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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) March 14, 2000
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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 (801) 238-6700
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. Other Events
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On or about March 29, 2000, Franklin Receivables LLC transferred
approximately $123,002,883 of Prime, Non-Prime and Sub-Prime motor vehicle
retail installment sale contracts (the "Receivables"), to Franklin Auto Trust
2000-1 (the "Trust"). The Trust transferred the Receivables to The Chase
Manhattan Bank, as indenture trustee ("Indenture Trustee"), who in turn issued
Class A-1 Asset Backed Notes (the "Class A-1 Notes") in the aggregate original
principal amount of $76,000,000 due August 2003 and Class A-2 Asset Backed Notes
(the "Class A-2 Notes") in the aggregate original principal amount of
$47,002,000 due October 2007.
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 (PricewaterhouseCoopers
LLP) as to the consolidated financial statements of MBIA
Insurance Corporation and Subsidiaries and as to the
reference of PricewaterhouseCoopers LLP under the caption
"Experts" in the Prospectus Supplement dated as of March 14,
2000. Incorporated by reference to Form 8-K filed on March
14, 2000 with the SEC.
23.2 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 RECEIVABLES LLC, by
Franklin Capital Corporation as the Servicer
/s/ Harold E. Miller
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Name: Harold E. Miller
Title: President
March 14, 2000
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INDEX TO EXHIBITS
Exhibit No. Description
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23.1 Consent of Independent Accountants (PricewaterhouseCoopers
LLP) as to the consolidated financial statements of MBIA
Insurance Corporation and Subsidiaries and as to the reference
of PricewaterhouseCoopers LLP under the caption "Experts" in
the Prospectus Supplement dated as of March 14, 2000.
Incorporated by reference to Form 8-K filed on March 14, 2000
with the SEC.
23.2 Consent of Independent Accountants as to the balance sheet of
the Trust.
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Exhibit 23.1
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in the Prospectus
Supplement of Franklin Capital Corporation, relating to Franklin Auto Trust
2000-1, of our report dated February 2, 1999, on our audits of the consolidated
financial statements of MBIA Insurance Corporation and Subsidiaries as of
December 31, 1998 and 1997 and for each of the three years in the period ended
December 31, 1998. We also consent to the reference to our Firm under the
caption "Experts".
/s/ PricewaterhouseCoopers LLP
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PricewaterhouseCoopers LLP
March 13, 2000
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Exhibit 23.2
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the use in this Prospectus Supplement to the
Prospectus of our report dated March 13, 2000 relating to the balance sheet of
Franklin Auto Trust 2000-1 which appears in such Prospectus. We also consent to
the reference to us under the heading "Experts" in such Prospectus.
/s/ PricewaterhouseCoopers LLP
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PricewaterhouseCoopers LLP
Salt Lake City, Utah
March 13, 2000
