Federal Register / Vol. 62, No. 28 / Tuesday, February 11, 1997 / Notices 6281

PLACE: Commissioners’ Conference

Room, 11555 Rockville Pike, Rockville,

Maryland.

STATUS: Public and Closed.

MATTERS TO BE CONSIDERED:

Week of February 10

Thursday, February 13

2:00 p.m.

Briefing on Operating Reactor Oversight

Program and Status of Improvements in

NRC Inspection Program (Public

Meeting)

(Contact: Bill Borchardt, 301–415–1257)

3:30 p.m.

Affirmation Session (Public Meeting)

*(Please Note: These items will be affirmed

immediately following the conclusion of

the preceding meeting.)

a: Louisiana Energy Services (Claiborne

Enrichment Center); Atomic Safety and

Licensing Board Partial Initial Decision

(Resolving Contentions J.4, K, and Q),

LBP–96–25.

Week of February 17—Tentative

Tuesday, February 18

1:00 p.m.

Briefing on BPR Project on Redesigned

Materials Licensing Process (Public

Meeting)

(Contact: Don Cool, 301–415–7197)

2:30 p.m.

Briefing on Analysis of Quantifying Plant

Watch List Indicators (Public Meeting)

(Contact: Rich Barrett, 301–415–7482)

Wednesday, February 19

2:00 p.m.

Briefing on Millstone and Maine Yankee

Lessons Learned (Public Meeting)

(Contact: Steve Stein, 301–415–1296)

3:30 p.m.

Affirmation Session (Public Meeting) (if

needed)

Thursday, February 20

2:00 p.m.

Briefing on EEO Program (Public Meeting)

(Contact: Ed Tucker, 301–415–7382)

Week of February 24—Tentative

Wednesday, February 26

11:30 a.m.

Affirmation Session (Public Meeting) (if

needed)

Week of March 3—Tentative

There are no meetings scheduled for the

Week of March 3.

lllllll

*The schedule for Commission meetings is

subject to change on short notice. To verify

the status of meetings call (recording)—(301)

415–1292.

CONTACT PERSON FOR MORE INFORMATION:

Bill Hill, (301) 415–1661.

The NRC Commission Meeting Schedule

can be found on the Internet at:

http://www.nrc.gov/SECY/smj/schedule. htm

This notice is distributed by mail to

several hundred subscribers; if you no

longer wish to receive it, or would like

to be added to it, please contact the

Office of the Secretary, Attn: Operations

Branch, Washington, D.C. 20555 (301–

415–1661).

In addition, distribution of this

meeting notice over the internet system

is available. If you are interested in

receiving this Commission meeting

schedule electronically, please send an

electronic message to wmh@nrc.gov or

dkw@nrc.gov.

Dated: February 7, 1997.

William M. Hill, Jr.,

SECY Tracking Officer, Office of the

Secretary.

[FR Doc. 97–3500 Filed 2–7–97; 1:40 p.m.]

BILLING CODE 7590–01–M

Final Memorandum of Understanding

Between the U.S. Nuclear Regulatory

Commission and the State of Vermont

AGENCY: Nuclear Regulatory

Commission.

ACTION: Notice.

SUMMARY: This notice is to advise the

public of the issuance of a Final

Memorandum of Understanding (MOU)

between the U.S. Nuclear Regulatory

Commission (NRC) and the State of

Vermont. The MOU provides the basis

for mutually agreeable procedures

whereby the State of Vermont may

utilize the NRC Emergency Response

Data System (ERDS) to receive data

during an emergency at a commercial

nuclear power plant in Vermont. Public

comments were addressed in

conjunction with the MOU with the

State of Michigan published in the

Federal Register, Vol. 57. No. 28,

February 11, 1992.

EFFECTIVE DATE: This MOU is effective

December 10, 1996.

ADDRESSES: Copies of all NRC

documents are available for public

inspection and copying for a fee in the

NRC Public Document Room, 2120 L

Street, N.W. (Lower Level), Washington,

DC.

FOR FURTHER INFORMATION CONTACT: John

R. Jolicoeur or Eric D. Weinstein, Office

for Analysis and Evaluation of

Operational Data, U.S. Nuclear

Regulatory Commission, Washington,

DC 20555. Telephone (301) 415–6402 or

(301) 415–7559.

SUPPLEMENTARY INFORMATION: The

attached MOU is intended to formalize

and define the manner in which the

NRC will cooperate with the State of

Vermont to provide data related to plant

conditions during emergencies at

commercial nuclear power plants in

Vermont.

Dated at Rockville, Maryland, this 28th day

of January, 1997.

For the U.S. Nuclear Regulatory

Commission.

Denwood F. Ross, Jr.,

Acting Director, Office for Analysis and

Evaluation of Operational Data.

