[Federal Register Volume 67, Number 159 (Friday, August 16, 2002)]
[Notices]
[Pages 53558-53560]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-20803]


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DEPARTMENT OF AGRICULTURE

Rural Utilities Service


Information Collection Activity; Comment Request

AGENCY: Rural Utilities Service, USDA.

ACTION: Notice and request for comments.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (44 
U.S.C. chapter 35, as amended), the Rural Utilities Service (RUS) 
invites comments on the following information collections for which RUS 
intends to request approval from the Office of Management and Budget 
(OMB).

DATES: Comments on this notice must be received by October 15, 2002.

FOR FURTHER INFORMATION CONTACT: F. Lamont Heppe, Jr., Director, 
Program Development and Regulatory Analysis, Rural Utilities Service, 
1400 Independence Ave., SW., STOP 1522, Room 4036, South Building, 
Washington, DC 20250-1522. Telephone: (202)720-9550. Fax: (202) 720-
4120.

SUPPLEMENTARY INFORMATION: The Office of Management and Budget's (OMB) 
regulation (5 CFR 1320) implementing provisions of the Paperwork 
Reduction Act of 1995 (Pub. L. 104-13) requires that interested members 
of the public and affected agencies have an opportunity to comment on 
information collection and recordkeeping activities [see 5 CFR 
1320.8(d)]. This notice identifies information collections that RUS is 
submitting to OMB for extension.
    Comments are invited on: (a) Whether this collection of information 
is necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility; (b) the 
accuracy of the agency's estimate of the burden of the collection of 
information including the validity of the methodology and assumptions 
used; (c) ways to enhance the quality, utility, and clarity of the 
information to be collected; and (d) ways to minimize the burden of the 
collection of information on respondents, including through the use of 
appropriate automated, electronic, mechanical or other technological 
collection techniques or other forms of information technology. 
Comments may be sent to F. Lamont Heppe, Jr., Director, Program 
Development and Regulatory Analysis, Rural Utilities Service, U.S. 
Department of Agriculture, STOP 1522, 1400 Independence Ave., SW., 
Washington, DC 20250-1522. Fax: (202) 720-4120.
     Title: 7 CFR Part 1789, Use of Consultants Funded by 
Borrowers.
     OMB Control Number: 0572-0115.
     Type of Request: Extension of a currently approved 
collection.
     Abstract: Section 18(c) of the Rural Electrification Act 
of 1936 (RE Act), as amended (7 U.S.C. 901 et seq.) authorizes RUS to 
use consultants voluntarily funded by borrowers for financial, legal, 
engineering, and other technical services. Consultants may be used to 
facilitate timely action on loan applications by borrowers for 
financial assistance and for approvals required by RUS, pursuant to the 
terms of outstanding loans, or otherwise. RUS may not require borrowers 
to fund consultants. The provisions of section 18(c) may be utilized 
only at the borrower's request.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average 2 hours per response.
    Respondents: Not for profit institutions; business or other for-
profit.
    Estimated Number of Respondents: 6.
    Estimated Number of Responses per Respondent: 1.
    Estimated Total Annual Burden on Respondents: 12 hours.
     Title: Prospective Large Power Service.
     OMB Control Number: 0572-0001.
     Type of Request: Extension of a currently approved 
collection.
     Abstract: The RUS makes mortgage loans and loan guarantees 
to electric systems to provide and improve electric service in rural 
areas pursuant to the RE Act of 1936, as amended (7 U.S.C. 901 et 
seq.). RUS electric borrowers often enter into special contracts with 
commercial and industrial consumers for the retail sale of electricity. 
These contracts typically require extensions to the borrower's electric 
system which may be financed with RUS loan funds, debt financing from 
another source, the borrower's own funds, sometimes called general 
funds, and/or funds provided by the consumer.
    RUS review of these contracts is intended to protect the interests 
of the government as a secured lender and to foster the purposes of the 
RE Act. RUS Form 170, Prospective Large Power Service, provides RUS 
with information needed for this review.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average 4 hours per response.
    Respondents: Not-for-profit institutions; business or other for-
profit.
    Estimated Number of Respondents: 5.
    Estimated Number of Responses per Respondent: 1.

