Federal Register / Vol. 65, No. 229 / Tuesday, November 28, 2000 / Notices 70845

concerning compliance with the

Commission’s decommissioning

requirements regarding the disposition

and use of the amounts accumulated in

the decommissioning trust fund and

retained by the Authority, until such

time as the Authority transfers the

decommissioning trust fund to Entergy

Nuclear IP3 or the decommissioning of

IP3 has been completed in accordance

with NRC regulations and guidance,

whichever occurs first.

(15) Entergy Nuclear IP3 shall take all

necessary steps to ensure that the

decommissioning trust is maintained in

accordance with the application for the

transfer of the license for IP3 and the

requirements of this Order approving

the transfer, and consistent with the

safety evaluation supporting this Order.

(16) Entergy Nuclear IP3 and ENO

shall take no action to cause Entergy

Global Investments, Inc. or Entergy

International Ltd. LLC, or their parent

companies to void, cancel, or modify

the $70 million contingency

commitment to provide funding for IP3

as represented in the application,

without the prior written consent of the

Director, Office of Nuclear Reactor

Regulation.

(17) After receiving all required

regulatory approvals of the transfer of

IP3, the transfer applicants shall

immediately inform the Director, Office

of Nuclear Reactor Regulation, in

writing of such receipt, and state therein

the closing date of the sale and transfer

of IP3. This notice shall be given to the

Director, Office of Nuclear Reactor

Regulation at least three business days

before the closing date of the sale and

transfer of IP3. If the transfer of the

license is not completed by November 1,

2001, this Order shall become null and

void, provided, however, on written

application and for good cause shown,

this date may be extended.

It is further ordered that, consistent

with 10 CFR 2.1315(b), a license

amendment that makes changes, as

indicated in Enclosure 2 to the cover

letter forwarding this Order, to conform

the license to reflect the subject license

transfer is approved. The amendment

shall be issued and made effective at the

time the proposed license transfer is

completed.

This Order is effective upon issuance.

For further details with respect to this

Order, see the initial application

submitted under cover letters dated May

11 and May 12, 2000, and supplements

dated June 13, June 16, July 14,

September 21, October 26, and

November 3, 2000, and the safety

evaluation dated November 9, 2000,

which are available for public

inspection at the NRC’s Public

Document Room located at One White

Flint North, 11555 Rockville Pike (first

floor), Rockville, Maryland, and are

accessible electronically through the

ADAMS Public Electronic Reading

Room link at the NRC Web site (http:/

/www.nrc.gov).

Dated at Rockville, Maryland, this 9th day

of November 2000.

For the Nuclear Regulatory Commission.

Samuel J. Collins,

Director, Office of Nuclear Reactor

Regulation.

[FR Doc. 00–30283 Filed 11–27–00; 8:45 am]

BILLING CODE 7590–01–P

NUCLEAR REGULATORY

COMMISSION

[Docket No. 50–333]

In the Matter of Power Authority of the

State of New York; (James A.

FitzPatrick Nuclear Power Plant); Order

Approving Transfer of License and

Conforming Amendment

I.

The Power Authority of the State of

New York (PASNY or the Authority) is

the holder of Facility Operating License

No. DPR–59, which authorizes

operation of the James A. FitzPatrick

Nuclear Power Plant (FitzPatrick or the

facility) at steady-state power levels not

in excess of 2536 megawatts thermal.

The facility, which is owned by PASNY,

is located in Oswego County, New York.

The license authorizes PASNY to

possess, use, and operate the facility.

II.

Under cover of letters dated May 11,

2000, and May 12, 2000, PASNY,

Entergy Nuclear FitzPatrick, LLC

(Entergy Nuclear FitzPatrick), and

Entergy Nuclear Operations, Inc. (ENO),

submitted an application requesting

approval of the proposed transfer of the

FitzPatrick operating license to Entergy

Nuclear FitzPatrick to possess and use

and to ENO to possess, use, and operate

FitzPatrick, and approval of a

conforming amendment to reflect the

transfer. The application was

supplemented by letters dated June 13,

June 16, July 14, September 21, October

26, and November 3, 2000.

