5.67 55,835,695 3,165,884 0.582 FY 2004 5.36 67,074,751 3,595,207 0.661 Total advances 543,884,534 Cost of money 5.96 [FR Doc. 06-6970 Filed 8-15-06; 8:45 am]
Connectionstraces to 4
10 references not yet in our index
- Pub. L. 109-148
- 7 CFR 1942
- 7 CFR 1610.10
- 7 CFR 1610.10(c)
- 7 USC 946(c)
- 7 USC 946(d)
- 7 USC 946(a)
- 7 USC 948(b)(3)(D)
- 7 USC 948(b)(3)(D)(v)
- 7 USC 948(b)
Citation graph
cites case law
Notices
Notice of availability of proposed changes in Section IV of the FOTG of the NRCS in Indiana for review and comment
Pub. L.Pub. L. 109-148
Cite7 CFR 1942
Cite7 CFR 1610.10
Cite7 CFR 1610.10(c)
Cite7 USC 946(c)
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