[Federal Register Volume 66, Number 132 (Tuesday, July 10, 2001)]
[Notices]
[Page 36020]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-17132]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[File No. 22-28498]


Application and Opportunity for Hearing; Allied Waste North 
America, Inc.

July 2, 2001.
    The Securities and Exchange Commission gives notice hereby that 
Allied Waste North America, Inc. has filed an application pursuant to 
section 304(d) of the Trust Indenture Act of 1939 requesting that the 
Commission exempt from the requirements of section 314(d) of the 1939 
Act the 8\7/8\% Senior Notes due 2008 under an indenture dated December 
23, 1998, and supplemented by an indenture dated January 30, 2001, 
between Allied Waste North America, Inc. and U.S. Bank Trust National 
Association. The 8\7/8\% Senior Notes due 2008 under the indenture will 
be issued as part of an exchange offer registered on Allied Waste North 
America's registration statement on Form S-4, File No. 333-61744. The 
exchange offer will be made to institutional purchasers of similar 
securities in unregistered transactions relying on Rule 144A of the 
Securities Act of 1933.
    Section 304(d) of the 1939 Act, in part, authorizes the Commission 
to exempt conditionally or unconditionally any indenture from one or 
more provisions of the 1939 Act. The Commission may provide an 
exemption under section 304(d) if it finds that the exemption is 
necessary or appropriate in the public interest and consistent with the 
protection of investors and the purposes fairly intended by the 1939 
Act.
    Section 314(d) requires the obligor to furnish to the indenture 
trustee certificates or opinions of fair value upon any release of 
collateral from the lien of the indenture. The application requests 
that the indenture be exempted from the provisions of section 314(d) 
because section 314(d) is not intended to apply to indentures that do 
not contain the provisions creating the security interest.
    In its application, Allied Waste North America, Inc. alleges:
    (1) The notes to be issued under the indenture are secured by 
agreements that are external to the indenture;
    (2) Decisions regarding whether collateral is maintained or 
released are made by a party other than the indenture trustee;
    (3) Neither the indenture trustee nor the holders of the indenture 
securities have any control over these decisions; and
    (4) The collateral securing the indenture securities also secures 
other debt.
    Allied Waste North America, Inc., has waived notice of a hearing, 
and any and all rights to specify procedures under the Rules of 
Practice of the Commission in connection with this matter. Any 
interested persons should look to the application for a more detailed 
statement of the matters of fact and law. The application is on file in 
the Commission's Public Reference Section, File Number 22-28498, 450 
Fifth Street, NW., Washington, DC 20549.
    The Commission also gives notice that any interested persons may 
request in writing that a hearing be held on this matter. Interested 
persons must submit those request to the Commission no later than 
August 7, 2001. Interested persons must include the following in their 
request for a hearing on this matter:
     The nature of that person's interest;
     The reasons for the request; and
     The issues of law or fact raised by the application that 
the interested person desires to refute or request a hearing on.
    The interested person should address this request for a hearing to: 
Secretary, U.S. Securities and Exchange Commission, 450 Fifth Street, 
NW., Washington, DC 20549-0609. At any time after August 7, 2001, the 
Commission may issue an order granting the application, unless the 
Commission orders a hearing.

    For the Commission, by the Division of Corporation Finance, 
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 01-17132 Filed 7-9-01; 8:45 am]
BILLING CODE 8010-01-M