Federal Register / Vol. 65, No. 219 / Monday, November 13, 2000 / Notices 67711

Estimated annual number of

responses: 3,000.

Estimated total annual burden on

respondents: 750 hours. (Due to

rounding, the total annual burden hours

may not equal the product of the annual

number of responses multiplied by the

average reporting burden per response.)

All responses to this notice will be

summarized and included in the request

for OMB approval. All comments will

also become a matter of public record.

Done in Washington, DC, this 2nd day of

November 2000 .

Bobby R. Acord

Acting Administrator, Animal and Plant

Health Inspection Service.

[FR Doc. 00–28971 Filed 11–9–00; 8:45 am]

BILLING CODE 3410–34–U

DEPARTMENT OF AGRICULTURE

Rural Telephone Bank

Determination of the 2000 Fiscal Year

Interest Rates on Rural Telephone

Bank Loans

AGENCY: Rural Telephone Bank, USDA.

ACTION: Notice of 2000 fiscal year

interest rates determined.

SUMMARY: In accordance with 7 CFR

1610.10, the Rural Telephone Bank

(Bank) fiscal year 2000 cost of money

rates have been established as follows:

6.01% and 6.05% for advances from the

liquidating account and financing

account, respectively (fiscal year is the

period beginning October 1 and ending

September 30).

Except for loans approved from

October 1, 1987, through December 21,

1987, where borrowers elected to

remain at interest rates set at loan

approval, all loan advances made during

fiscal year 2000 under Bank loans

approved in fiscal years 1988 through

1991 shall bear interest at the rate of

6.01% (the liquidating account rate). All

loan advances made during fiscal year

2000 under Bank loans approved during

or after fiscal year 1992 shall bear

interest at the rate of 6.05% (the

financing account rate).

The calculation of the Bank’s cost of

money rates for fiscal year 2000 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 6.01%

and 6.05%, 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

Administrator, Telecommunications

Program, Rural Utilities Service, 1400

Independence Ave., SW., STOP 1590,

South Building, Washington, DC 20250,

telephone number (202) 720–9556.

SUPPLEMENTARY INFORMATION: The

Federal Credit Reform Act of 1990

(‘‘Credit Reform’’) (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 2000

on loans approved prior to fiscal year

1992) and (2) the cost of money rate for

advances made during fiscal year 2000

on loans approved on or after October

1, 1991 (otherwise referred to as loans

from the financing account).

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 stocks,

debentures and other obligations; and

the costs to the Bank of obtaining funds

from these sources.

During fiscal year 2000, the Bank was

authorized to pay the following

dividends: the dividend on Class A

stock was 2.00% as established in

amended section 406(c) of the Rural

Electrification Act (RE Act); no

dividends were payable on Class B stock

as specified in 7 CFR 1610.10(c); and

the dividend on Class C stock was

established by the Bank at 5.65%.

Sources and Costs of Funds—

Liquidating Account

In accordance with Section 406(a) of

the RE Act, the Bank did not issue Class

A stock in fiscal year 2000. Advances

for the purchase of Class B stock and

cash purchases for Class B stock were

$496,982. Rescissions of loan funds

advanced for Class B stock amounted to

$195,750. Thus, the amount received by

the Bank from the issuance of Class B

stock, per 7 CFR 1610.10(c), was

$301,232 ($496,982–$195,750). The

amount received by the Bank in fiscal

year 2000 from the issuance of Class C

stock was $12,684.

The Bank did not issue debentures or

any other obligations related to the

liquidating account in fiscal year 2000.

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 2000 loan

advances from the liquidating account

over amounts received from issuance of

stocks, debentures, and other

obligations amounted to $10,122,706.

The cost associated with this excess is

the historical cost of money rate as

defined in 7 U.S.C. 948(b)(3)(D)(v). The

calculation of the Bank’s historical 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 section 408(b) of the RE

Act, as amended by Pub. L. 100–203,

and are listed in 7 CFR 1610.10(c) and

Table 1 herein.

Sources and Costs of Funds—Financing

Account

In accordance with Section 406(a) of

the RE Act, the Bank did not issue Class

A stock in fiscal year 2000. Advances

for the purchase of Class B stock and

cash purchases for Class B stock were

$1,495,327. Since there were no

rescissions of loan funds advanced for

Class B stock, the amount received by

the Bank from the issuance of Class B

stock, per 7 CFR 1610.10(c), was

$1,495,327. The Bank did not receive

any amounts in fiscal year 2000 from

the issuance of Class C stock.

During fiscal year 2000, issuance of

debentures or any other obligations

related to the financing account were

$28,384,191 at an interest rate of 6.36%.

The excess of fiscal year 2000 loan

advances from the financing account

over amounts received from issuance of

stocks, debentures, and other

obligations amounted to $1,522,349.

The cost associated with this excess is

the historical cost of money rate as

defined in 7 U.S.C. § 948(b)(3)(D)(v).

The calculation of the Bank’s historical

cost of money rate for advances from the

financing account is also provided in

Table 2. The methodology required to

perform this calculation is described in

7 CFR 1610.10(c).

Dated: October 3, 2000.

Christopher A. McLean,

Governor, Rural Telephone Bank.

BILLING CODE 3410–15–P

67712 Federal Register / Vol. 65, No. 219 / Monday, November 13, 2000 / Notices

Federal Register / Vol. 65, No. 219 / Monday, November 13, 2000 / Notices 67713

[FR Doc. 00–28970 Filed 11–09–00; 8:45 am]

BILLING CODE 3410–15–C