[[Page 53559]]

    Estimated Total Annual Burden on Respondents: 20 hours.

     Title: Request for Approval to Sell Capital Assets.
     OMB Control Number: 0572-0020.
     Type of Request: Extension of a currently approved 
collection.
     Abstract: A borrower s assets provide the security for a 
Government loan. The selling of assets reduces the security and 
increases the risk to the Government. RUS Form 369 allows the borrower 
to seek agency permission to sell some of its assets. The form collects 
detailed information regarding the proposed sale of a portion of the 
borrower's systems. RUS electric utility borrowers complete this form 
to request RUS approval in order to sell capital assets when the fair 
market value exceeds 10 percent of the borrower's net utility plant.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average 3 hours per response.
    Respondents: Not-for-profit institutions; business or other for-
profit.
    Estimated Number of Respondents: 5.
    Estimated Number of Responses per Respondent: 1.
    Estimated Total Annual Burden on Respondents: 15 hours.

     Title: Review Rating Summary, RUS Form 300.
     OMB Control Number: 0572-0025.
     Type of Request: Extension of a currently approved 
collection.
     Abstract: The RUS manages loan programs in accordance with 
the RE Act of 1936, as amended (7 U.S.C. 901 et seq.). An important 
part of safeguarding loan security is to see that RUS financed 
facilities are being responsibly used, adequately operated, and 
adequately maintained. Future needs have to be anticipated to ensure 
that facilities will continue to produce revenue and that loans will be 
repaid as required by the RUS mortgage. A periodic operations and 
maintenance (O&M) review, using the RUS Form 300, in accordance with 7 
CFR part 1730, is an effective means for RUS to determine whether the 
borrowers systems are being properly operated and maintained, thereby 
protecting the loan collateral. An O&M review is also used to rate 
facilities and can be used for appraisals of collateral as prescribed 
by OMB Circular A-129, Policies for Federal Credit Programs and Non-Tax 
Receivables.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average 4 hours per response.
    Respondents: Not-for-profit institutions.
    Estimated Number of Respondents: 253.
    Estimated Number of Responses per Respondent: 1.
    Estimated Total Annual Burden on Respondents: 1,012 hours.

     Title: Lien Accommodations and Subordinations, 7 CFR Part 
1717, Subparts R and S.
     OMB Control Number: 0572-0100.
     Type of Request: Extension of a currently approved 
collection.
     Abstract: The RE Act of 1936, as amended (7 U.S.C. 901 et 
seq.), authorizes and empowers the Administrator of RUS to make loans 
in the several States and Territories of the United States for rural 
electrification and the furnishing of electric energy to persons in 
rural areas who are not receiving central station service. The RE Act 
also authorizes and empowers the Administrator of RUS to provide 
financial assistance to borrowers for purposes provided in the RE Act 
by accommodating or subordinating loans made by the National Rural 
Utilities Cooperative Finance Corporation, the Federal Financing Bank, 
and other lending agencies. 7 CFR part 1717, subparts R and S, sets 
forth policy and procedures to facilitate and support borrowers' 
efforts to obtain private sector financing of their capital needs, to 
allow borrowers greater flexibility in the management of their business 
affairs without compromising RUS loan security, and to reduce the cost 
to borrowers, in terms of time, expense and paperwork, of obtaining 
lien accommodations and subordinations.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average 1.64 hours per response.
    Respondents: Not-for-profit institutions; Business or other for-
profit.
    Estimated Number of Respondents: 22.
    Estimated Number of Responses per Respondent: 1.91.
    Estimated Total Annual Burden on Respondents: 69 hours.

     Title: Mergers and Consolidations of Electric Borrowers, 7 
CFR 1717, subpart D.
     OMB Control Number: 0572-0114.
     Type of Request: Extension of a currently approved 
collection.
     Abstract: The RE Act of 1936, as amended (7 U.S.C. 901 et 
seq.), authorizes the RUS to make and guarantee loans for rural 
electrification. Due to deregulation and restructuring activities in 
the electric industry, RUS borrowers find it advantageous to merge or 
consolidate to meet the challenges of industry change. This information 
collection addresses the requirements of RUS policies and procedures 
for mergers and consolidations of electric program borrowers.
    Estimate of Burden: Public reporting burden for this collection is 
estimated to average 1.3 hours per response.
    Respondents: Not-for-profit institution; business or other for-
profit.
    Estimated Number of Respondents: 18.
    Estimated Number of Responses per Respondent: 7.9.
    Estimated Total Annual Burden on Respondents: 184 hours.

