33376 Federal Register / Vol. 65, No. 100 / Tuesday, May 23, 2000 / Notices

that each application accurately

describes all material terms of the

transaction which is the subject of the

exemption.

Signed at Washington, DC, this 18th; day

of May, 2000.

Ivan Strasfeld,

Director of Exemption Determinations,

Pension and Welfare Benefits, Administration

U.S. Department of Labor.

[FR Doc. 00–12948 Filed 5–22–00; 8:45 am]

BILLING CODE 4510–29–P

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

[Prohibited Transaction Exemption 2000–

21; Exemption Application No. D–10777, et

al.]

Grant of individual exemptions; Texas

Iron Workers and Employers

Apprenticeship Training and

Journeyman Upgrading Fund (the

Plan)

AGENCY: Pension and Welfare Benefits

Administration, Labor.

ACTION: Grant of individual exemptions.

SUMMARY: This document contains

exemptions issued by the Department of

Labor (the Department) from certain of

the prohibited transaction restrictions of

the Employee Retirement Income

Security Act of 1974 (the Act) and/or

the Internal Revenue Code of 1986 (the

Code).

Notices were published in the Federal

Register of the pendency before the

Department of proposals to grant such

exemptions. The notices set forth a

summary of facts and representations

contained in each application for

exemption and referred interested

persons to the respective applications

for a complete statement of the facts and

representations. The applications have

been available for public inspection at

the Department in Washington, D.C. The

notices also invited interested persons

to submit comments on the requested

exemptions to the Department. In

addition the notices stated that any

interested person might submit a

written request that a public hearing be

held (where appropriate). The

applicants have represented that they

have complied with the requirements of

the notification to interested persons.

No public comments and no requests for

a hearing, unless otherwise stated, were

received by the Department.

The notices of proposed exemption

were issued and the exemptions are

being granted solely by the Department

because, effective December 31, 1978,

section 102 of Reorganization Plan No.

4 of 1978, 5 U.S.C. App. 1 (1996),

transferred the authority of the Secretary

of the Treasury to issue exemptions of

the type proposed to the Secretary of

Labor.

Statutory Findings

In accordance with section 408(a) of

the Act and/or section 4975(c)(2) of the

Code and the procedures set forth in 29

CFR Part 2570, Subpart B (55 FR 32836,

32847, August 10, 1990) and based upon

the entire record, the Department makes

the following findings:

(a) The exemptions are

administratively feasible;

(b) They are in the interests of the

plans and their participants and

beneficiaries; and

(c) They are protective of the rights of

the participants and beneficiaries of the

plans.

Texas Iron Workers and Employers

Apprenticeship Training and

Journeyman Upgrading Fund (the

Plan), Located in San Antonio, Texas

[Prohibited Transaction Exemption 2000–21;

Exemption Application No. D–10777]

Exemption

The restrictions of sections 406(a),

406(b)(1) and (b)(2) of the Act shall not

apply to the purchase of a classroom/

office building and a shop building

(together, the Buildings) and an adjacent

lot (the Adjacent Lot) by the Plan from

Local Union No. 66 of the International

Association of Bridge, Structural,

Ornamental and Reinforcing Iron

Workers, for $63,000, provided that: (a)

The purchase is a one-time transaction

for cash, and no commissions are paid

by the Plan with respect to the

transaction; (b) the Plan pays a price for

the Buildings and the Adjacent Lot

(collectively, the Properties) that is no

more than the fair market value of the

Properties at the time of the transaction,

as determined by a qualified,

independent appraiser; (c) the Plan’s

independent fiduciary has determined

that the transaction is appropriate for

the Plan and in the best interests of the

Plan and its participants and

beneficiaries; and (d) the Plan’s

independent fiduciary monitors the

purchase of the Properties by the Plan

and takes whatever action is necessary

to safeguard the interests of the Plan and

its participants and beneficiaries.

For a more complete statement of the

facts and representations supporting the

Department’s decision to grant this

exemption, refer to the notice of

proposed exemption published on

March 22, 2000 at 65 FR 15367.

For Further Information Contact: Gary

H. Lefkowitz of the Department,

telephone (202) 219–8881. (This is not

a toll-free number.)

