<PAGE> File No. 70-8337
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
* * *
OHIO VALLEY ELECTRIC CORPORATION
P.O. Box 468, Piketon, Ohio 45661
INDIANA-KENTUCKY ELECTRIC CORPORATION
P.O. Box 468, Piketon, Ohio 45661
(Name of companies filing this statement and
addresses of principal executive offices)
* * *
AMERICAN ELECTRIC POWER COMPANY, INC.
1 Riverside Plaza, Columbus, Ohio 43215
(Name of top registered holding company
parent of each applicant or declarant)
* * *
G. P. Maloney, Executive Vice President
AMERICAN ELECTRIC POWER SERVICE CORPORATION
1 Riverside Plaza, Columbus, Ohio 43215
A. Joseph Dowd, General Counsel
AMERICAN ELECTRIC POWER SERVICE CORPORATION
1 Riverside Plaza, Columbus, Ohio 43215
(Names and addresses of agents for service)<PAGE>
The undersigned Ohio Valley Electric Corporation ("OVEC")
hereby amends its Application or Declaration on Form U-1 in File
No. 70-8337 by adding Indiana-Kentucky Electric Corporation thereto
and amending and restating ITEMS 1, 3 and 6 to read as follows:
ITEM 1. DESCRIPTION OF PROPOSED TRANSACTIONS.
"Indiana-Kentucky Electric Corporation ('IKEC'), a
subsidiary of Ohio Valley Electric Corporation ('OVEC') requests
authorization to enter into a reimbursement obligation in
connection with the issuance of a letter of credit to satisfy the
requirements of the Indiana financial responsibility law relating
to the fly ash landfill located at the Clifty Creek Plant of IKEC.
OVEC also requests authorization to enter into an agreement or
agreements of indemnity or act as surety or guarantor for IKEC in
connection with such reimbursement obligation.
Indiana law requires that permittees of a solid waste
landfill in the state satisfy certain financial responsibility
standards. Such standards can be satisfied by its net worth or a
trust fund, surety bond, letter of credit or insurance. IKEC owns
a fly ash landfill at its Clifty Creek Plant for which it must show
financial responsibility of $7,410,600 for its estimated closure
and post-closure costs. IKEC may have to show increased financial
responsibility in the future if the estimated costs increase.
Neither IKEC nor OVEC satisfies the net worth requirement. As a
result, IKEC may have to satisfy the requirement by means of a
letter of credit.
The letter of credit would be in an aggregate amount
equal to the amount required under Indiana law, but not to exceed
$10,000,000. Drawings under the letter of credit would bear
interest at not more than 3% above the bank's prime rate as in
effect from time to time. IKEC also may be required to pay an
annual fee which will not exceed 1% of the face amount of the
letter of credit.
In order to lower the cost of such letter of credit, OVEC
requests authorization to indemnify the bank issuing such letter of
credit for any payments or to guarantee the obligation of IKEC to
reimburse such bank for such payments. OVEC will charge no fee to
IKEC for such indemnity or guaranty."
ITEM 3. APPLICABLE STATUTORY PROVISIONS.
"OVEC and IKEC consider Sections 6(a), 7, 12(b) and 12(f)
of the 1935 Act and Rule 45 thereunder to be applicable to the
proposed transactions."
ITEM 6. EXHIBITS AND FINANCIAL STATEMENTS.
"The following exhibits and financial statements are
filed as part of this statement:
Exhibit B Form of Reimbursement Agreement (to be
filed by amendment)
Exhibit E None
Exhibit F Opinion of Counsel (previously filed)
Exhibit G-1 Form of Notice
It is not believed that financial statements are necessary or
relevant to a disposition of this Application or Declaration."
SIGNATURE
Pursuant to the requirements of the Public Utility
Holding Company Act of 1935, the undersigned company has duly
caused this statement to be signed on its behalf by the undersigned
thereunto duly authorized.
OHIO VALLEY ELECTRIC CORPORATION
INDIANA-KENTUCKY ELECTRIC CORPORATION
By_/s/ G. P. Maloney____________
Vice President
Dated: January 28, 1994
ovcfinan.94\amendu-1.#1
<PAGE>
Exhibit G-1
UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
Release No. /February , 1994
________________________________________
:
In the Matter of :
:
:
OHIO VALLEY ELECTRIC CORPORATION :
P.O. Box 468 :
Piketon, OH 45661 :
:
(70- ) :
________________________________________:
NOTICE OF PROPOSED GUARANTY OF LIABILITIES
NOTICE IS HEREBY GIVEN that Ohio Valley Electric Corporation
("OVEC"), an electric utility subsidiary of American Electric Power
Company, Inc., a registered holding company, and Indiana-Kentucky
Electric Corporation ('IKEC'), a subsidiary of OVEC, have filed
with this Commission an Application or Declaration pursuant to Sec-
tions 6(a), 7, 12(b) and 12(f) of the Public Utility Holding
Company Act of 1935 (the "Act") and Rule 45 thereunder.
IKEC has requested authorization to enter into a reimbursement
obligation in connection with the issuance of a letter of credit to
satisfy the requirements of the Indiana financial responsibility
law relating to the fly ash landfill located at the Clifty Creek
Plant of IKEC. OVEC also has requested authorization to enter into
an agreement or agreements of indemnity or act as surety or
guarantor for IKEC in connection with such reimbursement
obligation.
Indiana law requires that permittees of a solid waste landfill in
the state satisfy certain financial responsibility standards. Such
standards can be satisfied by its net worth or a trust fund, surety
bond, letter of credit or insurance. IKEC owns a fly ash landfill
at its Clifty Creek Plant for which it must show financial
responsibility of $7,410,600 for its estimated closure and post-
closure costs. IKEC may have to show increased financial
responsibility in the future if the estimated costs increase.
Neither IKEC nor OVEC satisfies the net worth requirement. As a
result, IKEC may have to satisfy the requirement by means of a
letter of credit.
The letter of credit would be in an aggregate amount equal to the
amount required under Indiana law, but not to exceed $10,000,000.
Drawings under the letter of credit would bear interest at not more
than 3% above the bank's prime rate as in effect from time to time.
IKEC also may be required to pay an annual fee which will not
exceed 1% of the face amount of the letter of credit.
In order to lower the cost of such letter of credit, OVEC requests
authorization to indemnify the bank issuing such letter of credit
for any payments or to guarantee the obligation of IKEC to
reimburse such bank for such payments. OVEC will charge no fee to
IKEC for such indemnity or guaranty.
The Application or Declaration and any amendments thereto are
available for public inspection through the Commission's Office of
Public Reference. Interested persons wishing to comment or request
a hearing should submit their views in writing by February , 1994
to the Secretary, Securities and Exchange Commission, Washington,
D.C. 20549, and serve a copy on the applicant at the address
specified above. Proof of service (by affidavit or, in case of any
attorney at law, by certificate) should be filed with the request.
Any request for a hearing shall identify specifically the issues of
fact or law that are disputed. A person who so requests will be
notified of any hearing, if ordered, and will receive a copy of any
notice or order issued in this matter. After said date, the
Application, as filed or as it may be amended, may be permitted to
become effective.
For the Commission, by the Office of Public Utility Regulation,
pursuant to delegated authority.
Jonathan G. Katz
Secretary
ovcfinan.94\notice.2
