UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
)
APPLICATION/DECLARATION BY THE CONNECTICUT LIGHT AND ) CERTIFICATE AS TO
POWER COMPANY AND WESTERN MASSACHUSETTS ELECTRIC ) CONSUMMATION
COMPANY WITH RESPECT TO REFINANCING OF INDEBTEDNESS ) OF TRANSACTION
RELATING TO POLLUTION CONTROL FACILITIES )
)
File No. 70-8088 ) 35-CERT
)
(Public Utility Holding Company Act of 1935) )
)
)
)
Reference is hereby made to (i) the Application/Declaration on Form U-1,
as amended, filed by The Connecticut Light and Power Company ("CL&P") and
Western Massachusetts Electric Company ("WMECO" and, together with CL&P,
the "COMPANIES") in the above-referenced proceeding (the "DECLARATION") and
(ii) the Order of the Securities and Exchange Commission set forth in
Release No. 35-25881 (September 15, 1993) permitting the Declaration to
become effective (the "ORDER"). Capitalized terms used herein and not
otherwise defined are used as defined in the Declaration.
On October 1, 1998, the Companies exercised their options under the Bond
Documents to cause the interest rates on the New Bonds to be converted for
their remaining terms to bear interest at fixed rates (instead of their
previous variable weekly rates), as described in the Declaration.
Following such conversion, the CL&P New Bonds-A, in principal amount of
$245,500,000, bear interest at the rate of 5.85%; the CL&P New Bonds-B, in
principal amount of $70,000,000, bear interest at the rate of 5.95%; and
the WMECO New Bonds, in principal amount of $53,800,000, bear interest at
the rate of 5.85% per annum. Following such conversion, the New Bonds are
no longer supported by the Letters of Credit.
Pursuant to the Public Utility Holding Company Act of 1935, as amended,
and Rule 24(a) thereunder, CL&P and WMECO each hereby certifies that the
interest rate conversion transactions described above have been carried out
in accordance with the terms and conditions of and for the purposes
represented by Declaration, and of the Order.
Contemporaneously with the conversion of the New Bonds as aforesaid,
CL&P also exercised its option to convert the interest rates on three other
series of similar pollution control revenue bonds from variable weekly
rates to long-term fixed rates. The three other series of bonds that were
converted, together with the New Bonds, are as follows:
<TABLE>
<CAPTION>
SERIES PRINCIPAL AMOUNT FIXED INTEREST SEC SEC RELEASE NO.
RATE FILE NO. (DATE OF SEC RELEASE)
<S> <C> <C> <C> <C>
CL&P 1986 $15,400,000 5.90% 70-7320 35-24263
(December 16, 1986)
CL&P 1988 $10,000,000 5.90% 70-7543 35-24734
(October 24, 1988)
CL&P 1992A $21,000,000 5.85% 70-8060 35-25692
(December 3, 1992)
CL&P 1993A $245,500,000 5.85% 70-8088 35-25881
(September 15, 1993)
CL&P 1993B $70,000,000 5.95% 70-8088 35-25881
(September 15, 1993)
WMECO 1993A $53,800,000 5.85% 70-8088 35-25881
(September 15, 1993)
</TABLE>
Contemporaneously with the filing of this Certificate as to Consummation of
Transaction, CL&P is filing a Certificate as to Consummation of Transaction
with respect to each such other conversion.
[SIGNATURE PAGE FOLLOWS]
<PAGE>
Dated: October 8, 1998
THE CONNECTICUT LIGHT AND POWER COMPANY
By /s/ Richard J. Wasserman
Richard J. Wasserman
For Day, Berry & Howard LLP
CityPlace I
Hartford, Connecticut 06103-3499
Its Attorneys
WESTERN MASSACHUSETTS ELECTRIC COMPANY
By /s/ Richard J. Wasserman
Richard J. Wasserman
For Day, Berry & Howard LLP
CityPlace I
Hartford, Connecticut 06103-3499
Its Attorneys
