[Federal Register Volume 63, Number 131 (Thursday, July 9, 1998)]
[Notices]
[Page 37091]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-18270]


      
 ========================================================================
 Notices
                                                 Federal Register
 ________________________________________________________________________
 
 This section of the FEDERAL REGISTER contains documents other than rules 
 or proposed rules that are applicable to the public. Notices of hearings 
 and investigations, committee meetings, agency decisions and rulings, 
 delegations of authority, filing of petitions and applications and agency 
 statements of organization and functions are examples of documents 
 appearing in this section.
 
 ========================================================================
 

  Federal Register / Vol. 63, No. 131 / Thursday, July 9, 1998 / 
Notices  

[[Page 37091]]


-----------------------------------------------------------------------

DEPARTMENT OF AGRICULTURE

Commodity Credit Corporation


Cotton Storage Agreement Fees

AGENCY: Commodity Credit Corporation, USDA.

ACTION: Notice of fees.

-----------------------------------------------------------------------

SUMMARY: The purpose of this notice is to publish a schedule of fees to 
be paid to Commodity Credit Corporation (CCC) by cotton warehouse 
operators requesting to enter into a storage agreement or adjusting the 
capacity of an existing storage agreement.

EFFECTIVE DATE: July 1, 1998.

FOR FURTHER INFORMATION CONTACT:
Howard Froehlich, Chief, Storage Contract Branch, Warehouse and 
Inventory Division, Farm Service Agency, United States Department of 
Agriculture, 1400 Independence Avenue, SW., STOP 0553, Washington, D.C. 
20250-0553, telephone (202) 720-7398, FAX (202) 690-3123.

SUPPLEMENTARY INFORMATION:

Background

    In accordance with the provisions of the Commodity Credit 
Corporation Charter Act (15 U.S.C. 714 et seq.), CCC enters into 
storage agreements with private cotton warehouse operators to provide 
for the storage of commodities owned by CCC or pledged as security to 
CCC for marketing assistance and price support loans.
    Specifically, 7 CFR part 1427.1087 provides that all cotton 
warehouse operators who do not have an existing agreement with CCC for 
storage and handling of CCC-owned commodities or commodities pledged to 
CCC as loan collateral, but who desire such an agreement, must pay an 
application and examination fee for each warehouse for which CCC 
approval is sought prior to CCC conducting the original warehouse 
examination.
    A review of the revenue collected for application and examination 
fees indicates that the fees collected are insufficient to meet costs 
incurred by CCC for warehouse examinations and contract origination 
administrative functions. Accordingly, beginning with the 1998-99 
contract year, the fees are changed by increasing by 10 percent those 
fees that were applicable to the 1997-98 contract year. The fee change 
will be effective July 1, the beginning of the 1998-99 contract year.
    The fee will be computed at the rate of $75 for each 1,000 bales of 
storage capacity or fraction thereof, but the fee will be not less than 
$150 nor more than $1,500.

    Signed at Washington, DC, on July 2, 1998.
Bruce R. Weber,
Acting Executive Vice President, Commodity Credit Corporation.
[FR Doc. 98-18270 Filed 7-8-98; 8:45 am]
BILLING CODE 3410-05-P