Agreement Pertaining to the Emergency

Response Data System Between the

State of Vermont and the U.S. Nuclear

Regulatory Commission

I. Authority

The U.S. Nuclear Regulatory

Commission (NRC) and the State of

Vermont enter into this Agreement

under the authority of Section 274i of

the Atomic Energy Act of 1954, as

amended.

The State of Vermont recognizes the

Federal Government, primarily the NRC,

as having the exclusive authority and

responsibility to regulate the

radiological and national security

aspects of the construction and

operation of nuclear production or

utilization facilities, except for certain

authority over air emissions granted to

States by the Clean Air Act.

II. Background

A. The Atomic Energy Act of 1954, as

amended, and the Energy

Reorganization Act of 1974, as

amended, authorize the Nuclear

Regulatory Commission (NRC) to license

and regulate, among other activities, the

manufacture, construction, and

operation of utilization facilities

(nuclear power plants) in order to assure

common defense and security and to

protect the public health and safety.

Under these statutes, the NRC is the

responsible agency regulating nuclear

power plant safety.

B. NRC believes that its mission to

protect the public health and safety can

be served by a policy of cooperation

with the State governments and has

formally adopted a policy statement on

‘‘Cooperation with States at Commercial

Nuclear Power Plants and Other Nuclear

Production or Utilization Facilities’’ (54

FR 7530, February 22, 1989). The policy

statement provides that NRC will

consider State proposals to enter into

instruments of cooperation for certain

programs when these programs have

provisions to ensure close cooperation

with NRC. This agreement is intended

to be consistent with, and implement

the provisions of the NRC’s policy

statement.

C. NRC fulfills its statutory mandate

to regulate nuclear power plant safety

by, among other things, responding to

emergencies at the licensee’s facilities

and monitoring the status and adequacy
6282 Federal Register / Vol. 62, No. 28 / Tuesday, February 11, 1997 / Notices

of the licensee’s responses to emergency

situations.

D. The State of Vermont fulfills its

statutory mandate to provide for

preparedness, response, mitigation, and

recovery in the event of an accident at

a nuclear power plant through the State

of Vermont Emergency Management,

Radiological Emergency Response

Program.

III. Scope

A. This Agreement defines the way in

which NRC and Vermont Emergency

Management will cooperate in planning

and maintaining the capability to

transfer reactor plant data via the

Emergency Response Data System

(ERDS) during emergencies at nuclear

power plants in the State of Vermont.

B. It is understood by the NRC and the

State of Vermont that ERDS data will

only be transmitted by a licensee during

emergencies classified at the Alert level

or above, during scheduled tests, or

during exercises when available.

C. Nothing in this Agreement is

intended to restrict or expand the

statutory authority of NRC, the State of

Vermont, or to affect or otherwise alter

the terms of any agreement in effect

under the authority Section 274b of the

Atomic Energy Act of 1954, as amended;

nor is anything in this Agreement

intended to restrict or expand the

authority of the State of Vermont on

matters not within the scope of this

Agreement.

D. Nothing in this Agreement confers

upon the State of Vermont authority to

(1) interpret or modify NRC regulations

and NRC requirements imposed on the

licensee; (2) take enforcement actions;

(3) issue confirmatory letters; (4) amend,

modify, or revoke a license issued by

NRC; or (5) direct or recommend

nuclear power plant employees to take

or not to take any action. Authority for

all such actions is reserved exclusively

to the NRC.

IV. NRC’s General Responsibilities

Under this agreement, NRC is

responsible for maintaining the

Emergency Response Data System.

ERDS is a system designed to receive,

store and retransmit data from in-plant

data systems at nuclear power plants

during emergencies. The NRC will

provide user access to ERDS data to one

user terminal for the State of Vermont

during emergencies at nuclear power

plants which have implemented an

ERDS interface and for which any

portion of the plant’s 10 mile

Emergency Planning Zone (EPZ) lies

within the State of Vermont. The NRC

agrees to provide unique software

already available to NRC (not

commercially available) that was

developed under NRC contract for

configuring an ERDS workstation.

V. Vermont Emergency Management’s

General Responsibilities

A. Vermont Emergency management

will, in cooperation with the NRC

establish a capability to receive ERDS

data. To this end, Vermont Emergency

Management will provide the necessary

computer hardware and commercially

licensed software required for ERDS

data transfer to users.

B. Vermont Emergency management

agrees not to use ERDS to access data

from nuclear power plants for which a

portion of the 10 mile Emergency

Planning Zone does not fall within its

State boundary.

C. For the purpose of minimizing the

impact on plant operators, clarification

of ERDS data will be pursued through

the NRC.

VI. Implementation

Vermont Emergency Management and

the NRC agree to work in concert to

assure that the following

communications and information

exchange protocol regarding the NRC

ERDS are followed.

