[Federal Register Volume 64, Number 105 (Wednesday, June 2, 1999)]
[Notices]
[Page 29626]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-13932]


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 Notices
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  Federal Register / Vol. 64, No. 105 / Wednesday, June 2, 1999 / 
Notices  

[[Page 29626]]


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DEPARTMENT OF AGRICULTURE

Commodity Credit Corporation


Cotton Storage Agreement Fees

AGENCY: Commodity Credit Corporation, USDA.

ACTION: Notice of fees.

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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 entering into an agreement to store CCC cotton or cotton 
pledged as collateral for CCC loans; increasing the amount of storage 
covered by an existing storage agreement for storage of such cotton; or 
renewing an existing agreement for the storage of such cotton.

EFFECTIVE DATE: July 1, 1999.

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, 
S.W., STOP 0553, Washington, D.C. 20250-0553, telephone (202) 720-7398, 
or FAX (202) 690-3123.

Determination

    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 cotton warehouse operators to provide for the 
storage of cotton owned by CCC or pledged as security to CCC for 
marketing assistance loans.
    Specifically, 7 CFR 1427.1088 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 start of the 
1999-2000 contract year, the fees applicable to the 1999-2000 contract 
year are increased by 7.5 percent.
    The fee will be computed at the rate of $80 for each 1,000 bales of 
storage capacity or fraction thereof, but the fee will be not less than 
$160 nor more than $1,600.

    Signed at Washington, DC, on May 25, 1999.
Keith Kelly,
Executive Vice President, Commodity Credit Corporation.
[FR Doc. 99-13932 Filed 6-1-99; 8:45 am]
BILLING CODE 3410-05-P