Bankers Trust Company (BTC), Located

in New York, New York

[Prohibited Transaction Exemption 2000–22;

Application No. D–10838]

Exemption

The restrictions of section 406(a) of

the Act and the sanctions resulting from

the application of section 4975 of the

Code, by reason of section 4975(c)(1)(A)

through (D) of the Code, shall not apply

to: (1) The granting to BTC (a) by the

Cheslock-Bakker Opportunity Fund,

L.P. (the LP) of security interests in (i)

the capital commitments and capital

contributions (Capital Contributions) of

certain employee benefit plans (the

Plans) investing in the LP and (ii) a

borrower collateral account to which all

Capital Contributions will be deposited

when paid and (b) by the LP and by its

general partner, CBA Real Estate

Partners, LLC, a Delaware limited

liability company, of the right to make

calls for cash contributions

(Contribution Calls) under the CheslockBakker Opportunity Fund, L.P. Limited

Partnership Agreement, where BTC is

the representative of certain lenders (the

Lenders) that will fund a so-called

‘‘credit facility’’ providing credit to the

LP, and where the Lenders are parties in

interest with respect to the Plans; and

(2) the execution of a partner agreement

and estoppel (the Estoppel) under

which the Plans agree to honor the

Contribution Calls; provided that (a) the

grants and Estoppels are on terms no

less favorable to the Plans than those

which the Plans could obtain in arm’slength transactions with unrelated

parties; (b) the decisions on behalf of

each Plan to invest in the LP and to

execute such Estoppels in favor of BTC

are made by a fiduciary which is not

included among, and is independent of

and unaffiliated with, the Lenders and

BTC; (c) with respect to Plans that have

invested or may invest in the LP in the

future, such Plans have or will have

assets of not less than $100 million and

not more than 5% of the assets of any

such Plan are or will be invested in the

LP. For purposes of this condition (c),

in the case of multiple plans maintained

by a single employer or single

controlled group of employers, the

assets of which are invested on a

commingled basis, (e.g., through a

master trust), this $100 million

threshold will be applied to the

aggregate assets of all such plans; and

(d) the general partner of the LP must be

Federal Register / Vol. 65, No. 100 / Tuesday, May 23, 2000 / Notices 33377

independent of BTC, the Lenders and

the Plans.

For a more complete statement of the

facts and representations supporting the

Department’s decision to grant this

exemption, refer to the notice of

proposed exemption published on

March 14, 2000 at 65 FR 13855.

For Further Information Contact: Gary

H. Lefkowitz of the Department,

telephone (202) 219–8881. (This is not

a toll-free number.)

Bay Internists, Inc. Profit Sharing Plan

(the Plan) Located in Kilmarnock,

Virginia

[Prohibited Transaction Exemption 2000–23;

Exemption Application No. D–10847]

Exemption

The restrictions of sections 406(a),

406(b)(1) and (b)(2) of the Act and the

sanctions resulting from the application

of section 4975 of the Code, by reason

of section 4975(c)(1)(A) through (E) of

the Code, shall not apply to the

proposed sale by the Plan of certain

unimproved real property (the Property)

located in Kilmarnock, Virginia, to BayMed, a general partnership which is a

party in interest with respect to the

Plan, provided that the following

conditions are satisfied:

(a) The proposed sale is a one-time

cash transaction;

(b) The Plan receives the current fair

market value for Property, as established

at the time of the sale by an

independent, qualified appraiser; and

(c) The Plan pays no commissions or

other expenses associated with the sale.

For a more complete statement of the

facts and representations supporting the

Department’s decision to grant this

exemption, refer to the notice of

proposed exemption published on

March 14, 2000 at 65 FR 13858.

For Further Information Contact:

Ekaterina A. Uzlyan of the Department

at (202) 219–8883. (This is not a toll-free

number.)

