Federal Register / Vol. 62, No. 65 / Friday, April 4, 1997 / Notices 16213

1See Exempt. of Rail Abandonment—Offers of

Finan. Assist., 4 I.C.C.2d 164 (1987).

statement and may limit the time of any

oral presentation. Members of the public

may present written statements to the

Committee before or after any meeting.

Issued in Washington, DC on April 1, 1997.

Richard B. Felder,

Associate Administrator for Pipeline Safety.

[FR Doc. 97–8699 Filed 4–3–97; 8:45 am]

BILLING CODE 4910–60–U

DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Docket No. AB–3 (Sub–No. 140X) and

STB Docket No. AB–486 (Sub-No. 1X)]

Missouri Pacific Railroad Company—

Abandonment Exemption—in Cloud

and Jewell Counties, KS and Kyle

Railroad Company—Discontinuance

Exemption—in Cloud and Jewell

Counties, KS

AGENCY: Surface Transportation Board.

ACTION: Notice of exemptions.

SUMMARY: The Board under 49 U.S.C.

10502 exempts from the prior approval

requirements of 49 U.S.C. 10903 the

abandonment by Missouri Pacific

Railroad Company, and the

discontinuance of service by Kyle

Railroad Company, of the 33.4-mile Burr

Oak Branch line located between

milepost 496.3 at Jamestown and

milepost 529.7 (end of line) at Burr Oak,

in Cloud and Jewell Counties, KS,

subject to labor protective conditions

and an environmental condition.

DATES: Provided no formal expression of

intent to file an offer of financial

assistance (OFA) has been received, this

exemption will be effective on May 4,

1997. Formal expressions of intent to

file an OFA 1 under 49 CFR

1152.27(c)(2) and requests for interim

trail use/rail banking under 49 CFR

1152.29 must be filed by April 14, 1997;

petitions to stay must be filed by April

21, 1997; requests for a public use

condition under 49 CFR 1152.28 must

be filed by April 24, 1997; and petitions

to reopen must be filed by April 29,

1997.

ADDRESSES: Send pleadings referring to

STB Docket Nos. AB–3 (Sub-No. 140X)

and AB–486 (Sub-No. 1X) to: (1) Office

of the Secretary, Case Control Unit,

Surface Transportation Board, 1925 K

Street, N.W., Washington, DC 20423–

0001, and (2) Joseph D. Anthofer, Union

Pacific Railroad Company, 1416 Dodge

Street (#830), Omaha, NE 68179–0001

and Fritz R. Kahn, Suite 750 West, 1100

New York Avenue, NW., Washington,

DC 20005–3934.

FOR FURTHER INFORMATION CONTACT:

Joseph H. Dettmar, (202) 565–1609.

(TDD for the hearing impaired: (202)

565–1695.)

SUPPLEMENTARY INFORMATION:

Additional information is contained in

the Board’s decision. To purchase a

copy of the full decision, write to, call,

or pick up in person from: DC News &

Data, Inc., 1925 K Street, NW., Suite

210, Washington, DC 20006. Telephone:

(202) 289–4357. (Assistance for the

hearing impaired is available through

TDD services (202) 565–1695.)

Decided: April 1, 1997.

By the Board, Chairman Morgan and Vice

Chairman Owen.

Vernon A. Williams,

Secretary.

[FR Doc. 97–8776 Filed 4–3–97; 8:45 am]

BILLING CODE 4915–00–P

DEPARTMENT OF THE TREASURY

Federal Law Enforcement Training

Center

AGENCY: Advisory Committee to the

National Center for State, Local, and

International Law Enforcement

Training.

ACTION: Notice of meeting.

SUMMARY: The agenda for this meeting

includes remarks by Charles Rinkevich,

Director of the Federal Law Enforcement

Training Center (FLETC); Elizabeth

Bresee and Laurie Robinson, Committee

Co-chairs; and presentations regarding

the Small Town and Rural Training

Series (STAR); Export Training Sites

System; Fellowship Program; RCMP

Faculty Exchange Program, and

Leadership Program.

DATES: April 10, 1997.

ADDRESSES: Federal Law Enforcement

Training Center, Glynco, Georgia.

FOR FURTHER INFORMATION CONTACT:

Hobart M. Henson, Director, National

Center for State, Local, and International

Law Enforcement Training, Federal Law

Enforcement Training Center, Glynco,

Georgia 31524, 1–800–743–5382.

