Federal Register / Vol. 66, No. 81 / Thursday, April 26, 2001 / Notices 21021

funding plans that include credit lines that

are accessible on a timely basis. This may be

accomplished with a corporate credit union

or other source. The appropriateness of

granting a CLF advance depends on the

circumstances of the credit union at the time

of the liquidity need. Appropriate

circumstances for seeking CLF advances may

include, but are not limited to, borrowing:

• To meet an unexpected loss in shares or

nonmember funds;

• To address an unexpected surge of credit

demands within the credit union’s

membership; and

• To meet liquidity needs due to forces

beyond the immediate control of the credit

union such as an internal operating problem

or a natural disaster.

Among other circumstances, borrowing

from CLF is not appropriate:

• To take advantage of a differential

between the rate of a CLF advance and the

rate of alternative sources of funds known as

spread arbitrage;

• To substitute CLF credit for normal,

short-term, interest-sensitive shares such as

certificates or money market shares; or

• To support a planned increase in loans

or investment holdings or new loan product

offerings.

CLF will monitor, as necessary, the

frequency and duration of a credit union’s

CLF borrowings to make certain that the

credit union is taking appropriate measures

to diminish reliance on CLF advances and

verify that a more serious liquidity problem

does not exist. Borrowers are expected to

initiate appropriate actions to restore

adequate liquidity within a reasonable period

of time. Facility loan officers, at their

discretion, may require a borrowing credit

union to prepare a liquidity restoration plan

to detail the action and time required to

restore its net funds position to the point

where it is no longer dependent on CLF

advances. A loan officer’s decision to require

a plan is greatly dependent on the unique

circumstances of the borrowing credit union.

Factors that may contribute to this decision

include: (1) The credit union consistently

provides incomplete, vague, or untimely

information needed to approve or monitor an

advance; (2) the loan officer develops

concerns about the borrowing credit union’s

financial condition and ability to repay; (3)

the credit union appears to have used an

advance for inappropriate purposes; and (4)

the credit union appears to be unreasonably

dependent on advances without making

progress towards implementing programs to

manage its liquidity risk. These factors are

only a few of many that a loan officer may

consider before requiring a liquidity

restoration plan.

[FR Doc. 01–10308 Filed 4–25–01; 8:45 am]

BILLING CODE 7535–01–U

NUCLEAR REGULATORY

COMMISSION

[Docket Nos. 50–255, 72–005, License No.

DPR–20]

Consumers Energy Company

(Palisades Plant); Order Approving

Transfer of Operating Authority and

Conforming Amendment

I

Consumers Energy Company (CEC or

the licensee) is the holder of Facility

Operating License No. DPR–20, which

authorizes operation of the Palisades

Plant (Palisades or the facility). The

facility is located in Van Buren County,

Michigan. The license authorizes CEC to

possess, use, and operate Palisades.

II

By application dated November 21,

2000, the Commission was informed

that CEC entered into an Operating

Services Agreement with Nuclear

Management Company, LLC (NMC).

Under the proposed transaction, NMC

will be designated as the licensee

authorized to use and operate Palisades

in accordance with the terms and

conditions of the license. The

transaction involves no change in plant

ownership. The licensee requested

approval of the proposed transfer of

operating authority under the Palisades

Facility Operating License to NMC. The

application also requested a conforming

amendment to reflect the transfer. The

proposed amendment would add NMC

to the license and reflect that NMC is

exclusively authorized to use and

operate Palisades. As a result of the

transfer of the license with respect to

operating authority thereunder and the

conforming license amendment, NMC

will also become and act as the general

licensee for the Independent Spent Fuel

Storage Installation (ISFSI) at Palisades

pursuant to 10 CFR 72.210.

According to the application for

approval filed by CEC, NMC would

become the licensee authorized to use

and operate Palisades following

approval of the proposed license

transfer. NMC will assume exclusive

responsibility for the operation and

maintenance of Palisades. Ownership of

Palisades will not be affected by the

proposed transfer of operating authority.

