[Federal Register Volume 65, Number 224 (Monday, November 20, 2000)]
[Notices]
[Pages 69798-69799]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-29598]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-27277]


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

November 13, 2000.
    Notice is hereby given that the following filings(s) has/have been 
made with the Commission pursuant to provisions of the Act and rules 
promulgated under the Act. 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 amendment(s) is/are available for public 
inspection through the Commission's Branch 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 December 8, 2000, to the Secretary, Securities and Exchange 
Commission, Washington, D.C. 20549-0609, and serve a copy on the 
relevant applicant(s) and/or declarants(s) at the address(es) specified 
below. Proof of service (by affidavit or, in the case of an attorney at 
law, by certificate) should be filed with the request. Any request for 
hearing should identify specifically the issues of facts 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 December 8, 2000, the application(s) and/or 
declaration(s), as filed or as amended, may be granted and/or permitted 
to become effective.

[[Page 69799]]

American Electric Power Company, Inc. (70-8429)

    American Electric Power Company, Inc. (``AEP''), a registered 
holding company, and its wholly owned subsidiary, AEP Resources, Inc. 
(``Resources'', and together with AEP, ``Applicants''), both located at 
1 Riverside Plaza, Columbus, Ohio 43215, have filed a post-effective 
amendment under sections 6(a), 7, 9(a), 10, 12(b), 32 and 33 of the Act 
and rules 45 and 53 under the Act to their application-declaration 
previously filed under the Act.
    By orders dated December 22, 1994, May 10, 1996 and April 27, 1998 
(``Prior Orders'') (HCAR Nos. 26200, 26516 and 26864), the Commission 
authorized AEP and Resources to, among other things, issue debt and 
equity securities (``Securities'') \1\ through December 31, 2000, for 
investment in ``exempt wholesale generators'' (``EWGs'') and ``foreign 
utility companies'' (``FUCOs''), as defined in sections 32 and 33 of 
the Act. AEP and Resources were also authorized to acquire the 
securities of one or more companies (``Project Parents'') that directly 
or indirectly hold the securities of one or more EWGs or FUCOs (``Power 
Projects''). The Prior Orders also provided authority for AEP to 
guarantee the obligations of Resources, for AEP and Resources to 
guarantee the obligations of one or more Project Parents or Power 
Projects, and for Project Parents to guarantee the obligations of their 
Power Projects \2\ all in an aggregate amount which, together with the 
proceeds of the Securities, would not exceed 100% of AEP's consolidated 
retained earnings, as defined in rule 53(a) under the Act (``Investment 
Limitation'').
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    \1\ In particular, AEP was authorized to issue and sell up to 
ten million shares of its common stock and to incur short-term debt 
in the form of notes issued to banks and commercial paper. Resources 
was authorized to incur short-term and long-term debt. The 
Applicants state that, because of the adoption of rule 52, any 
securities issuance by any associate company, other than AEP, 
constitutes an exempt transaction under the rule.
    \2\ The Prior Orders provided that AEP could guarantee 
Resources' issuance of long-term notes having terms of not less than 
nine months nor more than twenty years, bearing interest at a fixed 
rate, a fluctuating rate or a combination of fixed and fluctuating 
rates. AEP was authorized also to guarantee borrowings by Resources 
under lines of credit that would generally bear interest at an 
annual rate not greater than the prime commercial rate in effect 
from time to time. Finally, the prior Orders authorized AEP to 
guarantee the issuance and sale of commercial paper by Resources 
maturing not more than 270 days from the date of issuance.
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    By order dated June 14, 2000 (HCAR No. 27186), the Commission 
approved the merger of AEP and Central and South West Corporation 
``CSW''), a registered holding company. In the order, the Commission 
also increased the Investment Limitation to allow AEP to issue and sell 
Securities and provide guarantees in an amount of up to 100% of AEP and 
CSW's combined consolidated retained earnings after giving effect to 
the merger (``Modified Investment Limitation'').
    The Applicants now request authority for AEP to extend, through 
June 30, 2005 and within the Modified Investment Limitation, AEP's 
authority under the Prior Orders to issue and sell Securities and to 
guarantee the indebtedness and other financial commitments of 
Resources, Project Parents and Power Projects for investments in EWGs 
and FUCOs. The Applicants separately request authority, through June 
30, 2005, for Resources to guarantee obligations, other than 
indebtedness, \3\ of Project Parents and Power Projects, and for 
Project Parents to guarantee obligations of Power Projects, other than 
indebtedness, each in amounts not exceeding $3 billion outstanding at 
any time.
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    \3\ The Applicants state that guarantees by AEP subsidiaries of 
indebtedness is exempt under rules 45 and 52.

    For the Commission, by the Division of Investment Management, 
under delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-29598 Filed 11-17-00; 8:45 am]
BILLING CODE 8010-01-M