5904 Federal Register / Vol. 75, No. 24 / Friday, February 5, 2010 / Proposed Rules 

of default, the government has first 

rights on the asset. Upon application 

and throughout the term of the 

guarantee, guaranteed lenders not 

subject to collateral pledging 

requirements shall identify, with the 

concurrence of the Secretary, specific 

assets to be held as collateral should the 

credit rating of its senior secured debt, 

or its corporate credit rating, as 

applicable, without regard to the 

guarantee fall below ‘‘A¥.’’ The 

Secretary has discretion to require 

collateral at any time should 

circumstances warrant. 

* * * * * 

5. Amend § 1720.5 by revising 

paragraphs (a)(1) and (b)(1) to read as 

follows: 

§ 1720.5 Eligibility criteria. 

(a) * * * 

(1) A bank or other lending institution 

organized as a private, not-for-profit 

cooperative association, or otherwise 

organized on a non-profit basis; and 

* * * * * 

(b) * * * 

(1) The guaranteed lender must 

furnish the Secretary with a certified list 

of the principal balances of eligible 

loans then outstanding and certify that 

such aggregate balance is at least equal 

to the sum of the proposed principal 

amount of guaranteed bonds to be 

issued, and any previously issued 

guaranteed bonds outstanding; and 

* * * * * 

6. Amend § 1720.6 by revising 

paragraph (a)(7) to read as follows: 

§ 1720.6 Application process. 

(a) * * * 

(7) Evidence of a credit rating, from a 

Rating Agency, on its senior secured 

debt or its corporate credit rating, as 

applicable, without regard to the 

government guarantee and satisfactory 

to the Secretary; and 

* * * * * 

7. Amend § 1720.7 by revising 

paragraphs (b)(3) and (4), adding new 

paragraphs (b)(5) and (6), and revising 

paragraph (d) to read as follows: 

§ 1720.7 Application evaluation. 

* * * * * 

(b) * * * 

(3) The applicant’s demonstrated 

performance of financially sound 

business practices as evidenced by 

reports of regulators, auditors and credit 

rating agencies; 

(4) The extent to which the applicant 

is subject to supervision, examination, 

and safety and soundness regulation by 

an independent federal agency; 

(5) The extent of concentration of 

financial risk that RUS may have 

resulting from previous guarantees 

made under Section 313A of the RE Act; 

and 

(6) The extent to which providing the 

guarantee to the applicant will help 

reduce the cost and/or increase the 

supply of credit to rural America, or 

generate other economic benefits, 

including the amount of fee income 

available to be deposited into the Rural 

Economic Development Subaccount, 

maintained under section 313(b)(2)(A) 

of the RE Act (7 U.S.C. 940c(b)(2)(A)), 

after payment of the subsidy amount. 

* * * * * 

(d) Decisions by the Secretary. The 

Secretary shall approve or deny 

applications in a timely manner as such 

applications are received; provided, 

however, that in order to facilitate 

competitive evaluation of applications, 

the Secretary may from time to time 

defer a decision until more than one 

application is pending. The Secretary 

may limit the number of guarantees 

made to a maximum of five per year, to 

ensure a sufficient examination is 

conducted of applicant requests. RUS 

shall notify the applicant in writing of 

the Secretary’s approval or denial of an 

application. Approvals for guarantees 

shall be conditioned upon compliance 

with 7 CFR 1720.4 and 1720.6 of this 

part. The Secretary reserves the 

discretion to approve an application for 

an amount less than that requested. 

8. Amend § 1720.8 by revising 

paragraphs (a)(3), (4), and (8) to read as 

follows: 

§ 1720.8 Issuance of the guarantee. 

(a) * * * 

(3) Prior to the issuance of the 

guarantee, the applicant must certify to 

the Secretary that the proceeds from the 

guaranteed bonds will be applied to 

fund new eligible loans under the RE 

Act, to refinance concurrent loans, or to 

refinance existing debt instruments of 

the guaranteed lender used to fund 

eligible loans; 

(4) The applicant provides a certified 

list of eligible loans and their 

outstanding balances as of the date the 

guarantee is to be issued; 

* * * * * 

(8) The applicant shall provide 

evidence of a credit rating on its senior 

secured debt or its corporate credit 

rating, as applicable, without regard to 

the guarantee and satisfactory to the 

Secretary; and 

* * * * * 

9. Amend § 1720.12 by revising 

paragraph (a)(5) to read as follows: 

§ 1720.12 Reporting requirements. 