A. Vermont Emergency Management

and the NRC agree in good faith to make

available to each other information

within the intent and scope of this

Agreement.

B. NRC and Vermont Emergency

Management agree to meet as necessary

to exchange information on matters of

common concern pertinent to this

Agreement. Unless otherwise agreed,

such meetings will be held in the NRC

Operations Center. The affected utilities

will be kept informed of pertinent

information covered by this Agreement.

C. To preclude the premature public

release of sensitive information, NRC

and Vermont Emergency Management

will protect sensitive information to the

extent permitted by the Federal

Freedom of Information Act, the State

Freedom of Information Act, 10 CFR

2.790, and other applicable authority.

D. NRC will conduct periodic tests of

licensee ERDS data links. A copy of the

test schedule will be provided to

Vermont Emergency Management by the

NRC. Vermont Emergency Management

may test its ability to access ERDS data

during these scheduled tests, or may

schedule independent tests of the State

link with the NRC.

E. NRC will provide access to ERDS

for emergency exercises with reactor

units capable of transmitting exercise

data to ERDS. For exercises in which the

NRC is not participating, Vermont

Emergency Management will coordinate

with NRC in advance to ensure ERDS

availability. NRC reserves the right to

preempt ERDS use for any exercise in

progress in the event of an actual event

at any licensed nuclear power plant.

VII. Contacts

A. The principal senior management

contacts for this Agreement will be the

Director, Incident Response Division,

Office for Analysis and Evaluation of

Operational Data, and the Director,

Vermont Emergency Management.

These individuals may designate

appropriate staff representatives for

purpose of administering this

Agreement.

B. Identification of these contacts is

not intended to restrict communication

between NRC and Vermont Emergency

Management staff members on technical

and other day-to-day activities.

VIII. Resolution of Disagreements

A. If disagreements arise about

matters within the scope of this

Agreement, NRC and Vermont

Emergency Management will work

together to resolve these differences.

B. Resolution of differences between

the State and NRC staff over issues

arising out of this Agreement will be the

initial responsibility of the NRC

Incident Response Division

management.

C. Differences which cannot be

resolved in accordance with Sections

VIII.A and VIII.B will be reviewed and

resolved by the Director, Office of

Analysis and Evaluation of Operational

Data.

D. The NRC’s General Counsel has the

final authority to provide legal

interpretation of the Commission’s

regulations.

IX. Effective Date

The Agreement will take effect after it

has been signed by both parties.

X. Duration

A formal review, not less than 1 year

after the effective date, will be

performed by the NRC to evaluate

implementation of the Agreement and

resolve any problems identified. This

Agreement will be subject to periodic

reviews and may be amended or

modified upon written agreement by

both parties, and may be terminated

upon 30 days written notice by either

party.

XI. Separability

If any provision(s) of this Agreement,

or the application of any provision(s) to

any person or circumstances is held

invalid, the remainder of this

Agreement and the application of such
Federal Register / Vol. 62, No. 28 / Tuesday, February 11, 1997 / Notices 6283

provisions to other persons or

circumstances will not be affected.

For the U.S. Nuclear Regulatory

Commission.

Dated: December 2, 1996.

James M. Taylor,

Executive Director for Operations.

For the State of Vermont.

Dated: December 10, 1996.

George L. Lowe,

Director, Vermont Emergency Management.

[FR Doc. 97–3320 Filed 2–10–97; 8:45 am]

BILLING CODE 7590–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. IC–22492; 812–10396]

John Nuveen & Co. Incorporated and

Nuveen Tax-Free Unit Trusts; Notice of

Application

February 4, 1997.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’).

ACTION: Notice of Application for

Exemption under the Investment

Company Act of 1940 (the ‘‘Act’’).

APPLICANTS: John Nuveen & Co.

Incorporated (the ‘‘Sponsor’’), Nuveen

Tax-Free Unit Trusts (the ‘‘Nuveen

Trust’’), and any future trusts sponsored

by the Sponsor (together with the

Nuveen Trust, the ‘‘Trusts’’), and their

respective series (each, a ‘‘Series’’ or a

‘‘Trust Series’’).

RELEVANT ACT SECTIONS: Order requested

under section 6(c) for an exemption

from sections 2(a)(32), 2(a)(35), 12(d)(3),

14(a), 19(b), 22(d), and 26(a)(2) of the

Act, and rules 19b–1 and 22c–1

thereunder; under section 11(a) for an

exemption from section 11(c); and

under sections 6(c) and 17(b) for an

exemption from section 17(a).

