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.

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

SUMMARY: For the period beginning July 1, 1999 and ending on December

31, 1999 the prompt payment interest rate is 6.50 per centum per annum.

ADDRESSES: Comments or inquiries may be mailed to Eleanor Farrar, 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 available to download from the http://

www.publicdebt.treas.gov.

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

1, 1999 to December 31, 1999 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) 480-5181, Eleanor

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

Accounting, Bureau of the Public Debt, (304) 480-5166, Edward C.

Gronseth, Deputy Chief Counsel, Office of the Chief Counsel, Bureau of

the Public Debt, (304) 480-3692, or Kavita Kalsy, Attorney-Adviser,

Office of the Chief Counsel, Bureau of the Public Debt, (304) 480-3682.

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 Sec. 2, Pub.L. 92-41, 85 Stat. 97. For

example, the Contract Disputes Act of 1978 Sec. 12, Pub.L. 95-563, 92

Stat. 2389 and the Prompt Payment Act of 1982 Sec. 2, Pub.L. 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 given that, the Secretary of the Treasury has

determined that the rate of interest applicable, for the period

beginning July 1, 1999 and ending on December 31, 1999, is 6.50 per

centum per annum. This rate is determined pursuant to the above

mentioned sections for the purpose of said sections.

Dated: June 29, 1999.

Donald V. Hammond,

Fiscal Assistant Secretary.

[FR Doc. 99-16962 Filed 6-29-99; 4:45 pm]

BILLING CODE 4810-39-P