SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 CERTIFICATE
In the Matter of OF
Cinergy Corp. et al. NOTIFICATION
File No. 70-8767
(Public Utility Holding Company Act of 1935)
With reference to the transactions (a) proposed in the Application-
Declaration on Form U-1, as amended, in the above proceeding filed by Cinergy
Corp., a registered holding company ("Cinergy"), Cinergy Investments, Inc.,
Cinergy's nonutility subholding company ("Investments"), and Cinergy
Services, Inc., Cinergy's service company subsidiary ("Cinergy Services"; and
together with Cinergy and Investments, the "Applicants"), and (b) authorized
by the Commission in its order dated February 20, 1996 (Rel. No. 35-26474),
Services hereby notifies the Commission, on behalf of itself and the other
Applicants, as follows:
1. Enclosed herewith as Exhibit A are an unaudited balance sheet and income
statement of Cinergy Cooling Corp. ("CoolCo") as of and for the calendar
quarterly period ended March 31, 1997 ("First Quarter").
2. Summary of business activities during First Quarter:
(a) Construction. The central plant, located at 4th and Walnut Streets
in downtown Cincinnati, went into service on April 1, 1997. Construction for
three blocks of distribution piping is scheduled to be completed by the end
of May. Construction of additional distribution piping will be contingent on
customers. Additional construction of the plant is scheduled for the first
quarter of 1998.
(b) Marketing & Sales. Four buildings have signed contracts for
chilled water service. A verbal commitment has been made for two additional
buildings. The existing installed capacity has been committed to customers.
Additional sales will come from future plant expansion.
3. Summary of financing activities during First Quarter:
(a) Investments made a series of open-account advances to CoolCo
totaling approximately $4,925,845 bearing interest at annual interest rates
between 5 and 6%.
4. Summary of services received by CoolCo during First Quarter from Cinergy
Services, identifying each service by function and the aggregate cost thereof
charged to CoolCo:
(a) listing of services provided by Cinergy Services:
(i) legal and executive (including engineering and construction
management)
(b) total dollar amount of services provided:
(i) $331,000
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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.
Date: May 29, 1997
CINERGY SERVICES, INC.
By:/s/William L. Sheafer
Vice President and Treasurer
<TABLE>
<CAPTION>
CINERGY COOLING CORP.
STATEMENT OF INCOME (UNAUDITED)
QUARTER ENDED MARCH 31, 1997
(in thousands)
Cinergy Cooling
<S> <C>
Operating Revenues ........................................... $ 0
Operating Expenses
Other operation .............................................. 0
Income Taxes ................................................. 0
Taxes other than income taxes ................................ 0
-----
0
Operating Income ............................................. --
Other Income and Expense - Net
Income Taxes ................................................. 281
Other - net .................................................. (808)
-----
(527)
Income (Loss) Before Interest and
Other Charges ................................................ (527)
Other interest ............................................... (4)
-----
Net Income (Loss) ............................................ $(523)
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY COOLING CORP.
BALANCE SHEET (UNAUDITED)
AT MARCH 31, 1997
(in thousands)
ASSETS
<S> <C>
Current Assets
Accounts receivable .......................................... $ --
Accounts receivable - affiliates ............................. --
Other ........................................................ --
------
------
Other Assets
Nonutility property .......................................... --
Accumulated depreciation ..................................... --
------
------
Construction work in progress ................................ 8,744
------
8,744
Other ........................................................ 9
------
8,753
$8,753
</TABLE>
<TABLE>
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Common Stock Equity
Paid-in capital ........................................... $ --
Retained earnings (deficit) ............................... (1,319)
--------
Total common stock equity ................................. (1,319)
Current Liabilities
Accounts payable .......................................... --
Accounts payable - affiliates ............................. 10,352
Accrued taxes ............................................. (280)
--------
10,072
Other Liabilities
Deferred income taxes ..................................... --
Other ..................................................... --
--------
$ 8,753
</TABLE>
