63268 Federal Register / Vol. 65, No. 205 / Monday, October 23, 2000 / Notices

6 Gulf’s outstanding preferred stock includes

three series of preferred stock, par value $100 per

share, consisting of a 4.64% series, of which 12,503

shares are outstanding, a 5.16% series, of which

13,574 shares are outstanding and a 5.44% series,

of which 16,284 shares are outstanding.

7 Gulf has outstanding 992,717 shares of common

stock, no par value. Gulf has outstanding no other

class of equity securities.

8 Georgia has outstanding 7,761,500 shares of

common stock, no par value. The Georgia common

stock constitutes its only outstanding securities

entitled to vote on the Amendment.

1The note will provide for payments to be made

by IES at times and in amounts, which will

correspond to the payments regarding the principal

of, premium, if any, and interest on the related TaxExempt Bonds.

Amendment requires a majority of the

voting power of the outstanding

preferred stock of all series, voting as

one class,6 and a majority of its common

stock.7 Adoption of the Amendment by

Georgia requires the affirmative vote of

two-thirds of its common stock.8

If the proposed Amendments are

adopted, the Subsidiaries propose that

each of Alabama, Gulf and Mississippi

make special cash payments

(‘‘Payments’’) to each preferred

stockholder whose shares of preferred

stock were properly voted in favor of the

proposed Amendment. The proposed

Payments will not exceed 0.50% of the

stated capital or par value, as

appropriate, per share of each

company’s outstanding preferred stock,

except that Payments made by Alabama

respecting the 1988 Auction Preferred

and the 1993 Auction Preferred will not

exceed 0.125% of the stated capital per

share. The Subsidiaries state that each

of Alabama, Gulf and Mississippi will

disburse Payments out of its general

funds, promptly after adoption of the

proposed Amendment.

The Subsidiaries request that an order

authorizing the solicitation of proxies by

Alabama, Gulf and Mississippi be

issued as soon as practicable under rule

62(d). It appears to the Commission that

the Subsidiaries’ declaration relating to

the proposed solicitation of proxies

should be permitted to become effective

immediately under rule 62(d).

Additional fees and expenses not

exceeding $100,000 are anticipated in

connection with these transactions. It is

that no state or federal commission,

other than this Commission, has

jurisdiction over the proposed

transaction.

It is Ordered, under rule 62 under the

Act, that the declaration regarding the

proposed solicitation of proxies become

effective immediately, subject to the

term and conditions contained in rule

24 under the Act.

For the Commission, by the Division of

Investment Management, under delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–27130 Filed 10–20–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 35–27251]

Filings Under the Public Utility Holding

Company Act of 1935, as Amended

(‘‘Act’’)

October 13, 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

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

November 7, 2000, to the Secretary,

Securities and Exchange Commission,

Washington, DC 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 November 7, 2000, the

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

filed or as amended, may be granted

and/or permitted to become effective.

IES Utilities (70–9375)

IES Utilities (‘‘IES’’), Alliant Energy

Tower, Cedar Rapids, Iowa 52401, a

wholly owned gas and electric utility

subsidiary company of Alliant Energy

Corporation, a registered holding

company, has filed a post-effective

amendment under sections 6(a) and 7 of

the Act and rule 54 under the Act to a

declaration previously filed under the

Act.

By order dated November 25, 1998

(HCAR No. 26945) (‘‘Current Financing

Order’’), the Commission authorized IES

to issue and sell from time to time,

through December 31, 2000, in one or

more series, any combination of

collateral trust bonds (‘‘Trust Bonds’’),

senior unsecured debentures (‘‘Senior

Debentures’’) and unsecured

subordinated debentures

(‘‘Subordinated Debentures’’). The

current Financing Order also authorized

IES to enter into an agreement or

agreements for the issuance and sale of

one or more series of tax-exempt bonds

(‘‘Tax-Exempt Bonds’’), maturing not

later than 30 years from the first day of

the month in which they are initially

issued, for the financing or refinancing

and air and water pollution control

facilities and sewage and solid water

disposal facilities (‘‘Facilities’’). As

security for IES’s obligations under any

agreement relating to the Tax-Exempt

Bonds, IES was also authorized to: (1)

