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File No. 70-8359
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 1 TO
FORM U-1 APPLICATION-DECLARATION
UNDER THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
______________________
CENTRAL POWER AND LIGHT COMPANY
539 N. Carancahua Street
Corpus Christi, Texas 78401
(Name of company filing this statement and address
of principal executive office)
______________________
CENTRAL AND SOUTH WEST CORPORATION
(Name of top registered holding company parent)
______________________
David P. Sartin
Controller
Central Power and Light Company
539 N. Carancahua Street
Corpus Christi, Texas 74801
Stephen J. McDonnell
Treasurer
Central and South West Corporation
1616 Woodall Rodgers Freeway
Dallas, Texas 75202
George J. Forsyth, Esq.
Milbank, Tweed, Hadley & McCloy
1 Chase Manhattan Plaza
New York, New York 10005
(Names and addresses of agents for service)
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Central Power and Light Company (the "Company"), a Texas corporation,
is a wholly-owned electric utility subsidiary of Central and South West
Corporation ("CSW"), a Delaware corporation and a registered holding company
under the Public Utility Holding Company Act of 1935, as amended (the "Act").
The Company hereby amends its Application-Declaration in File No. 70-8359 in
the following respects. In all other respects, the Application-Declaration as
previously filed will remain the same.
Item 1. Description of Proposed Transactions.
Item 1 is hereby amended to restate the second paragraph, and to add
a new third paragraph, under the heading "Use of Proceeds" to read as follows:
The Company will not redeem the Old Preferred Stock with the proceeds
from the sale of the Additional Preferred Stock unless the estimated present
value savings derived from the net difference between dividend payments on a
hypothetical new issue of preferred stock of a structure comparable to the
structure of the Old Preferred Stock is, on an after-tax basis, greater than
the present value of all redemption, tender and issuance costs, assuming a
discount rate based on the estimated dividend rate on the Additional Preferred
Stock.
The Company will not use the proceeds from the sale of the Additional
Preferred Stock to acquire the securities of or any interest in (i) any exempt
wholesale generators (as such term is defined in Section 32(e) of the Act as
amended by the Comprehensive Energy Policy Act of 1992) (an "EWG") until such
time as such investment shall be approved by order or regulation of the
Commission, or (ii) any foreign utility companies (as such term is defined in
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Section 33(a) of the Act as amended by the Comprehensive Energy Policy Act of
1992) (a "FUCO") until such time as such investment shall be approved by order
or regulation of the Commission. Neither CSW nor any of its subsidiaries has
an ownership interest in an EWG or FUCO, and neither CSW nor any of its
subsidiaries is a party to a service, sale or construction agreement with an
EWG or FUCO.
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S I G N A T U R E
- - - - - - - - -
Pursuant to the requirements of the Public Utility Holding Company
Act of 1935, as amended, the undersigned company has duly caused this document
to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: March 8, 1994
CENTRAL POWER AND LIGHT COMPANY
By: /s/ DAVID P. SARTIN
David P. Sartin
Controller
