File No. 70-8449
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM U-1
POST-EFFECTIVE AMENDMENT NO. 1
to
APPLICATION-DECLARATION
under
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
Entergy Corporation Arkansas Power & Light Company
639 Loyola Avenue 425 West Capitol Avenue
New Orleans, Louisiana 70113 Little Rock, Arkansas 72201
Entergy Services, Inc. Louisiana Power & Light Company
639 Loyola Avenue 639 Loyola Avenue
New Orleans, Louisiana 70113 New Orleans, Louisiana 70113
System Fuels, Inc. Gulf States Utilities Company
350 Pine Street 350 Pine Street
Beaumont, Texas 77701 Beaumont, Texas 77701
Mississippi Power & Light Company New Orleans Public Service Inc.
308 East Pearl Street 639 Loyola Avenue
Jackson, Mississippi 39201 New Orleans, Louisiana 70113
System Energy Resources, Inc. Entergy Operations, Inc.
Echelon One 1340 Echelon Parkway
1340 Echelon Parkway Jackson, Mississippi 39213
Jackson, Mississippi 39213
(Names of companies filing this statement
and addresses of principal executive offices)
Entergy Corporation
(Name of top registered holding company parent
of each applicant or declarant)
<PAGE>
Entergy Services, Inc. ("ESI") has been authorized by
the Commission to enter into external borrowing arrangements
with one or more banks through November 30, 1996, subject to
the requirement that, prior to effecting any external
borrowings, ESI shall file a post-effective amendment
setting forth the bank or banks from which such borrowings
are to be effected and the terms and conditions thereof.
According, Item 1 - Description of Proposed Transactions,
Section V of the Application-Declaration is hereby amended
and supplemented by adding the following to the end of such
section:
ESI intends to enter into external borrowing
arrangements with the banks listed below, to be evidenced by
unsecured promissory notes allowing for loan advances up to
the aggregate principal amounts disclosed below.
First National Bank of Commerce, New $12,000,000
Orleans, LA
Hibernia National Bank, New Orleans, LA $12,000,000
Premier Bank, New Orleans, LA $12,000,000
Whitney National Bank, New Orleans, LA $12,000,000
Texas Commerce Bank, Beaumont, TX $12,000,000
Deposit Guaranty National Bank, Jackson, $10,000,000
MS
TOTAL $70,000,000
The promissory notes will be payable not later than May
31, 1995, and will bear interest on the unpaid principal
amount thereof at an interest rate per annum selected by ESI
from the following options: (i) the prime commercial loan
rate as published daily in the Money Section of the Wall
Street Journal (the "Prime Rate") from time to time in
effect, (ii) the sum of (A) specified offered rates for
bank certificates of deposit for amounts equivalent to such
borrowing and for selected interest periods, appropriately
adjusted for the cost of reserves, F.D.I.C. insurance and
any other customary amounts and (B) a margin not in excess
of 2% per annum (the "CD Rate"), (iii) the sum of (C)
specified rates offered for U.S. dollar deposits in the
interbank euro-dollar market for amounts equivalent to such
borrowing and for selected interest periods, appropriately
adjusted for the cost of reserves and any other customary
amounts and (D) a margin not in excess of 2% per annum (the
"LIBOR Rate"), or (iv) a rate, which would not in any event
exceed the Prime Rate, negotiated at the time of borrowing
with the bank (the "Bid Rate"). ESI has agreed to pay to
each bank a commitment fee computed at a rate of 1/8 of 1%
per annum of the total unused portion of each bank's
commitment. The selected rate will be the most favorable
effective borrowing rate to ESI taking into account
commitment fees and the proposed amount and maturity of each
borrowing.
A Guarantee Agreement will be executed by Entergy
Corporation in favor of each of the banks to guarantee the
obligations of ESI to the banks.
<PAGE>
Signature
Pursuant to the requirements of the Public Utility
Holding Company Act of 1935, the undersigned companies have
duly caused this amendment to be signed on their behalf by
the undersigned thereunto duly authorized.
Entergy Corporation
Entergy Services, Inc.
Arkansas Power & Light Company
Gulf States Utilities Company
Louisiana Power & Light Company
Mississippi Power & Light Company
New Orleans Public Service Inc.
System Energy Resources, Inc.
Entergy Operations, Inc.
System Fuels, Inc.
By: /s/Gerald D. McInvale
Gerald D. McInvale
Sr. Vice President &
Chief Financial Officer
Dated: November 28, 1994
