File No. 70-8421
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C 20549
Amendment No. 4
(Post-Effective Amendment No. 2)
FORM U-1
APPLICATION OR DECLARATION
under
The Public Utility Holding Company Act of 1935
THE SOUTHERN COMPANY
64 Perimeter Center East
Atlanta, Georgia 30346
(Name of company or companies filing this statement
and addresses of principal executive offices)
THE SOUTHERN COMPANY
(Name of top registered holding company parent
of each applicant or declarant)
Tommy Chisholm, Secretary
The Southern Company
64 Perimeter Center East
Atlanta, Georgia 30346
(Names and addresses of agents for service)
The Commission is requested to mail signed copies of all
orders, notices and communications to:
W. L. Westbrook John D. McLanahan
Financial Vice President Troutman Sanders
The Southern Company 600 Peachtree Street, N.E.
64 Perimeter Center East Suite 5200
Atlanta, Georgia 30346 Atlanta, Georgia 30308-2216
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INFORMATION REQUIRED
Post-Effective Amendment No. 1 (Amendment No. 3) to the
Application or Declaration heretofore filed in this proceeding is
hereby amended by restating Item 1.2, Proposed Modifications to
1994 Order, in its entirety, as follows:
"1.2 Proposed Modifications to 1994 Order. Southern
now requests a further order of the Commission modifying the 1994
Order in the following respects:
First, Southern proposes that the authorization period
be extended one year to the earlier of (i) December 31, 1997, and
(ii) the effective date of any rule of general applicability
adopted by the Commission that would exempt the issuance of
securities by any Project Parent and the acquisition thereof by a
registered holding company from the provisions of Sections 6, 7,
9, and 10 of the Act.
Second, Southern requests authority to make direct or
indirect investments in Project Parents in an aggregate amount
which, when added to Southern's "aggregate investment" at any
point in time in all EWGs, FUCOs, and Project Parents, does not
exceed the greater of (x) $1.072 billion, and (y) 50% of
Southern's "consolidated retained earnings," determined in
accordance with Rule 53(a) (hereinafter, the "Rule 53
Limitation"). The current Rule 53 Limitation ($1.072 billion) is
based on Southern's "consolidated retained earnings" and
"aggregate investment" at March 31, 1995, as shown in Item 1.3,
below. In any case in which an investment by Southern in a
Project Parent takes the form of a guaranty by Southern of a
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security of a Project Parent that is denominated in a currency
other than U.S. dollars, the amount of such guaranty, for
purposes of determining Southern's "aggregate investment," would
be determined by converting the stated or face amount of the
underlying security into U.S. dollars at currency exchange rates
in effect at the time such guaranty is issued by Southern.
Third, Southern seeks authority for Project Parents to
issue debt securities to persons other than Southern (and with
respect to which there is no recourse to Southern) evidencing
borrowings in either U.S. dollars or foreign currencies. The
aggregate principal amount of all such non-recourse debt
securities at any time outstanding will not exceed $1 billion.
For the purpose of this limitation, the principal amount of debt
securities evidencing borrowings in currencies other than U.S.
dollars would be determined using the currency exchange rates in
effect at the time a Project Parent contracts to issue such debt.
Except as specifically noted above, no other
modifications to the terms, conditions, limitations and
restrictions set forth in the 1994 Order are proposed herein."
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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.
Dated: June 27, 1995 THE SOUTHERN COMPANY
By:/s/Tommy Chisholm
Tommy Chisholm, Secretary
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