File No. 70-8955
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 5 to
FORM U-1
DECLARATION WITH RESPECT TO AUTHORIZATION OF
A REVOLVING CREDIT FACILITY FOR EASTERN UTILITIES ASSOCIATES
AND CERTAIN OF ITS SUBSIDIARIES
UNDER
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
EASTERN UTILITIES ASSOCIATES ("EUA")
P.O. Box 2333, Boston, Massachusetts 02107
BLACKSTONE VALLEY ELECTRIC COMPANY ("BLACKSTONE")
Washington Highway, Lincoln, Rhode Island 02865
EASTERN EDISON COMPANY ("EASTERN")
110 Mulberry Street, Brockton, Massachusetts 02403
MONTAUP ELECTRIC COMPANY ("MECO")
P.O. Box 2333, Boston, Massachusetts 02107
NEWPORT ELECTRIC CORPORATION ("NEWPORT")
12 Turner Road, Middleton, Rhode Island 02840
(Names of companies filing this statement
and addresses of their principal executive offices)
EASTERN UTILITIES ASSOCIATES
(Name of top registered holding company
parent of applicant or declarant)
CLIFFORD J. HEBERT, JR., TREASURER
EASTERN UTILITIES ASSOCIATES
P.O. Box 2333, Boston, Massachusetts 02107
(Name and address of agent for service)
The Commission is requested to mail signed copies
of all orders, notices and communications to:
ARTHUR I. ANDERSON, P.C.
McDermott, Will & Emery
75 State Street
Boston, Massachusetts 02109
This Amendment No. 5 (the "Amendment") amends the Declarants'
Declaration on Form U-1 dated November 8, 1996, as amended by Amendment No.
1 dated December 2, 1996, Amendment No. 2 dated January 29, 1997, Amendment
No. 3 dated March 27, 1997 and Amendment No. 4 dated April 9, 1997.
1. Paragraph 2.B. of item 1 is hereby amended and restated in its
entirety to read as follows:
B. Use of proceeds. The Facility will be used: (1) to pay, reduce
or renew outstanding notes payable to banks as they become due; (2) to
finance the Declarants' respective cash construction expenditures for
fiscal years 1996 - 2000; (3) to provide funds to meet certain sinking fund
requirements and retirements or redemptions of outstanding securities; (4)
in the case of EUA, to make short term loans, capital contributions and
open account advances in accordance with Rule 45(b)(4) or Rule 52 or as
previously authorized by the Commission to Cogenex, EEIC and EUA Energy;
(5) for the Declarants' respective working capital requirements; (6) for
investment in exempt wholesale generators, as defined in Section 32 of the
Act ("EWGs"), and foreign utility companies, as defined in Section 33 of
the Act ("FUCOs"); and (7) for other general corporate purposes; provided,
that the aggregate proceeds of borrowings under the Facility at any time
invested in EWGs and FUCOs shall not, when added to EUA's "aggregate
investment" in all EWGs and FUCOs, exceed 50% of EUA's "consolidated
retained earnings," each as defined in Rule 53 under the Act; and further
provided, that at the time of each such investment of proceeds of
borrowings in an EWG or FUCO, EUA shall be in compliance with the other
requirements of Rule 53(a) under the Act, and none of the circumstances
stated in Rule 53(b) shall exist.
2. Paragraph 4 of Item 1 is hereby amended and restated in its entirety to
read as follows:
4. EWGs. All applicable conditions contained in Rule 53(a) are, and
assuming the consummation of the proposed transactions will be, satisfied
and none of the conditions contained in Rule 53(b) exist or will exist as a
result of the proposed transactions making Rule 53(c) inapplicable.
SIGNATURE
Pursuant to the requirements of the Public Utility Holding Company Act
of 1935, each of the undersigned Declarants has duly caused this statement
to be signed on its behalf by the undersigned duly authorized individual.
EASTERN UTILITIES ASSOCIATES,
BLACKSTONE VALLEY ELECTRIC COMPANY,
EASTERN EDISON COMPANY,
MONTAUP ELECTRIC COMPANY, and
NEWPORT ELECTRIC CORPORATION,
By: /s/ Clifford J. Hebert, Jr.
Clifford J. Hebert, Jr.
Treasurer
Dated: April 14, 1997