Entergy Nuclear FitzPatrick, a

Delaware corporation, is a wholly

owned indirect subsidiary of Entergy

Corporation and an indirect wholly

owned subsidiary of Entergy Nuclear

Holding Company #1. ENO, a Delaware

corporation, is an indirect wholly

owned subsidiary of Entergy

Corporation, and a direct wholly owned

subsidiary of Entergy Nuclear Holding

Company #2. After completion of the

proposed transfer, Entergy Nuclear

FitzPatrick would be the owner of

FitzPatrick, and ENO would be the

operator of FitzPatrick. The conforming

amendment would remove the current

licensee from the facility operating

license and would add Entergy Nuclear

FitzPatrick and ENO in its place, as

appropriate.

The applicants propose that, after the

sale and transfer of FitzPatrick to

Entergy Nuclear FitzPatrick, the

Authority would retain all rights, title,

and legal and beneficial interest in the

decommissioning trust fund for the

facility, while the trust fund would

remain at all times committed to the

decommissioning of FitzPatrick. The

September 21, 2000, supplement to the

application, filed by the Authority on

behalf of itself and the other transfer

applicants, includes the following

proposals and commitments relating

specifically to the Authority’s retention

of the decommissioning trust fund for

FitzPatrick:

(1) The Authority will waive any right

to deny, contest or challenge the NRC’s

jurisdiction over the Authority with

respect to FitzPatrick to the extent that

there may arise in the future any matter

warranting action by the NRC to ensure

compliance with the NRC’s

decommissioning requirements

regarding the disposition and use of the

amounts accumulated in the

decommissioning trust fund and

retained by the Authority.

(2) Upon the transfer of FitzPatrick,

and pursuant to Section 7 of the

decommissioning agreement between

Entergy Nuclear FitzPatrick, Entergy

Nuclear, Inc., and the Authority,

Entergy Nuclear FitzPatrick shall have

the sole discretion to permanently cease

operations of FitzPatrick. For purposes

of compliance with NRC requirements,

by operation of the transfer Entergy

Nuclear FitzPatrick and ENO shall have

sole responsibility for decommissioning

FitzPatrick, and the Authority’s

responsibility under Commission

jurisdiction with respect to FitzPatrick

will be limited solely to the holding and

disbursement of funds for the

decommissioning of the unit. Entergy

Nuclear FitzPatrick and ENO will have

control over all physical

decommissioning activities. The

Authority’s waiver and

decommissioning responsibility as

described above only applies until the

Authority transfers the

decommissioning trust funds to Entergy

Nuclear FitzPatrick or until the

decommissioning of FitzPatrick has

been completed in accordance with

70846 Federal Register / Vol. 65, No. 229 / Tuesday, November 28, 2000 / Notices

NRC regulations and guidance,

whichever shall first occur.

In addition, the November 3, 2000,

supplement to the application proposes

that the relevant trust agreement will

provide that the provisions or purpose

of the trust agreement may be enforced

by the NRC against the Authority and

the trustee with respect to the

disbursement of the trust funds to the

extent necessary to ensure compliance

with or satisfaction of the NRC’s

decommissioning requirements.

Approval of the transfer of the facility

operating license and the conforming

license amendment was requested by

PASNY, Entergy Nuclear FitzPatrick,

and ENO, pursuant to 10 CFR 50.80 and

50.90. Notice of the request for approval

and an opportunity to request a hearing

or submit written comments was

published in the Federal Register on

June 28, 2000 (65 FR 39954). Pursuant

to such notice, the Commission received

a hearing request dated July 14, 2000,

from the Nuclear Generation Employees

Association and William Carano,

Thomas Pulcher, and Richard Wiese, Jr.;

and a hearing request dated July 31,

2000, from the Citizens Awareness

Network. These requests are currently

pending before the Commission. No

written comments were submitted.

