Federal Register / Vol. 63, No. 138 / Monday, July 20, 1998 / Notices 38869

7This price would apply to all prior backlog

collections as well as the annual backlog collection

for 1997 and future annual backlog collections.

Telephone conversation with Ernesto A. Lanza,

Assistant General Counsel, Board, and Karl Varner,

Attorney, SEC, on July 2, 1998.

8Securities Exchange Act Release No. 28197 (July

12, 1990), 55 FR 29436 (July 19, 1990).

9 15 U.S.C. 78o(b)(2)(C).

10 15 U.S.C. 78s(b)(3)(A)(ii).

11 In reviewing this proposal, the Commission has

considered the proposed rule change’s impact on

efficiency, competition, and capital formation. 15

U.S.C. 78c(f). 12 17 CFR 200.30–3(a)(12).

magneto-optical disk or digital audio

tape (DAT). This change in media has

made the cost of selling annual backlog

collections more even. Thus, the Board

is establishing a price of $8,000 (plus

delivery or postage charges) for each

annual backlog collection.7

In its prior filings with the

Commission, the Board stated that it

intends to use its general revenues to

help fund collecting, indexing and

storing the OS/ARD subsystem’s

documents. However, the Board stated

its intention that the costs of producing

paper and electronic copies would be

completely covered by user fees.8 The

Board is changing the fees for the

annual backlog collectiuons to defray its

cost of disseminating the electronic

collections in a manner that reflects the

change in cost to the Board resulting

from the use of new media and in-house

imaging. This is consistent with the

Commission’s policy that self-regulatory

organizations’ fees be based on expenses

incurred in providing information to the

public. The Board believes that

employing cost-based prices is in the

public interest since it will ensure that

a complete collection of vital

information will be available, at fair and

responsible prices, for the life of the

municipal securities.

2. Statutory Basis

The Board believes the proposed rule

change is consistent with Section

15B(b)(2)(C) of the Act,9 which requires,

in pertinent part, that the Board’s rules:

Be designed to prevent fraudulent and

manipulative acts and practices, to promote

just and equitable principles of trade, to

foster cooperation and coordination with

persons engaged in regulating, clearing,

settling, processing information with respect

to, and facilitating transactions in municipal

securities, to remove impediments to and

perfect the mechanism of free and open

market in municipal securities, and, in

general, to protect investors and the public

interest.

The MSIL system is designed to

increase the integrity and efficiency of

the municipal securities market by,

among other things, helping to ensure

that the price charged for an issue in the

secondary market reflects all available

official information about that issue.

The Board believes the new annual

backlog fee is fair and reasonable in

light of the costs associated with

disseminating the information and the

services provided by the MSIL system

are available on reasonable and

nondiscriminatory terms to any

interested person.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

The Board does not believe that the

proposed rule change will impose any

burden on competition not necessary or

appropriate in furtherance of the

purposes of the Act.

C. Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants, or Others

Written comments were neither

solicited nor received.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

The rule change became effective on

June 16, 1998, pursuant to Section

19(b)(3)(A)(ii) of the Act,10 because the

proposal establishes a fee. At any time

within sixty days of the filing of the

proposed rule change, the Commission

may summarily abrogate such rule

change if its appears to the Commission

that such action is necessary or

appropriate in the public interest, for

the protection of investors, or otherwise

in furtherance of the purposes of the

Act.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments concerning the foregoing,

including whether the proposed rule

change is consistent with the Act.11

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of the

submission, all subsequent

amendments, all written statements

with respect to the proposed rule

change that are filed with the

Commission, and all written

communications relating to the

proposed rule change between the

Commission and any person, other than

those that may be withheld from the

public in accordance with the

provisions of 5 U.S.C. § 552, will be

available for inspection and copying in

the Commission’s Public Reference

Room. Copies of the filing will also be

available for inspection and copying at

the Board’s principal offices. All

submissions should refer to File No.

SR–MSRB–98–7 and should be

submitted by August 10, 1998.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.12

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–19181 Filed 7–17–98; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

Public Meeting

AGENCY: Small Business Administration.