Dated: March 27, 1997.

Steve Kernes,

Acting Director, National Center for State,

Local, and International Law Enforcement

Training.

[FR Doc. 97–8628 Filed 4–3–97; 8:45 am]

BILLING CODE 4810–32–M

Office of the Comptroller of the

Currency

[Docket No. 97–07]

Operating Subsidiary Notice

AGENCY: Office of the Comptroller of the

Currency, Treasury.

ACTION: Notice and request for comment

on an operating subsidiary.

SUMMARY: The Office of the Comptroller

of the Currency (OCC) requests

comment concerning an application

filed by NationsBank, National

Association, Charlotte, North Carolina,

to engage in limited real estate

development activities in connection

with bank premises through an

operating subsidiary of the bank.

DATES: Comments should be submitted

on or before May 5, 1997.

ADDRESSES: Written comments

regarding the application should be sent

to the Office of the Comptroller of the

Currency, Communications Division,

250 E Street, SW, Third Floor,

Washington, DC 20219, Attn: Docket

No. 97–07. In addition, comments may

be sent by facsimile transmission to fax

number (202) 874–5274 or by internet

mail to

REGS.COMMENTS@OCC.TREAS.GOV.

A copy of the application will be

available for inspection and copying at

the OCC’s Public Reference Room, 250

E Street, SW, Washington, DC 20219,

through the OCC’s Information Line at

(202) 479–0141, or through the OCC’s

web site at HTTP://

WWW.OCC.TREAS.GOV. Appointments

for inspection of comments or the

application can be made by calling (202)

874–5043.

FOR FURTHER INFORMATION CONTACT:

William B. Glidden, Assistant Director,

Bank Activities and Structure Division,

(202) 874–5300, or Robert Sihler, Senior

Bank Structure Analyst, Bank

Organization and Structure, (202) 874–

5060.

SUPPLEMENTARY INFORMATION: A national

bank may establish or acquire an

operating subsidiary to conduct, or may

conduct in an existing operating

subsidiary, activities that are part of or

incidental to the business of banking, as

determined by the OCC pursuant to 12

U.S.C. 24 (Seventh), and other activities

permissible for national banks or their

subsidiaries under other statutory

authority. Section 5.34(d) of 12 CFR part

5 authorizes the OCC to permit a

national bank to conduct an activity

through its operating subsidiary that is

different from that permissible for the

parent national bank, subject to the

additional requirements specified in 12
16214 Federal Register / Vol. 62, No. 65 / Friday, April 4, 1997 / Notices

CFR 5.34(f). For activities not previously

approved by the OCC, the OCC provides

public notice and opportunity for

comment on the application by

publishing notice of the application in

the Federal Register.

NationsBank, National Association,

Charlotte, North Carolina, has applied to

the OCC pursuant to 12 CFR 5.34(f) to

establish an operating subsidiary.

NationsBank’s application generally

describes the activities in which the

operating subsidiary will engage as

follows:

The subsidiary will engage in the

development of real estate in locations

that the bank already occupies through

the maintenance of bank premises, in

order to gain increased flexibility in

enhancing its premises locations by

making them economically more

vibrant. The subsidiary will be subject

to the safeguards specified in 12 CFR

5.34(f). The bank further states that such

flexibility will better enable it to

contribute to the communities in which

it operates as well as to make a safer,

more pleasant work environment for

employees and customers. The bank is

currently considering sponsoring the

development of a building to be located

in Charlotte which would house

approximately 45 residential

condominium units. Most of the land on

which the apartment building will be

constructed has been owned for over 25

years by the bank and was the site of a

bank branch. NationsBank is now in the

process of constructing an office

building on the site to be used as bank

premises. The value of the office

building and land is estimated to be $56

million, and the cost of constructing the

residential building is estimated to be

$13 million. Thus, the bank states that

the residential building will be ancillary

to its office building, and that both

buildings will form an integrated mixeduse development with shared parking.

Future projects are expected to be

limited in number and in all cases will

be confined to areas adjacent to or near

bank premises. These projects may

include the construction of an office

building, retail space or a residential

building. In order to ensure that the

subsidiary’s activities remain consistent

with the parameters described above,

NationsBank states that it will submit a

detailed description of each future

project to the OCC for prior approval.

