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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: (Date of earliest event reported) May 20, 1999
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Franklin Receivables LLC
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(Exact Name of Registrant as Specified in Charter)
Delaware 333-56869 94-3301-790
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(State of Incorporation) (Commission File Number) (I.R.S. Employer
Identification No.)
47 West 200 South, Suite 500
Salt Lake City, Utah 84101
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including area code (302) 636-3305
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. Other Events
On or about May 27, 1999, Franklin Receivables LLC transferred
approximately $106,523,953 of Prime, Non-Prime and Sub-Prime motor vehicle
retail installment sale contracts (the "Receivables"), to Franklin Auto Trust
1999-1 (the "Trust"). The Trust transferred the Receivables to The Chase
Manhattan Bank, as indenture trustee ("Indenture Trustee"), who in turn issued
Class A-1 5.52% Asset Backed Notes (the "Class A-1 Notes") in the aggregate
original principal amount of $66,500,000 due December 2002 and Class A-2 6.05%
Asset Backed Notes (the "Class A-2 Notes") in the aggregate original principal
amount of $40,023,000 due December 2006.
ITEM 7. Financial Statements and Exhibits
(a) Financial Statements - Not Applicable
(b) Pro Forma Financial Information - Not Applicable
(c) Exhibits
Item 601(a) of Regulation S-K
Exhibit No. Description
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23.1 Consent of Independent Accountants as to the balance sheet of the
Trust.
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Trust has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FRANKLIN AUTO TRUST 1999-1, by
Franklin Capital Corporation as the Servicer
/s/ Jennifer J. Bolt
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Name: Jennifer J. Bolt
Title: President
May 24, 1999
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INDEX TO EXHIBITS
Exhibit No. Description
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23.1 Consent of Independent Accountants as to the balance sheet of the
Trust.
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Exhibit 23.1
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CONSENT OF INDEPENDENT ACCOUNTANTS
May 20, 1999
We consent to the inclusion of our report dated May 12, 1999 on our
audit of the balance sheet of Franklin Auto Trust 1999-1 as of May 12, 1999 in
the Prospectus Supplement to the Prospectus dated May 14, 1999.
/s/ PricewaterhouseCoopers LLP
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PricewaterhouseCoopers LLP
