<PAGE>
Securities and Exchange Commission
Washington, DC 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) - November 1, 1996
Minnesota Power & Light Company
A Minnesota Corporation
Commission File No. 1-3548
IRS Employer Identification No. 41-0418150
30 West Superior Street
Duluth, Minnesota 55802
Telephone - (218) 722-2641
<PAGE>
Item 5. Other Events.
A. Southern States Utilities Receives Final Rate Order
On November 1, 1996 the Florida Public Service Commission (FPSC) issued its
final order in the Southern States Utilities, Inc. (SSU) rate case. The order
officially established water and wastewater rates for all customers of SSU
regulated by the FPSC. The new rates, which became effective for services
rendered on and after September 20, 1996, will result in an annualized increase
of approximately $11.1 million in revenue. This increase includes, and is not in
addition to, the $7.9 million increase in annualized revenue granted as interim
rates effective for services rendered on and after January 23, 1996. SSU
requested an $18.1 million rate increase in June 1995.
On November 1, 1996 SSU filed with the First District Court of Appeals an
appeal of the FPSC order seeking judicial review of key issues relating to the
amount of investment in utility facilities recoverable in rates from current
customers.
Florida law provides that the new rates be implemented while the order is
under appeal. SSU is a wholly owned subsidiary of Minnesota Power & Light
Company (Minnesota Power).
B. ADESA Adds Two New Auto Auction Locations
On November 1, 1996 ADESA Corporation (ADESA), the nation's third largest
provider of wholesale vehicle remarketing services and a wholly owned subsidiary
of Minnesota Power, announced the acquisition of Gulf States Auto Auction in
Dallas, Texas. This auction facility is located in the Dallas suburb of Mesquite
and will be known as ADESA Dallas. It is situated on a 31 acre site, and is
equipped with six lanes and full service reconditioning facilities. The auction
has been in operation since 1990 and, in three of the last four years, it has
ranked as the top volume program car auction for Toyota Motor Sales, USA.
On November 6, 1996 ADESA acquired substantially all the assets of
Interstate Auto Auctions, Inc. in Mercer, Pennsylvania. The new ADESA subsidiary
will be known as ADESA Pittsburgh. This auction, which has conducted business
for over 25 years, operates on 54 acres, features seven auction lanes, and is
equipped with full service reconditioning facilities.
Both acquisitions are consistent with ADESA's strategic plan to accelerate
the growth and profitability of ADESA and improve operating efficiencies. ADESA
now owns and operates 25 automobile auctions in the United States and Canada
through which used cars and other vehicles are sold to franchised automobile
dealers and licensed used car dealers.
-1-
<PAGE>
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Minnesota Power & Light Company
-----------------------------------
(Registrant)
November 7, 1996 D. G. Gartzke
-----------------------------------
D. G. Gartzke
Senior Vice President - Finance
and Chief Financial Officer
-2-
