[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
Federal Register
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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.
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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
