SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM U-7D
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CERTIFICATE PURSUANT TO RULE 7(d)
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
(As adopted in Release No. 35-18000, May 31, 1973)
(Reflecting transfer of beneficial ownership)
The undersigned certify that this certificate accurately summarizes, as
required in the instructions hereto, the information requested as to the lease
identified herein and the transactions for the financing thereof.
1. Lessee public-utility company
El Paso Electric company
303 North Oregon Street
El Paso, Texas 79401
2. Date: Lease dated as of May 1, 1980.
3. Date facility placed in service
June 12, 1980.
4. Initial term of lease
"stub" period 6/12 - 7/2/80
20 year term 7/2/80 - 7/2/2000
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4a. Renewal options
The lease may be extended for one five-year period and thereafter one
two-year period at Lessee's election.
5. Brief description of facility
Westinghouse Electric Corporation W-501B4 Econo-Pak combustion Turbine
Generating Unit consisting of one 73 megawatt combustion turbine directly
connected to generator, complete with gas turbine mechanical package, gas
turbine electrical package, gas turbine starting package, controller, main
transformer, water tank, fuel tank, and other auxiliary equipment.
6. Manufacturer or supplier
The Owner Trustees named in Item 9 below purchased the turbine and
other components of the Combustine Turbine Generating Unit from Michael McCune,
not in his individual capacity but solely as trustee under a Trust Agreement
dated as of December 15, 1977, between him and Shannon Research Corporation, and
purchased certain other components and auxiliary equipment from El Paso Electric
Company. The original manufacturers or suppliers were Westinghouse Electric
Corporation, which manufactured and supplied the Combustine Turbine Generating
Unit, General Electric Company, which manufactured and supplied the transformer,
and Brown & Root, Inc., which built or supplied the remaining items.
7. Cost of facility: $11,800,000.
8. Basic rent
Initial term: $30,015,896
8a. Periodic installments
The lease rentals, payable semi-annually in arrears on January 2 and
July 2 of each year will be as follows:
Semi-Annual Rent Per Rental Period
Period Dates (as % of Lessor's Cost) (Amount)
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"stub" 6/12/80-7/2/80 0% $0
1 & 2 1/2/81-7/2/81 0% $0
3-21 1/2/81-1/2/91 6.0929% $718,962
22-40 7/2/81-7/2/2000 7.2951% $860,822
9. Holder of legal title to facility
First Security Bank, N.A. (formerly First Security Bank of Utah, N.A.)
and Randy R. Marchant (as successor to Robert S. Clark), as not in their
individual capacities but solely as the Owner Trustees under a Trust Agreement
dated as of May 1, 1980, between the Owner Trustees and The Bank of New York.
Address: P.O. Box 30007
Salt Lake City, Utah 84125
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10. Holder of beneficial interest
Name and Amount Percent of
Address Invested Equity
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Initial: The Bank of New York $11,800,0001 100%
48 Wall Street
New York, NY 10005
Transferee: SIP-GT I, Inc. $ 9,800,8252 100%
c/o Southern Indiana Properties, Inc.
100 N.W. Second Street,
Suite 310
Evansville, IN 47708-0006
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1. $3,543,517.58 of this amount was contributed to the Trust as an equity
investment by the Bank of New york and the balance of $8,256,482.42 was borrowed
as set forth in Item 11 below.
2. This amount includes the assumption of the note obligation identified in item
11 below.
11. If part or all of the financing is supplied by loan on which only
principal and interest is payable, state:
Amount borrowed: 8,256,482.42
Interest rate: 15-3/4%
Number of lenders: 5
Terms of repayment: For each
$1,000,000 of principal
amount of the notes to the
lenders payments of
principal and interest
shall be as follows:
Payment Date Amount of Payment
1/2/81-12/1/81 $54,984.61
1/2/82-12/2/92 $60,460.76
1/2/93-12/2/93 $55,491.28
1/2/94-12/2/94 $50,591.66
1/2/95-12/2/95 $46,245.29
1/2/96-12/2/96 $42,011.28
1/2/97-12/2/97 $38,791.07
1/2/98-12/2/98 $36,563.06
1/2/99-12/2/99 $34,193.79
1/2/2000-12/2/2000 $35,267.92
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Date Executed Signature of Holder of Legal Title
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December 1, 1997 FIRST SECURITY BANK N.A. and RANDY R.
MARCHANT, not in their individual capacities,
but solely as trustees under a Trust Agreement
dated as of May 1, 1980 between them and
SIP-GT I, Inc. (assignee of interest initially held by
The Bank of New York),
as Owner Trustees
By: FIRST SECURITY BANK, N.A.,
not in its individual capacity, but
solely as Corporate Trustee,
By: /s/ Janeen R. Higgs
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Title: Assistant Trust Officer
By: /s/ Randy R. Marchant
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RANDY MARCHANT, not in his individual
capacity, but solely as Individual Trustee
Date Executed Signature of Holder of Beneficial Interest
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December 1, 1997 SIP-GT I, INC.
By: /s/ Glenn E. Jungen
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Title: Vice President
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