Foodcraft, Inc. Defined Benefit Plan

(the Plan) Located in Los Angeles,

California

[Prohibited Transaction Exemption 2000–24;

Exemption Application No. D–10864]

Exemption

The restrictions of sections 406(a) and

406(b)(1) and (b)(2) of the Act and the

sanctions resulting from the application

of section 4975 of the Code, by reason

of section 4975(c)(1)(A) through (E) of

the Code, shall not apply to the cash

sale (the Sale) of certain improved real

property (the Property) by the Plan to

the trustees of the Plan, Ernest Lieblich

and Caryl Lieblich (collectively, the

Trustees), parties in interest and

disqualified persons with respect to the

Plan, provided that the following

conditions are met:

(a) All terms and conditions of the

Sale are no less favorable to the Plan

than those which the Plan could obtain

in an arm’s length transaction with an

unrelated party;

(b) The Trustees will purchase the

Property from the Plan for the greater of

$315,000 or the Property’s fair market

value as of the date of the transaction as

determined by a qualified, independent

appraiser;

(c) The Sale will be a one-time

transaction for cash; and

(d) The Plan will pay no fees or

commissions in connection with the

Sale.

For a more complete statement of the

facts and representations supporting the

Department’s decision to grant this

exemption, refer to the notice of

proposed exemption published on

March 22, 2000 at 65 FR 15369.

For Further Information Contact: Mr.

J. Martin Jara, U.S. Department of Labor,

telephone (202) 219–8883. (This is not

a toll-free number.)

General Information

The attention of interested persons is

directed to the following:

(1) The fact that a transaction is the

subject of an exemption under section

408(a) of the Act and/or section

4975(c)(2) of the Code does not relieve

a fiduciary or other party in interest or

disqualified person from certain other

provisions to which the exemptions

does not apply and the general fiduciary

responsibility provisions of section 404

of the Act, which among other things

require a fiduciary to discharge his

duties respecting the plan solely in the

interest of the participants and

beneficiaries of the plan and in a

prudent fashion in accordance with

section 404(a)(1)(B) of the Act; nor does

it affect the requirement of section

401(a) of the Code that the plan must

operate for the exclusive benefit of the

employees of the employer maintaining

the plan and their beneficiaries;

(2) These exemptions are

supplemental to and not in derogation

of, any other provisions of the Act and/

or the Code, including statutory or

administrative exemptions and

transactional rules. Furthermore, the

fact that a transaction is subject to an

administrative or statutory exemption is

not dispositive of whether the

transaction is in fact a prohibited

transaction; and

(3) The availability of these

exemptions is subject to the express

condition that the material facts and

representations contained in each

application accurately describes all

material terms of the transaction which

is the subject of the exemption.

Signed at Washington, DC, this 18th day of

May, 2000.

Ivan Strasfeld,

Director of Exemption Determinations,

Pension and Welfare Benefits Administration,

Department of Labor.

[FR Doc. 00–12947 Filed 5–22–00; 8:45 am]

BILLING CODE 4510–29–P

NATIONAL SCIENCE FOUNDATION

Notice of Permits Issued Under the

Antarctic Conservation Act of 1978

AGENCY: National Science Foundation.

ACTION: Notice of permits issued under

the Antarctic Conservation Act of 1978,

Public Law 95–541.

SUMMARY: The National Science

Foundation (NSF) is required to publish

notice of permits issued under the

Antarctic Conservation Act of 1978.

This is the required notice.

FOR FURTHER INFORMATION CONTACT:

Nadene G. Kennedy, Permit Office,

Office of Polar Programs, Rm. 755,

National Science Foundation, 4201

Wilson Boulevard, Arlington, VA 22230.

SUPPLEMENTARY INFORMATION: On April

11th and April 13, 2000, the National

Science Foundation published notices

in the Federal Register of permit

applications received. Permits were

issued on May 15, 2000 to the following

applicant:

Anne A. Sturz: Permit No. 2001–006

Rudolf S. Scheltema: Permit No. 2001–007

Nadene G. Kennedy,

Permit Officer.

[FR Doc. 00–12934 Filed 5–22–00; 8:45 am]

BILLING CODE 7555–01–M

NATIONAL TRANSPORTATION

SAFETY BOARD

Sunshine Act Meeting

TIME AND DATE: 9:30 a.m., Wednesday,

May 31, 2000.

PLACE: NTSB Board Room, 429 L’Enfant

Plaza, SW., Washington, DC 20594.

STATUS: Open to the Public.

MATTERS TO BE CONSIDERED: 

7009A—Marine Accident Report:

Ramming of the Eads Bridge by

Barges in Tow of the M/V Anne

Holly with Subsequent Ramming

and near breakaway of the President

of the Casino on the Admiral, St.

Louis, Missouri, on April 4, 1998.