Issue its non-negotiable promissory note

or notes to evidence loans to IES of the

proceeds of the Tax-Exempt Bonds by

the issuer; 1 (2) convey a subordinated

security interest in any Facilities that

are financed through the issuance of

Tax-Exempt Bonds; (3) issue and pledge

one or more new series of Trust Bonds;

(4) acquire and deliver letters of credit

guaranteeing payment of the TaxExempt Bonds and enter into related

reimbursement agreements; (5) acquire

insurance policies guaranteeing

payment of the Tax-Exempt Bonds; and

(6) provide a direct guarantee of

payment of the principal of and

premium, if any, and interest on the

Tax-Exempt Bonds.

Under the Current Financing Order,

the aggregate principal amount of the

Trust Bonds, Senior Debentures,

Subordinated Debentures, and TaxExempt Bonds shall not exceed $200

million, excluding the principal amount

of any Trust Bonds issued as collateral

security for Tax-Exempt Bond

obligations and any other forms of

collateral related to the Tax-Exempt

Bonds. Each series of Trust Bonds,

Senior Debentures and Subordinated

Debentures will mature not later than 30

years from the day of issuance. The

Current Financing Order provides that

no series of Trust Bonds will be issued

at rates in excess of the lower of 15%

per annum or those rates generally

obtainable at the time of pricing for the

first mortgage bonds having reasonably

similar maturities, issued by companies

of the same or reasonably comparable

credit quality and having reasonably

similar terms, conditions and features

(‘‘Ceiling Rate’’). Further, the Current

Financing Order provides that no series

of Senior Debentures or Subordinated

Debentures will be sold if their fixed

interest rate or initial adjustable interest

rate exceeds the Ceiling Rate.

IES now proposes to extend the

authorization period under the Current

Financing Order from December 31,

Federal Register / Vol. 65, No. 205 / Monday, October 23, 2000 / Notices 63269

2The note will provide for the payments to be

made by IPC at times and in amounts, which will

correspond to the payments regarding the principal

of, premium, if any, and interest on the related TaxExempt Bonds.

1Mobile Energy is wholly owned limited liability

company subsidiary of Holdings to which Holdings

transferred all of its assets other than its equity

interest in Mobile Energy in July 1995. Mobile

Energy is an electric utility company within the

meaning of section 2(a)(3) of the Act.

2000 to June 30, 2004 (‘‘Extended

Authorization Period’’). During the

Extended Authorization Period, IES

proposes to issue from time to time in

one or more transactions Trust Bonds,

Senior Debentures, and Unsecured

Debentures and to enter into agreements

with respect to Tax-Exempt Bonds in an

aggregate principal amount not to

exceed $200 million, excluding Trust

Bonds and any other form of collateral.

IES states that all other terms,

conditions, and limitations contained in

the Current Financing Order will

continue to apply.

Interstate Power Company (70–9377)

Interstate Power Company (‘‘IPC’’),

1000 Main Street, P.O. Box 769,

Dubuque, Iowa 52004–07691, a wholly

owned gas and electric utility subsidiary

company of Alliant Energy Corporation,

a registered holding company, has filed

a post-effective amendment under

sections 6(a) and 7 of the Act and rule

54 under the Act to its declaration

previously filed under the Act.

