Renegotiation Board Interest Rate; Prompt Payment Interest Rate; Contract Disputes Act

DEPARTMENT OF THE TREASURY

Fiscal Service

Renegotiation Board Interest Rate; Prompt Payment Interest Rate;

Contract Disputes Act

AGENCY: Bureau of the Public Debt, Fiscal Service, Treasury.

ACTION: Notice.

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SUMMARY: For the period beginning July 1, 1997 and ending on December

31, 1997, the prompt payment interest rate is 6.75% (6\3/4\ per centum)

per annum.

ADDRESSES: Comments or inquiries may be mailed to Cynthia Winters, Team

Leader, Debt Accounting Branch, Office of Public Debt Accounting,

Bureau of the Public Debt, Parkersburg, West Virginia, 26106-1328. A

copy of this Notice will be made available for downloading from the

http://www.publicdebt.treas.gov.

DATES: This notice announces the interest rate applicable for the July

1, 1997 to December 31, 1997 period.

FOR FURTHER INFORMATION CONTACT: Stephanie Brown, Debt Accounting

Branch Manager, Office of Public Debt Accounting, Bureau of the Public

Debt, Parkersburg, West Virginia, 26106-1328, (304) 480-5171, Cynthia

Winters, Team Leader, Debt Accounting Branch, Office of Public Debt

Accounting, Bureau of the Public Debt, (304) 480-5174, or Elizabeth S.

Gracia, Attorney-Adviser, Office of the Chief Counsel, Bureau of the

Public Debt, (304) 480-5198.

SUPPLEMENTARY INFORMATION: Although the Renegotiation Board is no

longer in existence, other Federal Agencies are required to use

interest rates computed under the criteria established by the

Renegotiation Act of 1971 Section 2, Public Law 92-41, 85 Stat. 97. For

example, the Contract Disputes Act of 1978 Sec. 12, Public Law 95-563,

92 Stat. 2389 and the Prompt Payment Act of 1982 Section 2, Public Law

97-177, 96 Stat. 85 provide for the calculation of interest due on

claims at a rate established by the Secretary of the Treasury pursuant

to 31 U.S.C. 3902(a).

Therefore, notice is hereby given that, pursuant to the above

mentioned sections, the Secretary of the Treasury has determined that

the rate of interest applicable for the purpose of said sections, for

the period beginning July 1, 1997 and ending on December 31, 1997, is

6\3/4\ per centum per annum.

Dated: June 26, 1997.

Donald V. Hammond,

Deputy Fiscal Assistant Secretary.

[FR Doc. 97-17307 Filed 6-30-97; 8:45 am]

BILLING CODE 4810-39-P