[Federal Register Volume 61, Number 57 (Friday, March 22, 1996)]
[Notices]
[Pages 11910-11911]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-6900]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-26495]
Filings Under the Public Utility Holding Company Act of 1935, as
Amended (``Act'')
March 15, 1996.
Notice is hereby given that the following filing(s) has/have been
made with the Commission pursuant to provisions of the Act and rules
promulgated thereunder. All interested persons are referred to the
application(s) and/or declaration(s) for complete statements of the
proposed transaction(s) summarized below. The application(s) and/or
declaration(s) and any amendments thereto is/are available for public
inspection through the Commission's Office of Public Reference.
Interested persons wishing to comment or request a hearing on the
application(s) and/or declaration(s) should submit their views in
writing by April 8, 1996, to the Secretary, Securities and Exchange
Commission, Washington, DC 20549, and serve a copy on the relevant
applicant(s) and/or declarant(s) at the address(es) specified below.
Proof of service (by affidavit or, in case of an attorney at law, by
certificate) should be filed with the request. Any request for hearing
shall identify specifically the issues of fact or law that are
disputed. A person who so requests will be notified of any hearing, if
ordered, and will receive a copy of any notice or order issued in the
matter. After said date, the application(s) and/or declaration(s), as
filed or as amended, may be granted and/or permitted to become
effective.
American Electric Power Co., (70-5943, 70-6126, 70-8429) AEP Resources,
Inc.
American Electric Power Company, Inc. (``AEP''), a registered
holding company, and AEP Resources, Inc. (``Resources''), a non-utility
subsidiary company of AEP, both of 1 Riverside Plaza, Columbus, Ohio
43215, have filed a post-effective amendment to three application-
declarations previously filed under sections 6(a), 7, 9(a), 10, 12(b),
32 and 33 of the Act and rules 45 and 53 thereunder.
By order dated December 22, 1994 (HCAR No. 26200) (``Order''), the
Commission authorized AEP and Resources to issue and sell up to $300
million (``Investment Limit'') in debt and/or equity securities through
June 30, 1997 and to invest the proceeds in ``exempt wholesale
generators'' (``EWGs''), as defined in section 32 of the Act, and in
``foreign utility companies'' (``FUCOs''), as defined in section 33 of
the Act. The Order also authorized AEP and Resources to acquire the
securities of one or more companies (``Project Parents'') that directly
or indirectly, but exclusively, hold the securities of one or more
FUCOs or EWGs (``Power Projects'').
The Order also authorized AEP to guarantee the debt securities and
other commitments of Resources, AEP and Resources to guarantee the
securities of one or more Project Parents or Power Projects, and
Project Parents to guarantee the securities of their Power Projects,
through June 30, 1997, in an aggregate amount which, with the
securities issued, will never exceed the Investment Limit. Finally, the
Order reserved jurisdiction over the terms of the issuance and sale by
AEP of up to 10 million additional shares of its common stock
(``Stock''), par value $6.50 per share, which are authorized but are
unissued or are treasury shares. The gross proceeds from the sale of
the Stock would not exceed the Investment Limit.
AEP proposes to increase the Investment Limit to an amount that,
when added to its other direct or indirect investments in EWGs or
[[Page 11911]]
FUCOs, is equal to 50% of the consolidated retained earnings of AEP
determined in accordance with rule 53 (``New Investment Limit''). AEP
also proposes to extend its authority to issue and sell debt and equity
securities, to extend the authority of Resources and the Project
Parents to acquire the securities of new Project Parents, and to extend
the authority of AEP, Resources and the Project Parents to guarantee
securities, to December 31, 2000. Finally, AEP proposes that the
Commission release its reservation of jurisdiction over the issuance
and sale by AEP of the Stock.
By orders dated December 1, 1993 and December 6, 1993 (HCAR No.
25936 and HCAR No. 25939) (``1993 Orders''), the Commission authorized
AEP to issue and sell authorized but unissued common stock under its
Dividend Reinvestment and Stock Purchase Plan or the American Electric
Power Employees Savings Plan (``Plans''). The Orders stated that AEP
would not use the proceeds of sales of its common stock under the Plans
to acquire interests in EWGs or FUCOs.
AEP now proposes that it be authorized, subject to the New
Investment Limit, to issue and sell common stock under the Plans
through December 31, 2000 and to use the proceeds thereof to invest in
EWGs and FUCOs.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-6900 Filed 3-21-96; 8:45 am]
BILLING CODE 8010-01-M
