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File No. 70-8649
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
U-1/A
AMENDMENT NO. 1
under
The Public Utility Holding Company Act of 1935
NATIONAL FUEL GAS COMPANY HORIZON ENERGY
10 Lafayette Square DEVELOPMENT, INC.
Buffalo, New York 14203 10 Lafayette Square
Buffalo, New York 14203
(Name of company or companies filing this statement
and addresses of principal executive offices)
NATIONAL FUEL GAS COMPANY
(Name of top registered holding company parent
of each applicant or declarant)
P. C. Ackerman, Senior Vice President B. H. Hale
National Fuel Gas Company Horizon Energy Development, Inc.
10 Lafayette Square 10 Lafayette Square
Buffalo, New York 14203 Buffalo, New York 14203
(Names and addresses of agents for service)
The Commission is requested to mail signed copies of all
orders, notices and communications to:
B. H. Hale G. T. Wehrlin
10 Lafayette Square Controller
Buffalo, New York 14203 National Fuel Gas Company
10 Lafayette Square
Buffalo, New York 14203
Kyle G. Storie
10 Lafayette Square
Buffalo, New York 14203
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1) The INTRODUCTION is hereby amended by the addition of Footnote
1 at the end of the second sentence of the second paragraph (p. 1).
"<F1> At some point it may be determined that it is
advantageous for National to undertake Project
Activities without going through Horizon. This
would be accomplished via direct investment by
National, through one or more transactions, in one
or more companies engaged directly or indirectly,
in Project Activities. For ease of discussion,
this Application/Declaration as written, seeks
authorization for National to carry on Project
Activities through Horizon. However, the
Applicants hereby seek approval to undertake all
of the activities contemplated hereunder via
direct investment by National and/or through
Horizon with the understanding that all
restrictions contained herein relating to
investments by or through Horizon will apply
equally to investments made without going through
Horizon."
2) Footnote <F1> at p. 8 is hereby renumbered <F2>.
3) Item I., DESCRIPTION OF PROPOSED TRANSACTION is hereby amended
as follows:
a) Delete the first and second sentence of Section A.
Financing for Horizon in their entirety and replace with
the following:
"Horizon is a newly formed business corporation that has
20,000 shares of authorized but unissued common stock and
which has had no business activity to date. The initial
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financing for Horizon to cover start up and early project
developments will be provided by the acquisition by
National of 500 shares of Horizon common stock, par value
$1.00 per share, for $1,000,000.00."
b) Delete the sixth and seventh sentence of Section A.
Financing for Horizon and replace with the following:
Any loans by National to Horizon that are nine (9) months
or less in duration shall have terms and conditions
parallel to those of similar loans obtained by National,
the proceeds of which are lent to Horizons. The interest
rates on such loans shall not exceed then-current LIBOR
rates plus 200 basis points. Any loans by National to
Horizon having maturities of more than nine (9) months
shall have terms and conditions parallel to those of
similar loans obtained by National, the proceeds of which
are lent to Horizons. The interest rates on such loans
shall not exceed then-current yields on Treasuries having
similar maturities plus 200 basis points. All loans by
National to Horizons shall not in the aggregate exceed $150
million at any one time outstanding.
c) Insert "(including Debt Financing of Intermediate
Companies)" between "Financing" and "guaranteed" in the
fifth line of the third paragraph of Section A.
d) Section D. entitled Request Regarding Activities Related to
Intermediate Companies is amended as follows:
(i) Insert "exclusively" between "are" and "in" in the
seventh to the last line.
(ii) Insert "exclusively" between "engage" and "in" in the
last line.
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e) Delete the last paragraph of Section E. entitled Request
for Authorization Regarding Domestic Power Projects.
f) Section F. entitled Request for Authorization for the
Provision of Services is relettered "F-1".
g) Delete the first four paragraphs of Section F.1.
h) The first sentence of the reformulated Section F.1 is
amended to read in its entirety as follows:
"Applicants hereby request an exemption from Section 13 and
Rule 83 of the Act, so that any subsidiary of National may
provide such services at market rates in regard to Exempt
Projects involving entities that do not derive, directly or
indirectly, any material part of their income from sources
within the United States and are not public utility
companies operating in the United States."
i) The following sentence is added to the end of Section F.1.
"In no instance, however, will such services be provided
below cost."
j) A new Paragraph F-2 entitled "Consulting and Operation
Services" is hereby added and shall read in its entirety as
follows:
"Applicants request authority to provide consulting and
operation services to third parties in regard to overseas
and domestic energy related projects where Applicants have
no equity interest in the project. For example, Horizon
may provide consulting services (or be the operator of) a
newly built gas pipeline regarding safety issues, O&M,
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accounting, dispatching and the myriad of other functions
necessary for the successful operation of a gas pipeline.
Such services would be offered at market prices, but shall
not be provided below cost."
SIGNATURE
Pursuant to the requirements of the Public Utility Holding
Company Act of 1935, the undersigned companies have duly caused this
Amendment to the application-declaration to be signed on their behalf
by the undersigned thereunto duly authorized.
Dated: July 20, 1995 NATIONAL FUEL GAS COMPANY
By: /s/ Philip C. Ackerman
Philip C. Ackerman
Senior Vice President
HORIZON ENERGY DEVELOPMENT, INC.
By: /s/ Bruce H. Hale
Bruce H. Hale
Incorporator
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