CEC will retain its current ownership

interest. NMC will not own any portion

of Palisades. Likewise, CEC’s

entitlement to capacity and energy from

Palisades will not be affected by the

transfer of operating authority. No

physical changes to the Palisades

facility were proposed in the

application.

Approval of the transfer of operating

authority under the Facility Operating

License and conforming license

amendment was requested by CEC

pursuant to 10 CFR 50.80 and 10 CFR

50.90. Notice of the application for

approval and an opportunity for a

hearing was published in the Federal

Register on December 19, 2000 (65 FR

79431). No hearing requests or written

comments were received.

Pursuant to 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 Commission shall

give its consent in writing. After

reviewing the information in the

application by CEC and other

information before the Commission, and

relying upon the representations and

agreements contained in the

application, the NRC staff has

determined that NMC is qualified to

hold the operating authority under the

license, and that the transfer of the

operating authority under the license to

NMC 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 I; 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 the health and safety of the

public; and the issuance of the proposed

amendment will be in accordance with

10 CFR part 51 of the Commission’s

regulations and all applicable

requirements have been satisfied. The

foregoing findings are supported by a

safety evaluation dated April 19, 2001.

III

Accordingly, pursuant to sections

161b, 161i, and 184 of the Atomic

Energy Act of 1954, as amended, 42

U.S.C. 2201(b), 2201(i), and 2234, and

10 CFR 50.80, it is hereby ordered that

the transfer of operating authority under

the license, as described herein, to NMC

21022 Federal Register / Vol. 66, No. 81 / Thursday, April 26, 2001 / Notices

is approved, subject to the following

conditions:

(1) After receipt of all required

regulatory approvals of the transfer of

operating authority to NMC, CEC and

NMC shall inform the Director of the

Office of Nuclear Reactor Regulation in

writing of such receipt within 5

business days, and of the date of the

closing of the transfer no later than 7

business days prior to the date of

closing. If the transfer is not completed

by April 19, 2002, this Order shall

become null and void, provided,

however, upon written application and

for good cause shown, such date may in

writing be extended.

(2) NMC shall, prior to completion of

the transfer of operating authority for

Palisades, provide the Director of the

Office of Nuclear Reactor Regulation

satisfactory documentary evidence that

NMC has obtained the appropriate

amount of insurance required of

licensees under 10 CFR part 140 of the

Commission’s regulations.

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 transfer

of operating authority is approved. The

amendment shall be issued and made

effective at the time the proposed

transfer is completed.

This Order is effective upon issuance.

For further details with respect to this

action, see the application dated

November 21, 2000, which is available

for public inspection at the

Commission’s Public Document Room,

located at One White Flint North, 11555

Rockville Pike (first floor), Rockville,

Maryland, and accessible electronically

through the ADAMS Public Electronic

Reading Room link at the NRC Web site

(http://www.nrc.gov).

Dated at Rockville, Maryland, this 19th day

of April 2001.

For the Nuclear Regulatory Commission.

Samuel J. Collins,

Director, Office of Nuclear Reactor

Regulation.

[FR Doc. 01–10413 Filed 4–25–01; 8:45 am]

BILLING CODE 7590–01–U

NUCLEAR REGULATORY

COMMISSION

Public Meeting on NRC’s Inspection

Program in Offshore Federal Waters in

the Gulf of Mexico

AGENCY: Nuclear Regulatory

Commission.

ACTION: Notice of public meeting in

Lafayette, Louisiana.

SUMMARY: The U.S. Nuclear Regulatory

Commission will hold a public meeting

on the NRC’s inspection and

enforcement program for licensed

activities conducted in offshore Federal

waters in the Gulf of Mexico. The

meeting is intended to discuss current

issues facing industrial radiography and

well logging licensees as they

implement the NRC requirements in

offshore Federal waters.

Time/Date: The public meeting will

be held on Thursday, May 10, 2001,

from 9:00 a.m. to 12:30 p.m. (Central

Daylight Savings Time).

