[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