[Federal Register: November 22, 2005 (Volume 70, Number 224)]
[Notices]
[Page 70646-70647]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr22no05-113]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-28064]
Filing Under the Public Utility Holding Company Act of 1935, as
Amended (``Act'')
November 15, 2005.
Notice is hereby given that the following filing has been made with
the Commission pursuant to provisions of the Act and rules promulgated
under the Act. All interested persons are referred to the application-
declaration for complete statements of the proposed transactions
summarized below. The application-declaration and any amendments are
available for public inspection through the Commission's Branch of
Public Reference.
Interested persons wishing to comment or request a hearing on the
application-declaration should submit their views in writing by
December 12, 2005, to the Secretary, Securities and Exchange
Commission, Washington, DC 20549-0609, and serve a copy on Applicants
at the addresses specified below. Proof of service (by affidavit or, in
the case of an attorney at law, by certificate) should be filed with
the request. Any request for hearing should 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 December 12, 2005, the
application-declaration, as filed or as amended, may be granted and/or
permitted to become effective.
National Fuel Gas Company, et al. (70-10074)
National Fuel Gas Company (``NFG''), a registered holding company,
National Fuel Gas Distribution Corporation (``Distribution''), a
public-utility subsidiary company of NFG, and NFG's nonutility
subsidiary companies, National Fuel Gas Supply Corporation, Horizon
Energy Development, Inc. and its subsidiaries, Highland Forest
Resources, Inc. and its subsidiaries, Leidy Hub, Inc., Data-Track
Account Services, Inc., Horizon LFG, Inc. and its subsidiaries, Horizon
Power, Inc. and its subsidiaries, all at 6363 Main Street,
Williamsville, New York 14221, Seneca Resources Corporation and its
subsidiaries, at 1201 Louisiana Street, Suite 400 Houston, Texas 77002,
and National Fuel Resources, Inc. at 165 Lawrence Bell Drive, Suite
120, Williamsville, New York 14221 (Distribution and NFG's nonutility
subsidiary companies are collectively referred to as,
``Subsidiaries''), have filed a post-effective amendment to their
application-declaration filed under sections 6(a), 7, 9(a), 10, 12(b),
12(f), and 13 of the Act and rules 45 and 54 under the Act.
By order dated November 12, 2002 (HCAR No. 27600) (``Prior Order'')
the Commission authorized NFG and its Subsidiaries to engage in
financing and related transactions through December 31, 2005
(``Authorization Period''). Specifically, the Commission authorized:
(i) NFG to increase equity and long-term debt capitalization in an
aggregate amount of up to an additional $1.5 billion, excluding any
common stock issued under NFG's shareholder rights plan, and to utilize
the proceeds to make investments in its Subsidiaries, and for other
corporate purposes; (ii) NFG to issue and sell from time to time up to
$750 million principal amount of unsecured short-term debt securities
such as commercial paper and notes issued under credit facilities;
(iii) NFG and the Subsidiaries to enter into interest rate hedges with
respect to outstanding indebtedness and to enter into certain
anticipatory interest rate hedging transactions; (iv) NFG to guarantee
securities of its Subsidiaries and provide other forms of credit
support with respect to obligations of its Subsidiaries as may be
necessary in the ordinary course of business in an aggregate amount not
to exceed $2 billion outstanding at any one time; (v) NFG to continue
to administer the NFG
[[Page 70647]]
system money pool (``Money Pool'') and invest surplus funds in the
Money Pool and for the Subsidiaries to invest surplus funds and make
borrowing from the Money Pool subject to certain limitations; (vi) NFG
and the nonutility subsidiary companies to organize and acquire the
securities of one or more entities (``Financing Subsidiary'') formed
for the purpose of effecting financing transaction for NFG and its
Subsidiaries and to guarantee the obligations of such Financing
Subsidiaries; (vii) NFG and the Subsidiaries to change the terms of any
majority-owned nonutility subsidiary authorized capitalization; and
(viii) NFG to consolidate or otherwise reorganize all or any part of
its direct and indirect ownership interest in nonutility subsidiaries.
Under the Prior Order the Commission reserved jurisdiction over (i)
the issuance of securities by NFG and are rated below investment grade,
and (ii) the solicitation of shareholder approvals in connection with
the adoption of any new stock-based plan or the extension or amendment
of any existing stock-based plan.
NFG and its Subsidiaries are now requesting the Commission extend
the Authorization Period from December 31, 2005 to and including
February 8, 2006. NFG and its Subsidiaries (70-10074) are not
requesting any other changes to the terms, conditions, and limitations
imposed under the Prior Order.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. E5-6411 Filed 11-21-05; 8:45 am]
BILLING CODE 8010-01-P