     Title: Financial and Statistical Report for 
Telecommunications Borrowers, RUS Form 479.
    OMB Control Number: 0572-0031.
    Type of Request: Extension of a currently approved collection.
    Abstract: Each RUS telecommunications borrower signs a mortgage 
agreement that specifically requires the submission of annual audited 
financial statements. The information is provided on RUS Form 479.
    Estimate of Burden: Public reporting burden for this collection is 
estimated to average 4 hours per response.
    Respondents: Business or other for-profit; not-for-profit 
institutions.
    Estimated Number of Respondents: 800.
    Estimated Number of Responses per Respondent: 1.
    Estimated Total Annual Burden on Respondents: 3,200 hours.

     Title: 7 CFR 1744-E, Borrower Investments 
Telecommunications Loan Program.
    OMB Control Number: 0572-0098.
    Type of Request: Extension of a currently approved collection.
    Abstract: The Rural Economic Development Act of 1990, Title XXIII 
of the Farm Bill, Public Law 101-624, authorized qualified RUS 
borrowers to make investments in rural development projects without the 
prior approval of the RUS Administrator, provided, however, that such 
investments do not cause the borrower to exceed its allowable qualified 
investment level as determined in accordance with the procedures set 
forth in 7 CFR part 1744, subpart E. When a borrower exceeds these 
limits, the security for the Government's loans could be in jeopardy. 
However, in the interest of encouraging rural development, RUS will 
consider approving such investments that exceed a borrower's qualified 
investment level. This information collection covers those items that a 
borrower would need to submit to RUS for consideration of the

[[Page 53560]]

borrower's request to make a rural development investment.
    Estimate of Burden: Public reporting burden for this collection is 
estimated to average 9.5 hours per response.
    Respondents: Business or other for-profits; not-for-profit 
institutions.
    Estimated Number of Respondents: 25.
    Estimated Number of Responses per Respondent: 1.
    Estimated Total Annual Burden on Respondents: 238 hours.

    Title: 7 CFR 1773, Policy on Audits of RUS Borrowers.
    OMB Control Number: 0572-0095.
    Type of Request: Extension of a currently approved collection.
    Abstract: RUS, in representing the Federal Government as Mortgagee 
and in furthering the objectives of the RE Act of 1936, as amended (7 
U.S.C. 901 et seq.), relies on the information provided by the 
borrowers in their financial statements to make lending decisions as to 
borrower's credit worthiness and to assure that loan funds are 
approved, advanced, and disbursed for proper RE Act purposes. These 
financial statements are audited by a certified public accountant to 
provide independent assurance that the data being reported are properly 
measured and fairly presented. Title 7 CFR part 1773 requires borrowers 
to furnish a full and complete report of their financial condition, 
operations and cash flows, in form and substance satisfactory to RUS, 
audited and certified by an independent certified public accountant, 
satisfactory to RUS, and accompanied by a report of such audit, in form 
and substance satisfactory to RUS.
    Estimate of Burden: Public reporting burden for this collection is 
estimated to average 5.27 hours per response.
    Respondents: Not-for-profit institutions; business or other for-
profit.
    Estimated Number of Respondents: 1,800.
    Estimated Number of Responses per Respondent: 2.16.
    Estimated Total Annual Burden on Respondents: 20,374 hours.
    Copies of these information collections can be obtained from 
Michele Brooks, Program Development and Regulatory Analysis, at (202) 
690-1078. Fax: (202) 720-4120.
    All responses to this notice will be summarized and included in the 
requests for OMB approval. All comments will also become a matter of 
public record.

    Dated: August 9, 2002.
Hilda Gay Legg,
Administrator, Rural Utilities Service.
[FR Doc. 02-20803 Filed 8-15-02; 8:45 am]
BILLING CODE 3410-15-P