(a) * * * 

(5) Credit rating, by a Rating Agency, 

on its senior secured debt or its 

corporate credit rating, as applicable, 

without regard to the guarantee and 

satisfactory to the Secretary; and 

* * * * * 

10. Revise § 1720.13 to read as 

follows: 

§ 1720.13 Limitations on guarantees. 

In a given year the maximum amount 

of guaranteed bonds that the Secretary 

may approve will be subject to budget 

authority, together with receipts 

authority from projected fee collections 

from guaranteed lenders, the principal 

amount of outstanding eligible loans 

made by the guaranteed lender, and 

Congressionally-mandated ceilings on 

the total amount of credit. The Secretary 

may also impose other limitations as 

appropriate to administer this guarantee 

program. 

Dated: January 8, 2010. 

Jonathan Adelstein, 

Administrator, Rural Utilities Service. 

[FR Doc. 2010–2402 Filed 2–4–10; 8:45 am] 

BILLING CODE 3410–15–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2009–1179; Airspace 

Docket No. 09–ASW–35] 

Proposed Amendment of Class E 

Airspace; Magnolia, AR 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice of proposed rulemaking 

(NPRM). 

SUMMARY: This action proposes to 

amend Class E airspace at Magnolia, AR. 

Decommissioning of the Magnolia nondirectional beacon (NDB) at Magnolia 

Municipal Airport, Magnolia, AR, has 

made this action necessary for the safety 

and management of Instrument Flight 

Rules (IFR) operations at Magnolia 

Municipal Airport. 

DATES: Comments must be received on 

or before March 22, 2010. 

ADDRESSES: Send comments on this 

proposal to the U.S. Department of 

Transportation, Docket Operations, 1200 

New Jersey Avenue, SE., West Building 

Ground Floor, Room W12–140, 

Washington, DC 20590–0001. You must 

identify the docket number FAA–2009– 

1179/Airspace Docket No. 09–ASW–35, 

at the beginning of your comments. You 

may also submit comments through the 

Internet at http://www.regulations.gov. 

WReier-Aviles on DSKGBLS3C1PROD with PROPOSALS

Federal Register / Vol. 75, No. 24 / Friday, February 5, 2010 / Proposed Rules 5905 

You may review the public docket 

containing the proposal, any comments 

received, and any final disposition in 

person in the Dockets Office between 9 

a.m. and 5 p.m., Monday through 

Friday, except Federal holidays. The 

Docket Office (telephone 1–800–647– 

5527), is on the ground floor of the 

building at the above address. 

FOR FURTHER INFORMATION CONTACT: 

Scott Enander, Central Service Center, 

Operations Support Group, Federal 

Aviation Administration, Southwest 

Region, 2601 Meacham Blvd., Fort 

Worth, TX 76137; telephone: (817) 

321–7716. 

SUPPLEMENTARY INFORMATION: 

Comments Invited 

Interested parties are invited to 

participate in this proposed rulemaking 

by submitting such written data, views, 

or arguments, as they may desire. 

Comments that provide the factual basis 

supporting the views and suggestions 

presented are particularly helpful in 

developing reasoned regulatory 

decisions on the proposal. Comments 

are specifically invited on the overall 

regulatory, aeronautical, economic, 

environmental, and energy-related 

aspects of the proposal. 

Communications should identify both 

docket numbers and be submitted in 

triplicate to the address listed above. 

Commenters wishing the FAA to 

acknowledge receipt of their comments 

on this notice must submit with those 

comments a self-addressed, stamped 

postcard on which the following 

statement is made: ‘‘Comments to 

Docket No. FAA–2009–1179/Airspace 

Docket No. 09–ASW–35.’’ The postcard 

will be date/time stamped and returned 

to the commenter. 

Availability of NPRMs 

An electronic copy of this document 

may be downloaded through the 

Internet at http://www.regulations.gov. 

Recently published rulemaking 

documents can also be accessed through 

the FAA’s Web page at http:// 

www.faa.gov/airports_airtraffic/ 

air_traffic/publications/ 

airspace_amendments/. 

Additionally, any person may obtain 

a copy of this notice by submitting a 

request to the Federal Aviation 

Administration (FAA), Office of Air 

Traffic Airspace Management, ATA– 

400, 800 Independence Avenue, SW., 

Washington, DC 20591, or by calling 

(202) 267–8783. Communications must 

identify both docket numbers for this 

notice. Persons interested in being 

placed on a mailing list for future 

NPRMs should contact the FAA’s Office 

of Rulemaking (202) 267–9677, to 

request a copy of Advisory Circular No. 

