[Federal Register Volume 60, Number 209 (Monday, October 30, 1995)]
[Notices]
[Pages 55255-55256]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-26796]
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DEPARTMENT OF ENERGY
[Docket No. ES85-5-002]
El Paso Electric Company; Notice of Amended Application
October 24, 1995.
Take notice that on October 20, 1995, El Paso Electric Company (El
Paso) made a filing requesting that the Commission amend the
authorization granted in Docket No. ES85-5-000.
By letter order dated November 27, 1984 (29 FERC para. 62,270), El
Paso was authorized:
(A) To assume liability for the payment of not more than $150
million of pollution control refunding bonds (PCRB) to be issued by the
Maricopa County, Arizona Pollution Control Corporation (the
``Authority'') for the purpose of financing the costs to El Paso of the
acquisition and construction of pollution control facilities at the
Palo Verde Nuclear Generating Station in Maricopa, Arizona, including
the refunding of outstanding short-term pollution control bonds
theretofore issued on behalf of El Paso by the Authority;
(B) To issue second mortgage bonds in principal amount equal to the
principal amount of pollution control bonds to be issued by the
Authority, such second mortgage bonds to be issued as collateral
security for El Paso's obligation of payment of such pollution control
bonds; and
(C) To take all such action and execute and deliver all such
instruments, documents, agreements and indentures as shall be necessary
or appropriate in order to consummate the financing.
In original application contemplated that, as a condition to the
issuance and sale of the PCRBs, a national banking association would be
required to issue and deliver to the Trustee of the PCRBs, an
irrevocable letter of credit as a financial support facility for El
Paso's payment obligation under the PCRBs. Pursuant to the Commission's
Order, Credit Suisse issued a letter of credit in support of the
issuance of $37,100,000 of the PCRBs. The letter of credit is due to
expire on December 21, 1995.
In its October 20, 1995 amendment, El Paso requests authorization
to enter into extensions of the existing letter of credit
[[Page 55256]]
issued by Credit Suisse, or to enter into replacement letters of credit
with the same or different financial institutions, through the
remaining term of the Maricopa County Pollution Control Revenue
Refunding Bonds, 1985 Series E ($37,100,000 principal amount), and to
undertake any necessary and appropriate action in connection with any
such extensions or replacements for the letter of credit. El Paso also
requests that the amendment be exempted from the Commission's
competitive bidding and negotiated placement requirements.
Any person desiring to be heard or to protest said filing should
file a motion to intervene or protest with the Federal Energy
Regulatory Commission, 825 North Capitol Street, NE., Washington, DC
20426 in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211 and 385.214). All such motions
or protests should be filed on or before October 31, 1995. Protests
will be considered by the Commission in determining the appropriate
action to be taken, but will not serve to make the protestants parties
to the proceeding. Any person wishing to become a party must file a
motion to intervene. Copies of this filing are on file with the
Commission and are available for public inspection.
Lois D. Cashell,
Secretary.
[FR Doc. 95-26796 Filed 10-27-95; 8:45 am]
BILLING CODE 6717-01-M