SUMMARY OF APPLICATION: Applicants

request an order to permit: (a) the Trust

to impose sales charges on a deferred

basis, and to waive the deferred sales

charge in certain circumstances; (b)

certain offers of exchange involving the

Trusts; (c) units of the Trusts to be

publicly offered without requiring the

Sponsor to take for its own account or

place with others $100,000 worth of

units in those Trusts; (d) certain Trusts

to distribute capital gains resulting from

the sale of portfolio securities within a

reasonable time after receipt; (e) a

terminating Series of a Trust to sell

portfolio securities to a new Series of

the Trust; and (f) certain Trust Series to

invest up to 10.5%, and certain other

Trust Series to invest up to 20.5% of

their assets in the securities of issuers

that derived more than 15% of their

gross revenues in their most recent

fiscal year from securities related

activities.

FILING DATE: The application was filed

on October 15, 1996.

HEARING OR NOTIFICATION OF HEARING: An

order granting the application will be

issued unless the SEC orders a hearing.

Interested persons may request a

hearing by writing to the SEC’s

Secretary and serving applicants with a

copy of the request, personally or by

mail. Hearing requests should be

received by the SEC by 5:30 p.m. on

March 3, 1997, and should be

accompanied by proof of service on

applicants, in the form of an affidavit or,

for lawyers, a certificate of service.

Hearing requests should state the nature

of the writer’s request, the reason for the

request, and the issues contested.

Persons may request notification of a

hearing by writing to the SEC’s

Secretary.

ADDRESSES: Secretary, SEC, 450 Fifth

Street N.W., Washington, D.C. 20549.

Applicants: 333 West Wacker Drive,

Chicago, IL 60606.

FOR FURTHER INFORMATION CONTACT:

Christine Y. Greenlees, Senior Counsel,

at (202) 942–0581, or Mary Kay Frech,

Branch Chief, at (202) 942–0564

(Division of Investment Management,

Office of Investment Company

Regulation).

SUPPLEMENTARY INFORMATION: The

following is a summary of the

application. The complete application

may be obtained for a fee at the SEC’s

Public Reference Branch.

Applicants’ Representations

1. Each Trust is or will be a unit

investment trust registered as an

investment company under the Act.

Each of the Trusts is sponsored by the

Sponsor, and is made up of one or more

Series of separate unit investment trusts

issuing securities registered or to be

registered under the Securities Act of

1933. Each Series is created by a Trust

Indenture (the ‘‘Indenture’’) between the

Sponsor and a banking institution or

trust company as trustee (the

‘‘Trustee’’). The Sponsor is a whollyowned subsidiary of The John Nuveen

Company, of which approximately 78%

is owned by The St. Paul Companies,

Inc.

2. The fundamental structures of the

Trusts and the various Series are similar

in most respects, however, the

investment objectives may differ. In all

cases, the Sponsor will acquire a

portfolio of securities which it then

deposits with the Trustee in exchange

for certificates representing units of

fractional undivided interest (‘‘Units’’)

in the deposited portfolio. The Units are

then offered to the public through the

Sponsor and dealers at a public offering

price which, during the initial offering

period, is based upon the aggregate

offering side evaluation of the

underlying securities plus a front-end

sales charge. This sales charge is the

maximum amount applicable to any

particular Series of a Trust and

currently ranges from 4.9% to 2.5% of

the public offering price, depending on

the term of the underlying securities.

The Sponsor may reduce the sales

charge under certain circumstances,

which will be disclosed in the

prospectus. Any such reduction will be

made in accordance with rule 22d–1.

3. The Sponsor maintains a secondary

market for Units of outstanding Series,

and continually offers to purchase these

Units at prices based upon the bid side

evaluation of the underlying securities.

Investors may purchase Units on the

secondary market at the current public

offering price plus a front-end sales

charge. If the Sponsor discontinues

maintaining such a market at any time

for any Series, holders of Units

(‘‘Unitholders’’) of such a Series may

redeem their Units through the Trustee.

A. Deferred Sales Charge

1. The Sponsor proposes to

implement a program for one or more

Trust Series under which part or all of

the sales charge would be deferred.

Under applicants’ deferred sales charge

(‘‘DSC’’) proposal, the Sponsor will

determine both the maximum amount of

the sales charge per Unit, and whether

to defer the collection of all or part of

the sales charge over a period (the

‘‘Collection Period’’) subsequent to the

settlement date for the purchase of

Units. The Sponsor will in no event add

to the deferred amount of the sales

charge any additional amount for

interest or any similar or related charge

to reflect or adjust for such deferral.

2. The Sponsor anticipates collecting

a portion of the total sales charge

immediately upon the purchase of Trust

Units. The balance of the sales charge

will be collected over the Collection

Period for the particular Trust Series. A

ratable portion of the sales charge

remaining to be collected will be

deducted from each Unitholder’s

distributions on the Units (‘‘Distribution

Deductions’’) during the Collection

Period until the total amount of the

sales charge per Unit is collected. If

distribution income is insufficient to

pay a DSC installment, the Trustee,

pursuant to the powers granted in the

Indenture, will have the ability to sell

portfolio securities in an amount