11–2A, Notice of Proposed Rulemaking 

Distribution System, which describes 

the application procedure. 

The Proposal 

This action proposes to amend Title 

14, Code of Federal Regulations (14 

CFR), Part 71 by amending Class E 

airspace extending upward from 700 

feet above the surface for standard 

instrument approach procedures at 

Magnolia Municipal Airport, Magnolia, 

AR. Airspace reconfiguration is 

necessary due to the decommissioning 

of the Magnolia NDB and the 

cancellation of the NDB approach. 

Adjustment to the geographic 

coordinates would be made in 

accordance with the FAAs National 

Aeronautical Charting Office. Controlled 

airspace is needed for the safety and 

management of IFR operations at the 

airport. 

Class E airspace areas are published 

in Paragraph 6005 of FAA Order 

7400.9T, dated August 27, 2009, and 

effective September 15, 2009, which is 

incorporated by reference in 14 CFR 

71.1. The Class E airspace designation 

listed in this document would be 

published subsequently in the Order. 

The FAA has determined that this 

proposed regulation only involves an 

established body of technical 

regulations for which frequent and 

routine amendments are necessary to 

keep them operationally current. It, 

therefore, (1) Is not a ‘‘significant 

regulatory action’’ under Executive 

Order 12866; (2) is not a ‘‘significant 

rule’’ under DOT Regulatory Policies 

and Procedures (44 FR 11034; February 

26, 1979); and (3) does not warrant 

preparation of a Regulatory Evaluation 

as the anticipated impact is so minimal. 

Since this is a routine matter that will 

only affect air traffic procedures and air 

navigation, it is certified that this rule, 

when promulgated, will not have a 

significant economic impact on a 

substantial number of small entities 

under the criteria of the Regulatory 

Flexibility Act. 

The FAA’s authority to issue rules 

regarding aviation safety is found in 

Title 49 of the U.S. Code. Subtitle 1, 

Section 106 describes the authority of 

the FAA Administrator. Subtitle VII, 

Aviation Programs, describes in more 

detail the scope of the agency’s 

authority. This rulemaking is 

promulgated under the authority 

described in Subtitle VII, Part A, 

Subpart I, Section 40103. Under that 

section, the FAA is charged with 

prescribing regulations to assign the use 

of airspace necessary to ensure the 

safety of aircraft and the efficient use of 

airspace. This regulation is within the 

scope of that authority as it would 

amend controlled airspace at Magnolia 

Municipal Airport, Magnolia, AR. 

List of Subjects in 14 CFR Part 71 

Airspace, Incorporation by reference, 

Navigation (Air). 

The Proposed Amendment 

In consideration of the foregoing, the 

Federal Aviation Administration 

proposes to amend 14 CFR Part 71 as 

follows: 

PART 71—DESIGNATION OF CLASS A, 

B, C, D, AND E AIRSPACE AREAS; AIR 

TRAFFIC SERVICE ROUTES; AND 

REPORTING POINTS 

1. The authority citation for part 71 

continues to read as follows: 

Authority: 49 U.S.C. 106(g); 40103, 40113, 

40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959– 

1963 Comp., p. 389. 

§ 71.1 [Amended] 

2. The incorporation by reference in 

14 CFR 71.1 of FAA Order 7400.9T, 

Airspace Designations and Reporting 

Points, signed August 27, 2009, and 

effective September 15, 2009, is 

amended as follows: 

Paragraph 6005 Class E Airspace areas 

extending upward from 700 feet or more 

above the surface of the earth. 

* * * * * 

ASW AR E5 Magnolia, AR [Amended] 

Magnolia Municipal Airport, AR 

(Lat. 33°13′39′′ N., long. 93°13′01′′ W.) 

That airspace extending upward from 700 

feet above the surface within a 6.4-mile 

radius of Magnolia Municipal Airport. 

* * * * * 

Issued in Fort Worth, TX, on January 26, 

2010. 

Ronnie Uhlenhaker, 

Acting Manager, Operations Support Group, 

ATO Central Service Center. 

[FR Doc. 2010–2544 Filed 2–4–10; 8:45 am] 

BILLING CODE 4901–13–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2009–0538; Airspace 

Docket No. 09–ASW–15] 

Proposed Amendment of Class E 

Airspace; Claremore, OK 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

WReier-Aviles on DSKGBLS3C1PROD with PROPOSALS