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[Federal Register Volume 65, Number 221 (Wednesday, November 15, 2000)]
[Notices]
[Page 69072]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-29113]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-27270]

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

November 7, 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 
promulated uner 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 4, 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 laws 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 4, 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, Entergy Arkansas, Inc., 425 
West Capitol, Little Rock, Arkansas 72201, Entergy Louisiana, Inc., 
4809 Jefferson Highway, Jefferson, Louisiana 70121, Entergy Missippi, 
Inc., 308 East Pearl Street, Jackson, Mississippi 39201, Entergy New 
Orleans, Inc., 1600, Perdido 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. An 
initial notice of the filing of the application-declaration was issued 
on October 4, 2000 (HCAR No. 27240) (``Initial Notice'').
    The Initial Notice described System Energy's Proposal to engage in 
certain financing transactions from time to time through December 31, 
2005. Among other things, System Energy proposed: (1) 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; (2) 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; (3) to enter into arrangements for the issuance 
and sale of tax-exempt revenue bonds in an aggregate principal amount 
not to exceed $500 million (``Tax-Exempt Bonds''); (4) to provide for a 
more favorable rating, on the Tax-Exempt Bonds by arranging for letters 
of credit, an insurance policy, or additional first mortgage bonds up 
to an aggregate amount not to exceed $565 million; and (5) 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.
    Applicants now want to provide terms and conditions for the 
Municipal Securities. Each series of Municipal Securities will be sold 
at such price, will bear interest at such rate, either fixed or 
adjustable, and will mature on such date (not earlier than one year nor 
more than fifty years from the first day of the month of issuance) as 
will be determined at the time of sale. No series of Municipal 
Securities will be sold if the fixed interest rate or initial 
adjustable interest rate thereon would exceed 15% per annum. One or 
more series of Municipal Securities may include provisions for 
redemption or retirement prior to maturity, including restrictions on 
optional redemption for a given number of years.
    In order to obtain a more favorable rating and thereby improve the 
marketability of the Municipal Securities, System Energy may (1) 
arrange for one or more letters of credit from one or more banks up to 
an aggregate amount of $115 million, (2) provide an insurance policy 
for the payment of the principal, premium, if any, interest and 
purchase obligations in connection with one or more series of Municipal 
Securities, or (3) issue one or more series of new collateral bonds up 
to an aggregate amount of $115 million. In addition, System Energy may 
grant a lien, subordinate to the lien of the Mortgage on certain assets 
of System Energy.

    For the Commission, by the Division of Investment Management, 
under delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-29113 Filed 11-14-00; 8:45 am]
BILLING CODE 8010-01-M
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