Place: Hilton Hotel Lafayette,

Ballroom, 4th Floor, 1521 West Pinhook

Road, Lafayette, Louisiana 70503.

FOR FURTHER INFORMATION CONTACT:

Richard A. Leonardi, Jr., Health

Physicist, NRC Region IV Office,

Division of Nuclear Materials Safety,

Nuclear Materials Inspection Branch,

Arlington, Texas 76011, or by

telephone: (817) 860–8187, or email:

ral@nrc.gov.

SUPPLEMENTARY INFORMATION: The U.S.

Nuclear Regulatory Commission will

hold a public meeting on the NRC’s

inspection and enforcement program for

licensed activities conducted in offshore

Federal waters in the Gulf of Mexico.

The meeting is intended to discuss

current issues facing industrial

radiography and well logging licensees

as they implement the requirements of

10 CFR parts 34, 39, and 150 in offshore

Federal waters. The meeting is designed

to inform, listen to, and learn from the

meeting’s attendees, including an

exchange of information regarding the

operational implications and unique

conditions associated with the use of

radiographic exposure devices on

platforms and laybarges. The meeting

will be facilitated by Francis X.

Cameron, Special Counsel for Public

Liaison, of the NRC Office of General

Counsel.

To accomplish this goal, the NRC staff

will make brief presentations on NRC’s

inspection and enforcement program,

the Letter of Agreement between NRC

and the Minerals Management Service

(MMS) of the Department of the Interior,

and the lessons learned during the

initial implementation of NRC’s

inspection activities in the Gulf of

Mexico. Presentations will be followed

by a facilitated question and answer

session to provide a forum for

discussion of current issues and

challenges facing NRC and Agreement

State licensees performing licensed

activities on oil/gas platforms and

marine laybarges operating in the Gulf

of Mexico. Attendees are expected to

include individuals representing the

industrial radiography and well logging

industry, Federal and State regulatory

organizations, platform and laybarge

owners and operators, and interested

members of the public. The meeting

notice, meeting agenda, Letter of

Agreement with MMS, and Federal

Register notice of termination of the

274i Agreement with Louisiana can be

obtained from the NRC website (http://

www.nrc.gov/NRC/PUBLIC/

meet.html#RIV), or by contacting

Richard A. Leonardi, Jr. at (817) 860–

8187 or email at ral@nrc.gov. Copies of

these documents will also be available

at the meeting.

Dated at Arlington, Texas this 18th day of

April, 2001.

For the Nuclear Regulatory Commission.

Mark R. Shaffer,

Chief, Nuclear Materials Safety Branch,

Division of Nuclear Materials Safety.

[FR Doc. 01–10415 Filed 4–25–01; 8:45 am]

BILLING CODE 7590–01–U

NUCLEAR REGULATORY

COMMISSION

Meeting Concerning the Revision of

the Oversight Program for Nuclear

Fuel Cycle Facilities

AGENCY: Nuclear Regulatory

Commission (NRC).

ACTION: Notice of public meeting.

SUMMARY: NRC will hold a public

meeting at the NRC Headquarters

location at 11555 Rockville Pike, in

Rockville, MD to provide the public,

those regulated by the NRC, and other

stakeholders with information about,

and an opportunity to provide views on,

how NRC plans to revise its oversight

program for nuclear fuel cycle facilities.

This meeting follows a February 8, 2001

public meeting regarding the work plan

for the oversight revision project.

Similar to the revision of the oversight

program for commercial nuclear power

reactor plants, NRC initiated an effort to

improve its oversight program for

nuclear fuel cycle facilities. This effort

is described in SECY–99–188,

‘‘Evaluation and Proposed Revision of

the Nuclear Fuel Cycle Facility Safety

Inspection Program,’’ and in SECY–00–

0222, ‘‘Status of Nuclear Fuel Cycle

Facility Oversight Program Revision.’’

SECY–99–188 and SECY–00–0222 are

available in the Public Document Room

and on the NRC Web Page at http://

www.nrc.gov/NRC/COMMISSION/

SECYS/index.html. Additional project

information can be found on the NRC