Post Effective Amendment No. 15 to
SEC File No. 70-7926
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM U-l
DECLARATION
UNDER
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 ("Act")
GPU, INC.("GPU")
300 Madison Avenue
Morristown, New Jersey 07962
JERSEY CENTRAL POWER & LIGHT COMPANY ("JCP&L")
METROPOLITAN EDISON COMPANY ("Met-Ed")
PENNSYLVANIA ELECTRIC COMPANY ("Penelec")
2800 Pottsville Pike
Reading, Pennsylvania 19640
(Names of companies filing this statement and
address of principal executive offices)
GPU, INC.
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(Name of top registered holding company parent of applicants)
T. G. Howson, Douglas E. Davidson, Esq.
Vice President and Treasurer Thelen Reid & Priest LLP
S.L. Guibord, Secretary 40 West 57th Street
GPU Service, Inc. New York, New York 10019
300 Madison Avenue
Morristown, New Jersey 07962 W. Edwin Ogden, Esq.
Ryan, Russell, Ogden & Seltzer LLP
1100 Berkshire Boulevard, Suite 301
Reading, Pennsylvania 19610-1221
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(Names and addresses of agents for service)
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GPU, JCP&L, Met-Ed and Penelec (the "GPU Companies") hereby
post-effectively amend their Declaration on Form U-1, docketed in SEC File No.
70-7926, as follows:
A. By Orders dated December 22, 1997 (HCAR No. 35-26801) and July 17,
1996 (HCAR No. 35-26544), the Commission, among other things, authorized (1) the
GPU Companies to issue, sell and renew from time to time through December 31,
2000 their respective unsecured promissory notes, maturing not more than nine
months after issuance, to various commercial banks pursuant to loan
participation arrangements and informal lines of credit ("Lines of Credit") in
amounts up to the limitations on short-term indebtedness contained in their
respective charters and, in the case of GPU, up to $250 million; (2) JCP&L,
Met-Ed and Penelec to issue and sell from time to time through December 31, 2000
their unsecured short-term promissory notes as commercial paper ("Commercial
Paper") in amounts up to the limits permitted by their respective charters; (3)
the GPU Companies to issue, sell and renew unsecured promissory notes to lenders
other than commercial banks, insurance companies or similar institutions ("Other
Short-Term Debt") from time to time through December 31, 2000 in amounts up to
the limitations on short-term indebtedness contained in their respective
charters and, in the case of GPU, up to $250 million, and (4) the GPU Companies
to issue, sell and renew from time to time through May 6, 2001 unsecured
promissory notes pursuant to an amended and restated credit agreement ("Credit
Agreement") up to $250 million (borrowings under Lines of Credit, Commercial
Paper and Other Short-Term Debt are collectively referred to as "Short-Term
Borrowings").
B. By Declaration dated March 30, 1999 ("1999 Declaration"), the GPU
Companies sought authority to: (i) permit Met-Ed and Penelec to issue and sell
Short-Term Borrowings from time to time through December 31, 2003 of up to $150
million and $150 million, respectively, outstanding at any one time
("Met-Ed/Penelec Short-Term Borrowing Authority"); (ii) extend the period during
which the GPU Companies may issue unsecured promissory notes under the Credit
Agreement or in the form of Short-Term Borrowings to December 31, 2003; and
(iii) permit GPU to issue and sell from time to time through December 31, 2003
Commercial Paper in an aggregate amount of up to $100 million.
C. By Order dated June 22, 1999 (the "1999 Order"), the Commission
permitted the 1999 Declaration to become effective. Both the 1999 Declaration
and the 1999 Order
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contained an inadvertent typographical error such that the Met-Ed/Penelec
Short-Term Borrowing Authority was authorized through December 31, 2000, rather
than through December 31, 2003 as intended. The GPU Companies now seek
clarification that the Met-Ed/Penelec Short-Term Borrowing Authority will be in
effect through December 31, 2003.
D. Item 2 is hereby amended to read in its entirety as follows:
Item 2. Fees, Commissions and Expenses.
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The estimated fees, commissions and expenses expected to be incurred by
the GPU Companies in connection with the proposed transactions are as follows:
Legal Fees
Thelen Reid & Priest LLP $2,500
Miscellaneous 500
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Total $3,000
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<PAGE>
SIGNATURE
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PURSUANT TO THE REQUIREMENTS OF THE PUBLIC UTILITY
HOLDING COMPANY ACT OF 1935, THE UNDERSIGNED COMPANIES HAVE DULY
CAUSED THIS STATEMENT TO BE SIGNED ON THEIR BEHALF BY THE
UNDERSIGNED THEREUNTO DULY AUTHORIZED.
GPU, INC.
JERSEY CENTRAL POWER & LIGHT COMPANY
METROPOLITAN EDISON COMPANY
PENNSYLVANIA ELECTRIC COMPANY
By: /s/ T. G. Howson
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T. G. Howson,
Vice President and Treasurer
Date: December 8, 2000
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