The OCC reviews operating subsidiary

applications to determine whether the

proposed activities are legally

permissible for an operating subsidiary

and to ensure that the proposal is

consistent with safe and sound banking

practices and OCC policy and does not

endanger the safety or soundness of the

parent national bank. In publishing

notice of the application, the OCC does

not take a position on issues raised by

the proposal. Notice is published solely

to seek the views of interested persons

on the issues presented and does not

represent a determination by the OCC

that the proposal meets, or is likely to

meet, the criteria outlined above.

Interested parties are invited to

comment on any aspect of the

application.

Dated: March 31, 1997.

Eugene A. Ludwig,

Comptroller of the Currency.

[FR Doc. 97–8572 Filed 4–3–97; 8:45 am]

BILLING CODE 4810–33–P

[Docket No. 97–06]

Operating Subsidiary Notice

AGENCY: Office of the Comptroller of the

Currency, Treasury.

ACTION: Notice and request for comment

on an operating subsidiary.

SUMMARY: The Office of the Comptroller

of the Currency (OCC) requests

comment concerning an application

filed by NationsBank, National

Association, Charlotte, North Carolina,

to engage in real estate lease financing

through an operating subsidiary of the

bank.

DATES: Comments should be submitted

on or before May 5, 1997.

ADDRESSES: Written comments

regarding the application should be sent

to the Office of the Comptroller of the

Currency, Communications Division,

250 E Street, SW., Third Floor,

Washington, DC 20219, Attn: Docket

No. 97–06. In addition, comments may

be sent by facsimile transmission to fax

number (202) 874–5274 or by internet

mail to

REGS.COMMENTS@OCC.TREAS.GOV.

A copy of the application will be

available for inspection and copying at

the OCC’s Public Reference Room, 250

E Street, SW., Washington, DC 20219,

through the OCC’s Information Line at

(202) 479–0141, or through the OCC’s

web site at HTTP://

WWW.OCC.TREAS.GOV. Appointments

for inspection of comments or the

application can be made by calling (202)

874–5043.

FOR FURTHER INFORMATION CONTACT:

William B. Glidden, Assistant Director,

Bank Activities and Structure Division,

(202) 874–5300, or Robert Sihler, Senior

Bank Structure Analyst, Bank

Organization and Structure, (202) 874–

5060.

SUPPLEMENTARY INFORMATION: A national

bank may establish or acquire an

operating subsidiary to conduct, or may

conduct in an existing operating

subsidiary, activities that are part of or

incidental to the business of banking, as

determined by the OCC pursuant to 12

U.S.C. 24(Seventh), and other activities

permissible for national banks or their

subsidiaries under other statutory

authority. Section 5.34(d) of 12 CFR part

5 authorizes the OCC to permit a

national bank to conduct an activity

through its operating subsidiary that is

different from that permissible for the

parent national bank, subject to the

additional requirements specified in 12

CFR 5.34(f). For activities not previously

approved by the OCC, the OCC provides

public notice and opportunity for

comment on the application by

publishing notice of the application in

the Federal Register.

NationsBank, National Association,

Charlotte, North Carolina, has applied to

the OCC pursuant to 12 CFR 5.34(f) to

establish an operating subsidiary.

NationsBank’s application generally

describes the activities in which the

operating subsidiary will engage as

follows:

The subsidiary will engage in real

estate lease financing transactions on a

nationwide basis, subject to the

safeguards specified in 12 CFR 5.34(f)

and certain limitations designed to

minimize the risk to the subsidiary and

the bank. In particular, the transactions

will be on a ‘‘nonoperating’’ basis and

for an initial term of at least 90 days.

The leases will be ‘‘full payout’’ leases

designed to yield a return that will

compensate the subsidiary for not less

than its full investment in the real

property plus the estimated total cost of

financing the property over the term of

the lease from rental payments,

estimated tax benefits, and the

estimated residual value of the property

at the expiration of the initial term. For

purposes of determining whether a

given lease is a full payout lease, the

estimated residual value of the property

will not exceed 25 percent of the

acquisition cost of the property to the

subsidiary. The subsidiary will acquire

real property only in connection with a

proposed leasing transaction. Thus, it

will not acquire real property in

anticipation of leasing the property at a

later date. If upon termination or

expiration of the lease the lessee does

not acquire the real property, the

subsidiary either will enter into a new

lease agreement with the lessee or with

a third party or will reclassify the

property as OREO and dispose of the

property in accordance with OCC OREO