File No. 70-8397
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Amendment No. 1
to
FORM U-1
APPLICATION OR DECLARATION
under
The Public Utility Holding Company Act of 1935
GULF POWER COMPANY
500 Bayfront Parkway
Pensacola, Florida 32501
(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)
Warren E. Tate
Secretary and Treasurer
Gulf Power Company
500 Bayfront Parkway
Pensacola, Florida 32501
(Names and addresses of agents for service)
The Commission is requested to mail signed copies of all orders,
notices and communications to the above agents for service and
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
John D. McLanahan, Esq.
Troutman Sanders
600 Peachtree Street, N.E.
Suite 5200
Atlanta, Georgia 30308-2216
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INFORMATION REQUIRED
Item 1. Description of Proposed Transactions.
Item 1.3 is hereby amended by deleting it in its entirety and
replacing it with the following:
1.3 Gulf also may effect short-term borrowings hereunder in
connection with the financing of certain pollution control facilities
through the issuance by public entities of their revenue bond
anticipation notes. Under an agreement with each such public entity,
the entity would effectively loan to Gulf the proceeds of the sale of
such revenue bond anticipation notes, having a maturity of not more
than one year after date of issue, and Gulf may issue its
non-negotiable promissory note therefor. Such note would provide for
payments thereon to be made at times and in amounts which shall
correspond to the payments with respect to the principal of, premium,
if any, and interest, which shall not exceed the prime rate, on such
revenue bond anticipation notes, whenever and in whatever manner the
same shall become due, whether at stated maturity, upon redemption or
declaration or otherwise.
Gulf requests that the Commission reserve jurisdiction over the
issuance by Gulf of its non-negotiable promissory notes pursuant to
this Item 1.3 pending completion of the record with respect thereto.
Item 1.5 is hereby amended by deleting it in its entirety and
replacing it with the following:
1.5 Pursuant to orders of the Commission, Gulf has authority to
effect short-term borrowings prior to April 1, 1996 as set forth in
Commission File No. 70-7937 (HCAR No. 35-25507, dated March 31, 1992,
HCAR No. 35-25932, dated November 30, 1993, and HCAR No. 35-25989,
dated February 16, 1994). At March 22, 1994, borrowings in an
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aggregate principal amount of approximately $58,000,000 were
outstanding pursuant to such authorization. Gulf proposes that the
authorization sought in this file would supersede and replace, with
respect to Gulf, authorizations in File No. 70-7937 effective
immediately upon the date of the Commission's order herein.
Item 3. Applicable Statutory Provisions.
The first paragraph of Item 3.1 is hereby amended by deleting it
in its entirety and replacing it with the following:
3.1 Gulf considers that the issuance and sale of the short-term
notes and commercial paper notes are currently exempt to the extent
set forth above from the provisions of Sections 6(a) and 7 of the Act
under the first sentence of Section 6(b) and that upon the granting
of this application will be so exempt to the extent of the maximum
aggregate principal amounts of the bank notes and commercial paper
notes which it proposes to issue. With respect to the term-loan
borrowings and the issuance of notes as described in Item 1.3, Gulf
considers that the provisions of Sections 6(a) and 7 of the Act are
applicable to the proposed transactions.
SIGNATURES
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.
Dated April 6, 1994 GULF POWER COMPANY
By /s/ Wayne Boston
Wayne Boston
Assistant Secretary
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