By order dated November 25, 1998

(HCAR No. 26946) (‘‘Current Financing

Order’’), the Commission authorized IPC

to issue and sell from time to time,

through December 31, 2000, in one or

more series, any combination of first

mortgage bonds (‘‘First Mortgage

Bonds’’), senior unsecured debentures

(‘‘Senior Debentures’’) and unsecured

subordinated debentures

(‘‘Subordinated Debentures’’). The

Current Financing Order also authorized

IPC to enter into an agreement or

agreements for the issuance and sale of

one or more series of tax-exempt bonds

(‘‘Tax-Exempt Bonds’’), maturing no

later than 30 years from the first day of

the month in which they are issued

initially, for the financing or refinancing

of air and water pollution control

facilities and sewage and solid waste

disposal facilities (‘‘Facilities’’). As

security for IPC’s obligations under any

agreement relating to the Tax-Exempt

Bonds, IPC was also authorized to: (1)

Issue its non-negotiable promissory note

or notes to evidence loans to IPC by the

issuer of the proceeds of the TaxExempt Bonds; 2 (2) convey a

subordinated security interest in any

Facilities that are financed through the

issuance of Tax-Exempt Bonds; (3) issue

and pledge one or more new series of

First Mortgage Bonds; (4) acquire and

deliver letters of credit guaranteeing

payment of the Tax-Exempt Bonds and

enter into related reimbursement

agreements; (5) acquire insurance

policies guaranteeing payment of the

Tax-Exempt Bonds; and (6) provide a

direct guarantee of payment of the

principal of and premium, if any, and

interest on the Tax-Exempt Bonds.

Under the Current Financing Order,

the aggregate principal amount of the

First Mortgage Bonds, Senior

Debentures, Subordinated Debentures,

and Tax-Exempt Bonds will not exceed

$80 million, excluding the principal

amount of any First Mortgage Bonds

issued as collateral security for TaxExempt Bond obligations and any other

forms of collateral related to the TaxExempt Bonds. Each series of First

Mortgage Bonds, Senior Debentures and

Subordinated Debentures will mature

not later than 30 years from the day of

issuance. The Current Financing Order

provides that no series of First Mortgage

Bonds will be issued at rates in excess

of the lower of 15% per annum or those

rates generally obtainable at the time of

pricing for first mortgage bonds having

reasonably similar maturities, issued by

companies of the same or reasonably

comparable credit quality and having

reasonably similar terms, conditions

and features (‘‘Ceiling Rate’’). Further,

the Current Financing Order provides

that no series of Senior Debentures or

Subordinated Debentures will be sold if

their fixed interest rate or initial

adjustable interest rate exceeds the

Ceiling Rate.

IPC now proposes to extend the

authorization period under the Current

financing Order from December 31,

2000 to June 30, 2004 (‘‘Extended

Authorization Period’’). During the

Extended Authorization Period, IPC

proposes to issue from time to time in

one or more transactions First Mortgage

Bonds, Senior Debentures and

Subordinated Debentures and to enter

into agreements regarding Tax-Exempt

Bonds in an aggregate principal amount

not to exceed $80 million, excluding

First Mortgage Bonds issued as

collateral for IPC’s Tax-Exempt Bond

obligations and any other related form

of collateral. IPC states that all other

terms, conditions and limitations

contained in the Current Financing

Order will continue to apply.

For the Commission, by the Division of

Investment Management, under delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–27131 Filed 10–20–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 35–27254]

Filing Under the Public Utility Holding

Company Act of 1935, as Amended

(‘‘Act’’)

October 16, 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

November 10, 2000, to the Secretary,

Securities and Exchange Commission,

Washington, DC 20549–0609, and serve

a copy on the relevant application(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 November 10, 2000, the

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

filed or as amended, may be granted

and/or permitted to become effective.

The Southern Company, et al. (70–9771)

The Southern Company (‘‘Southern’’),

270 Peachtree Street, NW., Atlanta,

Georgia 30303, a registered holding

company, and its wholly owned

subsidiaries, Mobile Energy Services

Holdings, Inc. (‘‘Holdings’’) and Mobile

Energy Services Company, L.L.C.

(‘‘Mobile Energy’’) 1 both located at 900

Ashwood Parkway, Suite 500, Atlanta

Georgia 30338 (collectively,

‘‘Applicants’’), have filed an

application-declaration (‘‘Application’’)

under sections 6(a), 7, 11(f), 11(g), 12(a),

12(b), 12(d), 12(e), 12(f) and rules 45, 54,

63 and 64 of the Act.