[Federal Register Volume 59, Number 125 (Thursday, June 30, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-15934]
[[Page Unknown]]
[Federal Register: June 30, 1994]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-26070]
Filings Under the Public Utility Holding Company Act of 1935
(``Act'')
June 24, 1994.
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 July 18, 1994, 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.
Central and South West Corporation, et al. (70-8433)
Central and South West Corporation (``CSW''), a registered holding
company, and its nonutility subsidiary company CSW Energy, Inc.
(``Energy''), both located at 1616 Woodall Rodgers Freeway, P.O. Box
660164, Dallas, Texas 75202, and its proposed nonutility subsidiary,
Energy Sub (``Energy Sub'') (together, ``Applicants''), have filed an
application-declaration under Sections 6, 7, 9(a), 10, 12(b) and 32 of
the Act and Rules 43, 45 and 54 thereunder.
CSW and Energy propose to form and invest in Energy Sub, a wholly
owned special purpose subsidiary of Energy, in connection with the
purchase from Texasgulf, Inc. (``Texasgulf''), a nonassociate
corporation, of an approximately 85 megawatt natural gas fired
generation facility, including approximately 40 acres of land
(``Project'') located in or near Wharton County, Texas. Energy Sub will
develop the Project such that it will qualify as an exempt wholesale
generator, as defined in Section 32(e) of the Act (``EWG'').
Energy Sub will be incorporated under the laws of the State of
Delaware with an authorized capital of up to 1,000 shares of common
stock, each without par value. Energy will subscribe to all of Energy
Sub's common stock at a subscription price of $1.00 per share.
It is further proposed that Energy Sub will purchase the Project
from Texasgulf, the sole owner of the Project, for a purchase price in
an amount not to exceed $11 million (``Purchase Price'') at financial
closing of the purchase of the Project (``Purchase Closing''). The
Purchase Closing is anticipated to occur promptly after the
Commission's approval of the proposed transactions, expected to be in
July 1994.
In addition to the Purchase Price, Energy Sub anticipates incurring
costs to develop the Project. The aggregate of such development costs
will not exceed $5 million (``Development Costs''). CSW and Energy
propose to fund the Purchase Price and the Development Costs by capital
contributions, loans or open account advances from CSW to Energy and
from Energy to Energy Sub. All such loans or open account advances from
CSW to Energy and from Energy to Energy Sub would bear interest at a
rate per annum not in excess of CSW's weighted cost of capital and
would have a final maturity not to exceed five years.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-15934 Filed 6-29-94; 8:45 am]
BILLING CODE 8010-01-M
