Federal Register / Vol. 65, No. 198 / Thursday, October 12, 2000 / Notices 60697

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 35–27240]

Filings Under the Public Utility Holding

Company Act of 1935, as Amended

(‘‘Act’’)

October 4, 2000.

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 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

applicant(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

October 30, 2000, to the Secretary,

Securities and Exchange Commission,

Washington, D.C. 20549–0609, 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 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 October 30, 2000, the

application(s) and/or declaration(s), as

filed or as amended, may be granted

and/or permitted to become effective.

System Energy Resources, Inc., 70–9753

Entergy Corporation (‘‘Entergy’’), 639

Loyola Avenue, New Orleans, Louisiana

70113, a registered holding company,

Entergy’s electric generating subsidiary

company, System Energy Resources,

Inc. (‘‘System Energy’’), 1340 Echelon

Parkway, Jackson, Mississippi 39213,

and Entergy’s operating subsidiary

companies (‘‘Operating Subsidiaries’’),

Entergy Arkansas, Inc., 425 West

Capitol, Little Rock, Arkansas 72201,

Entergy Louisiana, Inc., 4809 Jefferson

Highway, Jefferson, Louisiana 70121,

Entergy Mississippi, Inc., 308 East Pearl

Street, Jackson, Mississippi 39201,

Entergy New Orleans, Inc., 1600 Perido

Building, New Orleans, LA 70112, have

filed an application-declaration under

sections 6(a), 7, 9(a), 10, 12(b) and 12(d)

of the Public Utility Holding Company

Act of 1935 (‘‘Act’’), as amended, and

rules 44, 45 and 54 under the Act.

System Energy proposes, from time to

time through December 31, 2005 to

issue and sell one or more series of its

First Mortgage Bonds (‘‘Bonds’’), and/or

one or more series of its Debentures

(‘‘Debentures’’) in a combined aggregate

principal amount of Bonds and

Debentures not to exceed $350 million.

Each series of Bonds and Debentures

will have such interest rate, maturity

date, redemption, and sinking fund

provisions, as shall be determined at the

time of sale. No series of Bonds or

Debentures will be sold if the fixed

interest rate or adjustable interest rate

would exceed 15% per annum and

mature not later than fifty years from the

date of issuance.

In order to provide security for its

obligations with respect to each series of

the Bonds, System Energy may

determine to enter into one or more

assignments for the benefit of the

holders of such Bonds, of its rights

under the Availability Agreement, dated

as of June 21, 1974, as amended. The

Operating Companies, each of which is

a party to the Availability Agreement,

will be required to consent to and join

in any such Assignment. In addition,

System Energy may determine to enter

into an assignment for the benefit of the

holders of the Bonds of its rights under

the Capital Funds Agreement, dated as

of June 21, 1974. In such event, Entergy,

which is a party to the Capital Funds

Agreement, will be required to consent

to and join in the assignment. Lastly,

System Energy may determine to

provide an insurance policy for the

payment of the principal of and/or

interest and/or premium on one or more

series of Bonds or Debentures.

System Energy proposes to use the net

proceeds from the issuance and sale of

the Bonds and Debentures for general

corporate purposes, including the

repayment of outstanding securities

when due and/or the possible

redemption or the acquisition of

outstanding First Mortgage Bonds and/

or Debentures, the payment of

construction costs and nuclear fuel

costs, the repayment of borrowings and

for other working capital needs.

System Energy also proposes to enter

into arrangements for the issuance of

tax-exempt bonds under which System

Energy proposes from time to time

through December 31,2005, to enter into

one or more installment purchases,

refunding or other facilities agreements

or one or more supplements thereto

(‘‘Facilities Agreement’’) with one or

more issuing governmental authorities

(‘‘Issuer’’) which will contemplate the

issuance and sale by the Issuer of one

or more series of tax-exempt bonds in an

aggregate principal amount not to

exceed $500 million (‘‘Tax-Exempt

Bonds’’) under one or more trust

indentures between the Issuer and one

or more trustees (‘‘Trustee’’). Each series

of Tax-Exempt Bonds will have such

interest rate, maturity date, redemption,

and sinking fund provisions, be secured

by such means, as shall be determined

at the time of sale. In no event will the

Tax-Exempt Bonds mature earlier than

five years nor later than fifty years from

the date of issuance and no series of

Tax-Exempt Bonds will be sold if the

fixed interest rate or initial adjustable

interest rate thereon will exceed 13%

per annum.

In order to obtain a more favorable

rating on any series of Tax-Exempt

Bonds, and improve the marketability

thereof, System Energy may arrange for

one or more irrevocable letters of credit

from one or more banks in favor of the

Trustee. As an alternative, System

Energy may provide an insurance policy

for the payment of the Tax-Exempt

Bonds or pledge one or more new series

of First Mortgage Bonds up to an

aggregate amount not to exceed $565

million (‘‘Collateral Bonds’’). The terms

of the Collateral Bonds relating to

maturity, interest payment dates,

redemption provisions and acceleration

will correspond to the terms of the

related Tax-Exempt Bonds.

System Energy also proposes from

time to time through December 31, 2005

to enter into arrangements for the

issuance of municipal securities in an

aggregate principal amount not to

exceed $100 million (‘‘Municipal

Securities’’) to be issued in one or more

series through a state or local municipal

entity on behalf of System Energy.

System Energy proposes to use the net

proceeds from the issuance and sale of

the bonds and Debentures to acquire

and retire at any time or from time to

time prior to December 31, 2005, by

means of tender offer, open market,

negotiated or other purchases, or

redemption, in whole or in part, prior to

their respective maturities, one or more

series of outstanding Tax-Exempt

Bonds.

For the Commission by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–26109 Filed 10–11–00; 8:45 am]

BILLING CODE 8010–01–M