76906 Federal Register / Vol. 69, No. 246 / Thursday, December 23, 2004 / Notices 

publishes the notice of availability in 

the Federal Register. 

The Forest Service believes, at this 

early stage, it is important to give 

reviewers notice of several court rulings 

related to public participation in the 

environmental review process. First, 

reviewers of draft environmental impact 

statements must structure their 

participation in the environmental 

review of the proposal so that it is 

meaningful and alerts an agency to the 

reviewer’s position and contentions. 

Vermont Yankee Nuclear Power Corp. v. 

NRCD, 435 U.S. 519, 553 (1978). Also, 

environmental objections that could be 

raised at the draft environmental impact 

statement stage but that are not raised 

until after completion of the final 

environmental impact statement may be 

waived or dismissed by the courts. City 

of Angoon v. Hodel, 803 F.2d 1016, 

1022 (9th Cir. 1986), and Wisconsin 

Heritages, Inc. v. Harris, 490 F. Supp. 

1334, 1338 (E.D. Wis. 1980). Because of 

these court rulings, it is very important 

that those interested in this proposed 

action participate by the close of the 45 

day comment period so that substantive 

comments and objections are made 

available to the Forest Service at a time 

when it can meaningfully consider them 

and respond to them in the final 

environmental impact statement.

To assist the Forest Service in 

identifying and considering issues and 

concerns on the proposed action, 

comments on the draft environmental 

impact statement should be as specific 

as possible. It is also helpful if 

comments refer to specific pages or 

chapters of the draft statement. 

Comments may also address the 

adequacy of the draft environmental 

impact statement or the merits of the 

alternatives formulated and discussed in 

the statement. Reviewers may wish to 

refer to the Council on Environmental 

Quality Regulations for implementing 

the procedural provisions of the 

National Environmental Policy Act at 40 

CFR 1503.3 in addressing these points.

(Authority: 40 CFR 1501.7 and 1508.22; 

Forest Service Handbook 1909.15, Section 

21)

Dated: December 10, 2004. 

Anne F. Archie, 

Forest Supervisor.

[FR Doc. 04–28098 Filed 12–22–04; 8:45 am] 

BILLING CODE 3410–11–M

DEPARTMENT OF AGRICULTURE

Rural Telephone Bank 

Determination of the 2004 Fiscal Year 

Interest Rates on Rural Telephone 

Bank Loans

AGENCY: Rural Telephone Bank, USDA.

ACTION: Notice of 2004 fiscal year 

interest rates determination. 

SUMMARY: In accordance with 7 CFR 

1610.10, the Rural Telephone Bank 

(Bank) fiscal year 2004 cost of money 

rates have been established as follows: 

6.18% and 5.36% 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 2004 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 2004 

under Bank loans approved during or 

after fiscal year 1992 shall bear interest 

at the rate of 5.36% (the financing 

account rate). 

The calculation of the Bank’s cost of 

money rates for fiscal year 2004 for the 

liquidating account and the financing 

account are provided in Tables 1 and 2. 

Since the calculated rates are greater 

than the minimum rate (5.00%) allowed 

under 7 U.S.C. 948(b)(3)(A), the cost of 

money rates for the liquidating account 

and financing account are set at 6.18% 

and 5.36%, 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 2004 

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 2004 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 

from these sources. 

During fiscal year 2004, the Bank was 

authorized to pay the following 

dividends: the dividend on Class A 

stock was 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 6.00%. 

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 2004. 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 2004 from the 

issuance of Class C stock was $36,762. 

The Bank did not issue debentures or 

any other obligations related to the 

liquidating account in fiscal year 2004. 

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 2004 loan 

advances from the liquidating account 

over amounts received from issuance of 

stocks, debentures, and other 

obligations amounted to $843,742. 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 for 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 2004. Advances for the 

purchase of Class B stock and cash 

purchases for Class B stock were 

$3,193,628. There were rescissions of 

loan funds advanced for Class B stock 

in the amount of $446; therefore, the 

amount received by the Bank from the 

Federal Register / Vol. 69, No. 246 / Thursday, December 23, 2004 / Notices 76907

issuance of Class B stock, per 7 CFR 

1610.10(c), was $3,193,182. The Bank 

did not receive any amounts in fiscal 

year 2004 from the issuance of Class C 

stock. 

During fiscal year 2004, issuance of 

debentures or any other obligations 

related to advances from the financing 

account were $63,881,123 at an interest 

rate of 5.628%.

The excess of fiscal year 2004 loan 

advances from the liquidating account 

over amounts received from issuance of 

stocks, debentures, and other 

obligations amounted to $843,742. 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 for 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.

Dated: December 17, 2004. 

Curtis Anderson, 

Acting Governor, Rural Telephone Bank.

BILLING CODE 3410–15–P

76908 Federal Register / Vol. 69, No. 246 / Thursday, December 23, 2004 / Notices 


EN23DE04.037</GPH>
Federal Register / Vol. 69, No. 246 / Thursday, December 23, 2004 / Notices 76909

[FR Doc. 04–28080 Filed 12–22–04; 8:45 am] 

BILLING CODE 3410–15–C

DEPARTMENT OF AGRICULTURE

Rural Utilities Service 

Publication of Depreciation Rates

AGENCY: Rural Utilities Service, USDA.

ACTION: Notice.

SUMMARY: The Rural Utilities Service 

(RUS) hereby announces the 

depreciation rates for 

telecommunications plant for the period 

ending December 31, 2003.

DATES: These rates are effective 

immediately and will remain in effect 

until rates are available for the period 

ending December 31, 2004, 

approximately six months from now.

FOR FURTHER INFORMATION CONTACT:

Jonathan P. Claffey, Deputy Assistant 

Administrator, Telecommunications 

Program, Rural Utilities Service, STOP 

1590—Room 5151, 1400 Independence 

Avenue, SW., Washington, DC 20250–

1590. Telephone: (202) 720–9556.

SUPPLEMENTARY INFORMATION: In the 

RUS regulation 7 CFR part 1737, PreLoan Policies and Procedures Common 

to Insured and Guaranteed 

Telecommunications Loans, section 

1737.70(e) explains the depreciation 

rates that are used by RUS in its 

feasibility studies. Section 1737.70(e)(2) 

refers to median depreciation rates 

published by RUS for all borrowers. The 

following chart provides those rates, 

compiled by RUS, for the reporting 

period ending December 31, 2003:


EN23DE04.038</GPH>