Pursuant to 10 CFR 2.1316, during the

pendency of a hearing, the staff is

expected to promptly proceed with the

approval or denial of license transfer

requests consistent with the staff’s

findings in its safety evaluation. Notice

of the staff’s action shall be promptly

transmitted to the Presiding Officer and

parties to the proceeding. Commission

action on the pending hearing requests

is being handled independently of this

action.

Under 10 CFR 50.80, no license, or

any right thereunder, shall be

transferred, directly or indirectly,

through transfer of control of the

license, unless the Nuclear Regulatory

Commission shall give its consent in

writing. After reviewing the information

in the application and all supplements

thereto (collectively, the application)

and other information before the

Commission, and relying upon the

representations and agreements

contained in the application, the NRC

staff has determined that Entergy

Nuclear FitzPatrick and ENO are

qualified to be the holders of the

license, to the extent proposed in the

application, and that the transfer of the

license to Entergy Nuclear FitzPatrick

and ENO is otherwise consistent with

applicable provisions of law,

regulations, and orders issued by the

Commission, subject to the conditions

set forth below. The NRC staff has

further found that the application for

the proposed license amendment

complies with the standards and

requirements of the Atomic Energy Act

of 1954, as amended, and the

Commission’s rules and regulations set

forth in 10 CFR Chapter 1; the facility

will operate in conformity with the

application, the provisions of the Act

and the rules and regulations of the

Commission; there is reasonable

assurance that the activities authorized

by the proposed license amendment can

be conducted without endangering the

health and safety of the public, and that

such activities will be conducted in

compliance with the Commission’s

regulations; the issuance of the

proposed license amendment will not

be inimical to the common defense and

security or to the health and safety of

the public; and the issuance of the

proposed license amendment will be in

accordance with 10 CFR Part 51 of the

Commission’s regulations and all

applicable requirements have been

satisfied. The findings set forth above

are supported by the staff’s safety

evaluation dated November 9, 2000.

III.

Accordingly, pursuant to Sections

161b, 161i, 161o, and 184 of the Atomic

Energy Act of 1954, as amended, 42

U.S.C. 2201(b), 2201(i), 2201(o) and

2234, and 10 CFR 50.80, It Is Hereby

Ordered that the transfer of the license

as described herein and in the

application to Entergy Nuclear

FitzPatrick and ENO is approved,

subject to the following conditions:

(1) Before the completion of the sale

and transfer of FitzPatrick, Entergy

Nuclear FitzPatrick and ENO shall

provide the Director, Office of Nuclear

Reactor Regulation, satisfactory

documentary evidence that they have

obtained the appropriate amount of

insurance required of licensees under 10

CFR Part 140 of the Commission’s

regulations.

(2) For purposes of ensuring public

health and safety, Entergy Nuclear

FitzPatrick, upon the transfer of the

FitzPatrick license, shall provide

decommissioning funding assurance for

FitzPatrick by the prepayment or

equivalent method, to be held in a

decommissioning trust fund for the

facility, of no less than the amount

required under NRC regulations at 10

CFR 50.75. Any amount held in any

decommissioning trust maintained by

the Authority for FitzPatrick after the

transfer of the FitzPatrick license to

Entergy Nuclear FitzPatrick may be

credited towards the amount required

under this paragraph.

(3) If the assets of any

decommissioning trust maintained by

the Authority for FitzPatrick are

retained in such trust following the

transfer of the FitzPatrick license to

Entergy Nuclear FitzPatrick and ENO

instead of being transferred to any trust

established by Entergy Nuclear

FitzPatrick, the Authority shall maintain

the assets as retained in such trust in

accordance with the application for the

transfer of the FitzPatrick license.

(4) The decommissioning trust

agreement shall provide that the use of

assets in the decommissioning trust

fund, in the first instance, shall be

limited to the expenses related to

decommissioning FitzPatrick as defined

by the NRC in its regulations and

issuances, and as provided in the

FitzPatrick license and any amendments

thereto.

