File No. 70-8443
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Amendment No. 3
(Post-Effective No. 1)
to
Form U-1
APPLICATION OR DECLARATION
under
The Public Utility Holding Company Act of 1935
GEORGIA POWER COMPANY
333 Piedmont Avenue, N.E.
Atlanta, Georgia 30308
(Name of company or companies filing this statement
and addresses of principal executive offices)
THE SOUTHERN COMPANY
(Name of top registered holding company parent
of each applicant or declarant)
Judy M. Anderson
Vice President and Corporate Secretary
Georgia Power Company
333 Piedmont Avenue, N.E.
Atlanta, Georgia 30308
(Names and addresses of agents for service)
The Commission is requested to mail signed copies
of all orders, notices and communications to:
W. L. Westbrook John F. Young
Financial Vice President Vice President
The Southern Company Southern Company Services, Inc.
64 Perimeter Center East One Wall Street, 42nd Floor
Atlanta, Georgia 30346 New York, New York 10005
Warren Y. Jobe John D. McLanahan, Esq.
Executive Vice President and Troutman Sanders
Chief Financial Officer 600 Peachtree Street, N.E.
Georgia Power Company Suite 5200
333 Piedmont Avenue, N.E. Atlanta, Georgia 30308-2216
Atlanta, Georgia 30308
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INFORMATION REQUIRED
Item 1. Description of Proposed Transactions.
Item 1 is hereby amended by adding thereto the
following:
"The effective cost to the Company of any series of the
Revenue Bonds will not exceed the yield on U.S. Treasury
securities having a maturity comparable to that of such series of
Revenue Bonds. Such effective cost will reflect the applicable
interest rate or rates and any underwriters' discount or
commission.
The premium (if any) payable upon the redemption of any
Revenue Bonds at the option of Georgia will not exceed the
greater of (i) 5% of the principal amount of the Revenue Bonds so
to be redeemed, or (ii) a percentage of such principal amount
equal to the rate of interest per annum borne by such Revenue
Bonds.
The purchase price payable by or on behalf of Georgia
in respect of Revenue Bonds tendered for purchase at the option
of the holders thereof will not exceed 100% of the principal
amount thereof, plus accrued interest to the purchase date.
Any Letter of Credit issued as security for the payment
of Revenue Bonds will be issued pursuant to a Reimbursement
Agreement between Georgia and the financial institution issuing
such Letter of Credit. Pursuant to the Reimbursement Agreement,
Georgia will agree to pay or cause to be paid to the financial
institution, on each date that any amount is drawn under such
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institution's Letter of Credit, an amount equal to the amount of
such drawing, whether by cash or by means of a borrowing from
such institution pursuant to the Reimbursement Agreement. Any
such borrowing may have a term of up to 10 years and will bear
interest at the lending institution's prevailing rate offered to
corporate borrowers of similar quality which will not exceed the
prime rate or (i) the London Interbank Offered Rate plus up to
3/8 of 1%, (ii) the lending institution's certificate of deposit
rate plus up to 1/2 of 1%, or (iii) a rate not to exceed the
prime rate, to be established by agreement with the lending
institution prior to the borrowing."
SIGNATURE
Pursuant to the requirements of the Public Utility
Holding Company Act of 1935, the undersigned company has duly
caused this amendment to be signed on its behalf by the
undersigned thereunto duly authorized.
GEORGIA POWER COMPANY
Dated: September 15, 1994 By: /s/Wayne Boston
Wayne Boston
Assistant Secretary
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