ACTION: Notice of a Public Meeting on

multi-Lender securitizations of the

unguaranteed portion of SBA loans

made under Section 7(a) of the Small

Business Act.

SUMMARY: SBA is modifying its Interim

Final Rule regarding financing and

securitizing the unguaranteed portions

of loans made under Section 7(a) of the

Small Business Act. In its proposed

rule, published May 18, 1998, SBA

specifically sought comments during the

60-day comment period to assist in

developing a proposal for multi-Lender

securitizations. (See 63 FR 27219)

Before developing such a proposal, SBA

will hold a public meeting to gather a

broad spectrum of ideas. Neither this

meeting nor any written suggestions

received after July 17, 1998, will be part

of the record for the proposed rule

published on May 18th.

DATES: July 30, 1998, 2 p.m. to 5 p.m.

ADDRESSES: Eisenhower Conference

Room, U.S. Small Business

Administration, 409 3rd Street, S.W.,

Washington, D.C. 20416.

FOR FURTHER INFORMATION CONTACT:

James W. Hammersley, Director,

Secondary Market Sales, (202) 205–

7505.

SUPPLEMENTARY INFORMATION: SBA

posed several questions relating to

multi-Lender securitizations in its May

18th Notice of Proposed Rulemaking.

(See 63 FR 27219) In addition to those

questions, SBA would like attendees to

consider the following issues:

(1) What are the possible ways for a

lender to retain an economic interest

when securitizing through a multiLender structure?

(2) How can SBA connect the

performance of securitizing lenders to

the required retained economic interest

in a multi-Lender structure?

(3) How should SBA manage the

participation in the Preferred Lender
38870 Federal Register / Vol. 63, No. 138 / Monday, July 20, 1998 / Notices

Program for those lenders securitizing

through a multi-Lender structure?

(4) How can SBA establish regulations

that provide a structure for conduit

transactions yet allow for other structure

for multi-Lender securitizations?

(5) Should entities that sponsor multiLender securitization structures be

regulated by SBA? If so, how?

To encourage the free exchange of

ideas, the public meeting will be in the

form of a round-table discussion.

Anyone wishing to submit written

suggestions should send them to Jane

Palsgrove Butler, Acting Associate

Administrator for Financial Assistance,

U.S. Small Business Administration,

409 3rd Street, S.W., Suite 8200,

Washington, D.C. 20416.

The public meeting will take place at

the Small Business Administration

Office at 409 3rd Street, S.W.,

Washington, D.C. 20417. The meeting

will be held on July 30, 1998, from 2

p.m. to 5 p.m.

Dated: July 14, 1998.

Jane Palsgrove Butler,

Acting Associate Administrator for Financial

Assistance.

[FR Doc. 98–19147 Filed 7–17–98; 8:45 am]

BILLING CODE 8025–01–U

SMALL BUSINESS ADMINISTRATION

Region IX—Honolulu District Advisory

Council; Public Hearing

The Small Business Administration

Region IX Honolulu District Advisory

Council located in the geographical area

of Honolulu, Hawaii, will hold a public

meeting at 9:30 a.m. on Thursday, July

30, 1998 at the Business Information

and Counseling Center, 111 Bishop

Street, Suite 204, Training Center,

Honolulu, HI 96813, to discuss such

matters as may be presented by

members, staff of the Small Business

Administration, or others present.

For further information, write or call:

Andrew K. Poepoe, District Director,

U.S. Small Business Administration,

300 Ala Moana Boulevard, Room 2–235,

Honolulu, Hawaii 96850–4981, (808)

541–2965.

Dated: July 15, 1998.

Shirl Thomas,

Director, Office of External Affairs.

[FR Doc. 98–19235 Filed 7–17–98; 8:45 am]

BILLING CODE 8025–01–P

SMALL BUSINESS ADMINISTRATION

Wisconsin State Advisory Council;

Public Hearing

The U.S. Small Business

Administration Wisconsin State

Advisory Council, located in the

geographical area of Milwaukee,

Wisconsin, will hold a public meeting

from 12:00 p.m. to 1:00 p.m., July 16,

1998 at Metro Milwaukee Area Chamber

(MMAC) Association of Commerce

Building; 756 North Milwaukee Street,

Fourth Floor, Milwaukee, Wisconsin to

discuss such matters as may be

presented by members, staff of the U.S.