(5) The decommissioning trust

agreement shall provide that no

contribution to the decommissioning

trust that consists of property other than

liquid assets shall be permitted.

(6) With respect to the

decommissioning trust fund,

investments in the securities or other

obligations of the Authority, Entergy

Corporation, Entergy Nuclear IP3, LLC,

Entergy Nuclear FitzPatrick, ENO, or

affiliates thereof, or their successors or

assigns, shall be prohibited. Except for

investments that replicate the

composition of market indices or other

non-nuclear-sector mutual funds,

investments in any entity owning one or

more nuclear plants is prohibited.

(7) The decommissioning trust

agreement shall provide that no

disbursements or payments from the

trust, other than for ordinary

administrative expenses, shall be made

by the trustee until the trustee has first

given the NRC 30 days’ prior written

notice of the payment. In addition, the

trust agreement shall state that no

disbursements or payments from the

trust shall be made if the trustee

receives prior written notice of objection

from the Director, Office of Nuclear

Reactor Regulation.

(8) The decommissioning trust

agreement shall provide that the trust

agreement shall not be modified in any

material respect without the prior

written consent of the Director, Office of

Nuclear Reactor Regulation.

(9) The decommissioning trust

agreement shall provide that the

provisions or purpose of the trust

agreement may be enforced by the NRC

against the Authority and the trustee

with respect to the disbursement of the

trust funds to the extent necessary to

ensure compliance with or satisfaction

of the NRC’s decommissioning

Federal Register / Vol. 65, No. 229 / Tuesday, November 28, 2000 / Notices 70847

requirements. The NRC shall not be a

beneficiary of the trust or of any of the

trust funds, unless required by law to be

so for the sole purpose of enforcing the

provisions or purpose of the trust

agreement as set forth above.

(10) Article VI of the

decommissioning trust agreement shall

require that, notwithstanding the

provision of Section 6.01(ii)(a) of the

current decommissioning trust

agreement, PASNY may not terminate

any fund established under the Master

Trust for FitzPatrick except after

requesting and obtaining written

consent from the Director, Office of

Nuclear Reactor Regulation, or the

Director, Office of Nuclear Materials

Safety and Safeguards, as appropriate.

(11) Entergy Nuclear FitzPatrick,

ENO, or their successors or assigns shall

take no action that would adversely

affect any contract between it and the

Authority for the Authority’s eventual

payment of decommissioning funds

from the trust.

(12) Entergy Nuclear FitzPatrick and

ENO, or their successors or assigns shall

inform the NRC within 30 days of any

adverse developments with respect to

the Authority’s ownership of the

decommissioning trust that could

reasonably be expected to lead to a

significant diminution of funds

available for decommissioning

FitzPatrick.

(13) The appropriate section of the

decommissioning trust agreement shall

provide that the trustee, investment

advisor, or anyone else directing the

investments made in the trust shall

adhere to a ‘‘prudent investor’’ standard,

as specified in 18 CFR 35.32(a)(3) of the

Federal Energy Regulatory

Commission’s regulations.

(14) The Authority shall waive any

right to deny, contest or challenge the

NRC’s jurisdiction over the Authority

with respect to FitzPatrick to the extent

that there may arise in the future any

matter warranting action by the NRC to

ensure compliance with the NRC’s

decommissioning requirements

regarding the disposition and use of the

amounts accumulated in the

decommissioning trust fund and

retained by the Authority, and remain

subject to the Commission’s jurisdiction

under Section 161 of the Atomic Energy

Act to issue orders to protect health and

to minimize danger to life or property

regarding any and all matters

concerning compliance with the

Commission’s decommissioning

requirements regarding the disposition

and use of the amounts accumulated in

the decommissioning trust fund and

retained by the Authority, until such

time as the Authority transfers the

decommissioning trust fund to Entergy

Nuclear FitzPatrick or the

decommissioning of FitzPatrick has

been completed in accordance with

NRC regulations and guidance,

whichever occurs first.

