### 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.


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

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.