[Federal Register Volume 61, Number 218 (Friday, November 8, 1996)]
[Notices]
[Pages 57932-57933]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-28702]


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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-26598]


Filings Under the Public Utility Holding Company Act of 1935, as 
Amended (``Act'')

November 1, 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 November 25, 1996, to the Secretary, Securities and Exchange 
Commission, Washington, D.C. 20549, and serve a copy of 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 (70-8087)

    Central and South West Corporation (``CSW''), a registered holding 
company, 1616 Woodall Rodgers Freeway, Dallas, Texas 75202, has filed a 
post-effective amendment to its application-declaration under sections 
6(a), 7, 9(a) and 10 of the Act and rule 54 thereunder.
    By order dated October 4, 1993 (HCAR No. 25902) (``Initial 
Order''), the Commission authorized CSW to establish a Dividend 
Reinvestment and Stock Purchase Plan (``Plan'') pursuant to which 
shares of CSW's common stock, $3.50 par value per share (``Common 
Stock''), are either newly issued or purchased in the open market with 
reinvested dividends and optional cash payments made by registered 
shareholders of CSW, employees and eligible retirees of CSW or its 
subsidiaries and non-shareholders of legal age who are residents of the 
States of Arkansas, Louisiana, Oklahoma and Texas.
    By supplemental order, dated January 30, 1996 (HCAR No. 26466) 
(``Supplemental Order''), CSW was authorized to make the following 
amendments to the Plan: (1) To increase the number of originally issued 
shares of Common Stock that may be offered pursuant to the Plan from 
five million to ten million; (2) to permit non-shareholders of legal 
age who are residents of all fifty states of the United States and the 
District of Columbia to participate in the Plan; (3) to increase the 
initial cash investment required for enrollment in the Plan by 
nonemployees and nonretirees from $100 to $250; and (4) to change the 
frequency of investment in shares of Common Stock by the Plan from bi-
monthly to weekly.
    CSW now requests authorization to extend the period of 
authorization by which it may issue, sell and acquire the Common Stock 
pursuant to the Plan, under the terms and conditions set forth in the 
Initial Order and Supplemental Order, through December 31, 2001.

Ohio Valley Electric Corporation (70-8527)

    Ohio Valley Electric Corporation (``Ohio Valley''), P.O. Box 468, 
Piketon, Ohio 45661, an electric utility subsidiary of American 
Electric Power Company, Inc., a registered holding company, has filed a 
post-effective amendment to its application-declaration filed under 
sections 6(a) and 7 of the Act and rule 54 thereunder.
    By prior Commission order dated December 28, 1994 (HCAR No. 26203), 
Ohio Valley was authorized to incur short-term indebtedness through the 
issuance and sale of notes (``Notes'') to banks in an aggregate amount 
not to exceed $25 million outstanding at any one time from time to time 
prior to January 1, 1997, provided that no such notes mature later than 
June 30, 1997.
    Ohio Valley now proposes to extend such authorization through 
December 31, 2001. The Notes will mature not more than 270 days after 
the date of issuance or renewal thereof, provided that no Notes will 
mature later than June 30, 2002. Notes will bear interest at an annual 
rate not greater than the bank's prime commercial rate in effect from 
time to time. Such credit arrangements may require the payment of a fee 
that is not greater than \1/5\ of 1% per annum of the size of the line 
of credit made available by the bank and the maintenance of additional 
balances of not greater than 20% of the line of credit.
    The maximum effective annual interest cost under any of the above 
arrangements, assuming full use of the line of credit, will not exceed 
125% of the prime commercial rate in effect from time to time, or not 
more than 10.625% on the basis of a prime commercial rate of 8.5%.
    The proceeds of the short-term debt incurred by Ohio Valley will be 
added to its general funds and used to pay its general obligations and 
for other corporate purposes.

Central and South West Corporation, et al. (70-8557)

    Central and South West Corporation (``CSW''), a registered holding 
company, its service company subsidiary, Central and South West 
Services, Inc. (``Services''), both located at 1616 Woodall Rodgers 
Freeway, Dallas, Texas 75202, and four of its public utility 
subsidiaries, Central Power and Light Company (``CPL''), 539 North 
Carancahua Street, Corpus Christi, Texas 78401-2802, Public Service 
Company of Oklahoma (``PSO''), 212 East Sixth Street, Tulsa, Oklahoma 
74119-1212, Southwestern Electric Power Company (``SWEPCO''), 428 
Travis Street, Shreveport, Louisiana 71156-0001 and West Texas 
Utilities Company (``WTU''), 301 Cypress Street, Abilene, Texas 7960-
5820 (together, ``Subsidiaries''), have filed an application-
declaration under sections

[[Page 57933]]

6(a), 7, 9(a), 10, 12(b) and 12(f) of the Act and Rules 43, 45 and 54 
thereunder.
    CSW and the Subsidiaries propose to continue, through March 31, 
2002, their short-term borrowing program, which includes the sale of 
commercial paper by CSW to commercial paper dealers and financial 
institutions and the sale of short-term notes to banks and their trust 
departments by CSW and the Subsidiaries (``External Program'') and the 
CSW System Money Pool (`` Money Pool''), as previously authorized by 
orders dated June 15, 1994, March 18, 1994, September 28, 1993, March 
31, 1993 and March 21, 1995 (HCAR Nos. 26066, 26007, 25897, 25777 and 
26254, respectively) (``Prior Orders''). In view of certain 
restrictions on the amount of unsecured short-term debt that CPL, PSO, 
SWEPCO and WTU may have outstanding under the terms of their respective 
charters, it is proposed that all borrowing under the Money Pool will 
be secured by a subordinated lien on certain assets of the borrowing 
company.
    The aggregate principal amounts of short-term borrowing outstanding 
at any one time requested by CSW and its Subsidiaries are as follows: 
CSW--$1.2 billion; CPL--$300 million; PSO--$125 million; SWEPCO--$150 
million; WTU--$65 million and Services--$110 million. The aggregate 
principal amount of outstanding borrowings for CSW and its Subsidiaries 
together will not exceed $1.2 billion.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 96-28702 Filed 11-7-96; 8:45 am]
BILLING CODE 8010-01-M