UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
)
APPLICATION/DECLARATION OF THE CONNECTICUT LIGHT AND ) CERTIFICATE AS TO
POWER COMPANY WITH RESPECT TO FINANCING OF POLLUTION ) CONSUMMATION
CONTROL AND/OR SEWAGE OR SOLID WASTE DISPOSAL ) OF TRANSACTION
FACILITIES )
)
File No. 70-7320 ) 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") in
the above-referenced proceeding (the "DECLARATION") and (ii) the Order of
the Securities and Exchange Commission set forth in Release No. 35-24263
(December 16, 1986) permitting the Declaration to become effective (the
"ORDER"). Capitalized terms used herein and not otherwise defined are used
as defined in the Declaration.
On September 30, 1998, CL&P exercised its option under the Indenture to
cause the interest rates on the Bonds to be converted for their remaining
term to bear interest at fixed rates (instead of their previous variable
weekly rates), as described in the Declaration. Following such conversion,
the Bonds, in principal amount of $15,400,000 bear interest at the rate of
5.90% per annum. Following such conversion, the Bonds are no longer
supported by the Letter of Credit.
Pursuant to the Public Utility Holding Company Act of 1935, as amended,
and Rule 24(a) thereunder, CL&P hereby certifies that the interest rate
conversion transaction described above has 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 Bonds as aforesaid, CL&P
and its affiliate Western Massachusetts Electric Company ("WMECO") also
exercised their options to convert the interest rates on five other series
of similar pollution control revenue bonds from variable weekly rates to
long-term fixed rates. The five other series of bonds that were converted,
together with the 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 and WMECO, as applicable, are filing a Certificate as to
Consummation of Transaction with respect to each such other conversion.
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
