Federal Register / Vol. 71, No. 158 / Wednesday, August 16, 2006 / Notices 47165 

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 


jlentini on PROD1PC65 with NOTICES
47166 Federal Register / Vol. 71, No. 158 / Wednesday, August 16, 2006 / Notices 

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 


jlentini on PROD1PC65 with NOTICES
Federal Register / Vol. 71, No. 158 / Wednesday, August 16, 2006 / Notices 47167 

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 


jlentini on PROD1PC65 with NOTICES
47168 Federal Register / Vol. 71, No. 158 / Wednesday, August 16, 2006 / Notices 

RURAL TELEPHONE BANK HISTORICAL COST OF MONEY RATE—FINANCING ACCOUNT—Continued 

Fiscal year 

(a) 

Cost of 

money 

(%) 

(b) 

Advances 

($) 

(c) 

(a)×(b) 

($) 

(c)/Total 

Advances 

(%) 

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] 

BILLING CODE 3410–15–M 

DEPARTMENT OF AGRICULTURE 

Rural Utilities Service 

Georgia Transmission Corporation; 

Notice of Intent To Hold a Public 

Scoping Meeting and Prepare an 

Environmental Assessment 

AGENCY: Rural Utilities Service, USDA. 

ACTION: Notice of intent to hold a public 

scoping meeting and prepare an 

Environmental Assessment (EA). 

SUMMARY: Rural Utilities Service (RUS), 

an agency which administers the U.S. 

Department of Agriculture’s Rural 

Development Utilities Programs. RUS 

intends to hold a public scoping 

meeting and prepare an Environmental 

Assessment (EA) in connection with 

possible impacts related to a project 

proposed by Georgia Transmission 

Corporation (GTC), with headquarters in 

Tucker, Georgia. 

The proposal consists of the 

construction of approximately 7 miles of 

230 kilovolt (kV) transmission line from 

the proposed East Walton 500/230 kV 

Substation to the proposed Bethabara 

Substation. The 230 kilovolt 

transmission line proposal would be 

located in Walton and Oconee Counties, 

Georgia. The proposed East Walton 500/ 

230 kV Substation is located in Walton 

County and the proposed Bethabara 

Substation in Oconee County. This 

proposal is a connected action to the 

East Walton-Rockville 500 kV 

Transmission Line, the East WaltonJack’s 230 kV Transmission Line that 

was presented at the scoping meetings 

held on Monday, April 17, 2006, at 

Carver Middle School in Monroe, 

Georgia and Tuesday, April 18, 2006, at 

the Madison Morgan Cultural Center in 

Madison, Georgia. GTC is requesting 

RUS provide financing for the proposal. 

DATES: RUS will conduct one scoping 

meeting in an open house format, 

seeking the input of the public and 

other interested parties. The meeting 

will be held from 5 p.m. until 7 p.m., 

August 22, 2006, in Fellowship Hall of 

the Bethabara Baptist Church, 4651 

Monroe Highway (US 78), Statham, 

Georgia 30666. 

An Electric Alternative Evaluation 

and Macro Corridor Study Report, 

prepared by Georgia Transmission 

Corporation, will be presented at the 

public scoping meeting. The Report will 

be available for public review at RUS’

address provided in this notice, at RUS’

Web site: http://www.usda.gov/rus/ 

water/ees/ea.htm, at Georgia 

Transmission Corporation, 2100 East 

Exchange Place, Tucker, Georgia 30084 

and at the following locations: 

Walton County Library, 217 West Spring 

Street, Monroe, Georgia 30655; 770 

267–4630. 

Oconee County Library, 1080 

Experiment Station Road, 

Watkinsville, Georgia 30677; 706 769–

3950. 

FOR FURTHER INFORMATION CONTACT: 

Stephanie Strength, Environmental 

Protection Specialist, USDA Rural 

Development, Utilities Programs, 

Engineering and Environmental Staff, 

1400 Independence Avenue, SW., Stop 

1571, Washington, DC 20250–1571, 

telephone (202) 720–0468. Mrs. 

Strength’s E-mail address is 

stephanie.strength@wdc.usda.gov. 

SUPPLEMENTARY INFORMATION: Georgia 

Transmission Corporation proposes to 

construct a 230 kilovolt transmission 

line from the proposed East Walton 500/ 

230 kV Substation to the proposed 

Bethabara Substation. It would require a 

right-of-way of 100 feet. Guyed and 

unguyed concrete or steel poles ranging 

in height from 80- to 120-feet would 

support the East Walton-Bethabara 230 

kV conductors. It is anticipated that the 

transmission line would be in service in 

2011. 

Government agencies, private 

organizations, and the public are invited 

to participate in the planning and 

analysis of the proposal. Representatives 

from RUS and Georgia Transmission 

Corporation will be available at the 

scoping meeting to discuss RUS’

environmental review process, describe 

the project, the purpose and need for the 

proposal, macro corridors under 

consideration, and to discuss the scope 

of environmental issues to be 

considered, answer questions, and 

accept comments. Comments regarding 

the proposal may be submitted (orally or 

in writing) at the public scoping 

meeting or in writing for receipt no later 

than September 22, 2006, to RUS at the 

address provided in this notice. 

Georgia Transmission Corporation 

will prepare an environmental analysis 

to be submitted to RUS for review from 

information provided in the alternative 

evaluation and site selection study and 

input that may be provided by 

government agencies, private 

organizations and the public. RUS will 

use the environmental analysis to 

determine the significance of the 

impacts of the proposal and may adopt 

it as its Environmental Assessment for 

the proposal. RUS’ Environmental 

Assessment will be available for review 

and comment for 30 days. 

Should RUS determine, based on the 

Environmental Assessment that the 

impacts of the construction and 

operation of the transmission line 

would not have a significant 

environmental impact, it will prepare a 

finding of no significant impact. Public 

notification of a finding of no significant 

impact will be published in the Federal 

Register and in newspapers with a 

circulation in the project area. 

Any final action by RUS related to the 

proposal will be subject to, and 

contingent upon, compliance with 

environmental review requirements as 

prescribed by RUS’ environmental 

policies and procedures. 


jlentini on PROD1PC65 with NOTICES