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70-7218
7113
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 35 (POST-EFFECTIVE) TO
FORM U-1 APPLICATION-DECLARATION
UNDER THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
__________________________
CSW CREDIT, INC.
1616 Woodall Rogers Freeway
P.O. Box 660164
Dallas, Texas 75202
CENTRAL AND SOUTH WEST CORPORATION
1616 Woodall Rogers Freeway
P.O. Box 660164
Dallas, Texas 75202
(Names of companies filing this application and
address of principal executive offices)
__________________________
CENTRAL AND SOUTH WEST CORPORATION
(Name of top registered holding company parent)
__________________________
Wendy G. Hargus
Treasurer
Central and South West Corporation
1616 Woodall Rogers Freeway
P.O. Box 660164
Dallas, Texas 75202
Joris M. Hogan
Milbank, Tweed, Hadley & McCloy
One Chase Manhattan Plaza
New York, New York 10005-1413
(Names and addresses of agents for service)
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Central and South West Corporation, a Delaware corporation ("CSW") and a
registered holding company under the Public Utility Holding Company Act of 1935,
as amended (the "Act"), and CSW Credit, Inc., a Texas corporation and a wholly--
owned non-utility subsidiary of CSW ("CSW Credit"), hereby amend the Form U-1
Application-Declarations in File Nos. 70-7218 & 70-- 7113 (the
"Application-Declarations") in the following respects. In all other respects the
Application-Declarations as previously filed and amended will remain the same.
Item 1. Description of the Proposed Transaction.
The final two paragraphs of Item 1 are deleted in their entirety and
replaced by the following:
CSW Credit will file the certificates required to be filed under
Rule 24 of the Act no later than 45 days after the end of each calendar quarter
containing the following information and statements:
(1) a balance sheet for CSW Credit as of the end of each
quarter; and a statement of income for the three-month and
twelve-month ended periods, accompanied by notes to the financial
statements;
(2) CSW Credit's principal amount of borrowings outstanding
at the end of each quarter and, in respect of each borrowing, the
term, name of the lender and effective cost of borrowing;
(3) in respect of CSW Credit's indebtedness, a calculation
of its earnings coverage in each month comprising the quarter, and a
calculation of CSW Credit's capital structure as of the end of each
quarter;
(4) twelve-month average of outstanding accounts receivable
in respect of affiliate and nonaffiliate companies, identified by name
and amount, and bad debt write-offs attributable to nonaffiliates,
identified by name and amount, as of the end of each month comprising
the quarter; provided that, if CSW Credit engages in
factoring-accounts receivable of any new associate public utility,
exempt wholesale generator or foreign utility company, thereafter, in
all quarterly certificates to be filed hereunder, CSW Credit shall
disclose the identity of such entity and provide the information
required in this item (4) in respect of such new entity; (5) discount
calculation for affiliate companies, and with respect to each
associate public utility, identified by name, the dollar amount of
discount between the retail and wholesale cost of capital;
(6) with respect to affiliate companies, an analysis of the
allowed returns on common equity of the CSW operating utility
subsidiaries as of the end of the quarter;
(7) factoring expense savings for affiliate companies;
(8) in respect of each quarter, the amount CP&L has received
attributable to the factoring of HL&P receivables by CSW Credit and
the related calculation of such amount;
(9) a copy of any state regulatory commission decision or
analysis addressing the effect of the factoring of CSW system accounts
receivable rates;
(10) a copy of CSW Credit's audited annual financial
statements; and
(11) a copy of the accounting system procedures and chart of
accounts of CSW Credit maintained by Central and South West Services,
Inc.
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S I G N A T U R E
Pursuant to the requirements of the Public Utility Holding
Company Act of 1935, as amended, the undersigned company has duly
caused this document to be signed on its behalf by the undersigned
thereunto duly authorized.
Dated: February 4, 1997
CENTRAL AND SOUTH WEST CORPORATION
By: /s/WENDY G. HARGUS
Wendy G. Hargus
Treasurer
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S I G N A T U R E
Pursuant to the requirements of the Public Utility Holding
Company Act of 1935, as amended, the undersigned company has duly
caused this document to be signed on its behalf by the undersigned
thereunto duly authorized.
Dated: February 4, 1997
CSW CREDIT, INC.
By:/s/ STEPHEN D. WISE
Stephen D. Wise
Treasurer
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