ML20151U902

Informs That NRC Reviewed Info Provided in Ltr Dtd 980813. Univ Meets Criteria in 10CFR30,App E for self-guaranteeing Decommissioning Costs of Cornell Triga & Sero-Power Reactors

ML20151U902
Person / Time
Site:	05000157, 05000097
Issue date:	09/08/1998
From:	Michaels T NRC (Affiliation Not Assigned)
To:	Rebecca Richardson CORNELL UNIV., ITHACA, NY
References
NUDOCS 9809110225
Download: ML20151U902 (3)

Text

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! ., Dr. R:brrt C. Richsrdson F September 8, 1998 Vice Provost fcr RIstarch Cornill UnivIrsity 314 Day Hall l Ithaca, New York - 14853-2801

SUBJECT:

SELF-GUARANTEE OF DECOMMISSIONING COSTS FOR THE TRIGA AND l ZERO-POWER REACTORS

Dear Dr. Richardson:

We have reviewed the information provided in your letter dated August 13,1998, and find that Cornell meets the criteria in 10 CFR Part 30 Appendix E for self-guaranteeing the decommissioning costs of the Cornell TRIGA and Zero-Power Reactors. Therefore, the existing financial assurance method, i.e., prepayment, can be terminated.

The basis for our finding is that Cornell meets both criteria in Appendix E, for colleges and universities, it meets the first criterion in that Cornell has the required bond ratings from -

l Standard and Poors (AA) and Moody's (Aa), for which the bonds appear to be uninsured, l uncollateralized, and unencumbered. It meets the second criterion because the unrestricted endowment in 1997 was $599 million, which is approximately 140 times the estimated decommissioning costs of $4.27 million. The required unrestricted endowment in Appendix E is 30 times the decommissioning costs or $50 million, whichever is greater.

As committed in your letter, should there be any reason that Cornell no longer meets the self-guarantee requirements, a notice will be sent to the Nuclear Regulatory Commission establishing an alternative financial assurance.

l If you have any questions, please call me at 301-415-1102.

f Sincerely ORIGINAL SIGNED BY: SY WEISS FOR/

Theodore S. Michaels, Senior Project Manager

Non-Power Reactors and Decommissioning

. Project Directorate 9009110225 980908 Division of Reactor Program Management PDR ADOCK 050 7 Office of Nuclear Reactor Regulation j' Docket Nos.: 50-97 and l- 50-157 -

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%,.....[ September 8, 1998 Dr. Robert C. Richardson Vice Provost for Research Cornell University 314 Day Hall Ithaca, New York 14853-2801

SUBJECT:

SELF-GUARANTEE OF DECOMMISSIONING COSTS FOR THE TRIGA AND ZERO-POWER REACTORS

Dear Dr. Richardson:

We have reviewed the information provided in your letter dated August 13,1998, and find that Cornell meets the criteria in 10 CFR Part 30 Appendix E for self-guaranteeing the decommissioning costs of the Cornell TRIGA and Zero-Power Reactors. Therefore, the existing financial assurance method, i.e., prepayment, can be terminated.

The basis for our finding is that Cornell meets both criteria in Appendix E, for colleges and universities. It meets the first criterion in that Cornell has the required bond ratings from Standard and Poors (AA) and Moody's (Aa), for which the bonds appear to be uninsured, uncollateralized, and unencumbered. It meets the second criterion because the unrestricted endowment in 1997 was $599 million, which is approximately 140 times the estimated decommissioning costs of $4.27 million. The required unrestricted endowment in Appendix E is 30 times the decommissioning costs or $50 million, whichever is greater.

As committed in your letter, should there be any reason that Cornell no longer meets the self-guarantee requirements, a notice will be sent to the Nuclear Regulatory Commission establishing an alternative financial assurance.

if you have any questions, please call me at 301-415-1102.

Sincerely a

The ore S. Michaels, Senior Project Manager Non-Power Reactors and Decommissioning Project Directorate Division of Reactor Program Management Office of Nuclear Reactor Regulation i

Docket Nos.: 50-97 and 50-157 cc: See next page l

l Cornell University Docket Nos. 50-97/157 1

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cc:

Director, Bureau of Radiation, DHSR NYS Department of Environmental Conservation 1

50 Wolf Road Albany, New York 12223-7255 l

Dr. Howard Aderhold School of Applied and Engineering Physics Ward Laboratory Cornell University lthaca, New York 14853 Mr. John P. Spath NYS Energy Research and )

Development Authority l Corporate Plaza West 286 Washington Avenue Extensira Albany, New York 12203-639S l

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