(15) Entergy Nuclear FitzPatrick shall

take all necessary steps to ensure that

the decommissioning trust is

maintained in accordance with the

application for the transfer of the license

for FitzPatrick and the requirements of

this Order approving the transfer, and

consistent with the safety evaluation

supporting this Order.

(16) Entergy Nuclear FitzPatrick and

ENO shall take no action to cause

Entergy Global Investments, Inc. or

Entergy International Ltd. LLC, or their

parent companies, to void, cancel, or

modify the $70 million contingency

commitment to provide funding for the

FitzPatrick plant as represented in the

application, without the prior written

consent of the Director, Office of

Nuclear Reactor Regulation.

(17) After receiving all required

regulatory approvals of the transfer of

FitzPatrick, the transfer applicants shall

immediately inform the Director, Office

of Nuclear Reactor Regulation, in

writing of such receipt, and state therein

the closing date of the sale and transfer

of FitzPatrick. If the transfer of the

license is not completed by November 1,

2001, this Order shall become null and

void, provided, however, on written

application and for good cause shown,

this date may be extended.

It is Further Ordered that, consistent

with 10 CFR 2.1315(b), a license

amendment that makes changes, as

indicated in Enclosure 2 to the cover

letter forwarding this Order, to conform

the license to reflect the subject license

transfer is approved. The amendment

shall be issued and made effective at the

time the proposed license transfer is

completed.

This Order is effective upon issuance.

For further details with respect to this

Order, see the initial application

submitted under cover letters dated May

11 and May 12, 2000, and supplements

dated June 13, June 16, July 14,

September 21, October 26, and

November 3, 2000, and the safety

evaluation dated November 9, 2000,

which are available for public

inspection at the NRC’s Public

Document Room, located at One White

Flint North, 11555 Rockville Pike (first

floor), Rockville, Maryland and are

accessible electronically through the

ADAMS Public Electronic Reading

Room link at the NRC Web site (http:/

/www.nrc.gov).

Dated at Rockville, Maryland, this 9th day

of November 2000.

For the Nuclear Regulatory Commission.

Samuel J. Collins,

Director, Office of Nuclear Reactor

Regulation.

[FR Doc. 00–30284 Filed 11–27–00; 8:45 am]

BILLING CODE 7590–01–P

OVERSEAS PRIVATE INVESTMENT

CORPORATION

Public Hearing

AGENCY: Overseas Private Investment

Corporation.

ACTION: Notice of public hearing.

SUMMARY: This notice sets forth the

schedule and requirements for

participation in an annual public

hearing to be conducted by the Overseas

Private Investment Corporation (OPIC)

on December 7, 2000. This hearing is

required by the OPIC Amendments Act

of 1985, and this notice is being

published to facilitate public

participation. The notice also describes

OPIC and the subject matter of the

hearing.

DATES: The hearing will be held on

December 7, 2000, and will begin

promptly at 2:00 p.m. Prospective

participants must submit to OPIC before

close of business December 6, 2000,

notice of their intent to participate.

ADDRESSES: The location of the hearing

will be: Overseas Private Investment

Corporation, 1100 New York Avenue,

NW., 12th Floor, Washington, DC.

Notices and prepared statements should

be sent ot Richard C. Horanburg,

Overseas Private Investment

Corporation, 1100 New York Avenue,

NW., Washington, DC 20527 (e-mail at

rhoranburg@opic.gov or facsimile at

(202) 218–0179).

FOR FURTHER INFORMATION CONTACT:

Richard C. Horanburg, Overseas Private

Investment Corporation, 1100 New York

Avenue, NW., Washington, DC 20527,

(202)–336–8417, by e-mail at

rhoranburg@opic.gov, or by fascimile at

(202) 218–0179).

SUPPLEMENTARY INFORMATION:

Procedure

(a) Attendance; Participation. The

hearing will be open to the public.

However, a person wishing to present

views at the hearing must provide OPIC

with advance notice on or before

December 6, 2000. The notice must

include the name, address and

telephone number of the person who

will make the presentation, the name

and address of the organization which

the person represents (if any) and a