Small Business Administration, or

others present.

For further information, write or call

Yolanda Lassiter, U.S. Small Business

Administration, 310 West Wisconsin

Avenue Milwaukee, Wisconsin 53203;

(414) 297–1092.

Dated: July 15, 1998.

Shirl Thomas,

Director, Office of External Affairs.

[FR Doc. 98–19237 Filed 7–17–98; 8:45 am]

BILLING CODE 8025–01–P

DEPARTMENT OF TRANSPORTATION

Office of the Secretary

Notification Requirements Concerning

Substantial Changes in Ownership and

Operations

AGENCY: Office of the Secretary, DOT.

ACTION: Notice.

SUMMARY: The Department of

Transportation reminds all air carriers

holding authority for which a fitness

finding is required to comply with the

notification requirements of 14 CFR

204.5 concerning a change in ownership

or a filing of a petition or a plan of

reorganization under Chapter 11 of the

U.S. Bankruptcy Code, and to

accompany such written notification

with information in support of the

carrier’s continuing fitness. The

Department also requests that those

carriers provide the Department with a

minimum 30-day advance notification

of any proposed substantial change in

ownership, whether or not the change is

part of a restructuring or recapitalization

of a debtor-air carrier under a Chapter

11 plan of reorganization.

FOR FURTHER INFORMATION CONTACT:

Carol A. Woods, Air Carrier Fitness

Division, X–56, Department of

Transportation, 400 Seventh Street,

SW., Washington, DC 20590, (202) 366–

9721.

Patrick V. Murphy,

Deputy Assistant Secretary for Aviation and

International Affairs.

[FR Doc. 98–19299 Filed 7–17–98; 8:45 am]

BILLING CODE 4910–62–P

DEPARTMENT OF TRANSPORTATION

Aviation Proceedings, Agreements

Filed During the Week Ending July 10,

1998

The following Agreements were filed

with the Department of Transportation

under the provisions of 49 U.S.C.

Sections 412 and 414. Answers may be

filed within 21 days of date of filing.

Docket Number: OST–98–4036.

Date Filed: July 9, 1998.

Parties: Members of the International

Air Transport Association.

Subject: PTC2 ME–AFR 0016 dated

June 30, 1998, Middle East—Africa

Resos r1–18, PTC2 ME–AFR 0017 dated

June 30, 1998—Minutes, PTC2 ME—

AFR Fares 0013 dated July 7, 1998—

Tables, Intended effective date: October

1, 1998.

Docket Number: OST–98–4037.

Date Filed: July 9, 1998.

Parties: Members of the International

Air Transport Association.

Subject: PTC2 EUR–ME 0057 dated

July 7, 1998 r1–8,PTC2 EUR–ME 0058

dated July 7, 1998 r9, Europe—Middle

East Expedited Resolutions, Intended

effective date: as early as August 15,

1998.

Docket Number: OST–98–4038.

Date Filed: July 9, 1998.

Parties: Members of the International

Air Transport Association.

Subject: PTC3 Telex Mail Vote 949,

Taiwan-Japan fares, r1—first class fares,

r2—intermediate class fares, PTC3 Telex

Mail Vote 950, Thailand—Viet Nam

fares, r3—reso 010r, Intended effective

date: September 1, 1998 (MV949), July

27, 1998 (MV950).

Dorothy W. Walker,

Federal Register Liaison.

[FR Doc. 98–19298 Filed 7–17–98; 8:45 am]

BILLING CODE 4910–62–P

DEPARTMENT OF TRANSPORTATION

Notice of Applications for Certificates

of Public Convenience and Necessity

and Foreign Air Carrier Permits Filed

Under Subpart Q During the Week

Ending July 10, 1998

The following Applications for

Certificates of Public Convenience and

Necessity and Foreign Air Carrier