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17482 Federal Register / Vol. 70, No.

65 / Wednesday, April 6, 2005 / Notices

Dated: April 1, 2005. extension (301) 415–4737, or by e-mail forth the subject on which each
Suzanne Bolton, to pdr@nrc.gov. participant will speak, and the time
Committee Management Officer. A copy of the license renewal allotted for each presentation. The
[FR Doc. 05–6780 Filed 4–5–05; 8:45 am] application for the Monticello Nuclear agenda will be available at the hearing.
Generating Plant is also available to A written summary of the hearing will
local residents near the Monticello be compiled, and such summary will be
Nuclear Generating Plant at the made available, upon written request to
Monticello Public Library, 200 West 6th OPIC’s Corporate Secretary, at the cost
Street, Monticello, MN 55362. of reproduction.
Dated at Rockville, Maryland, this 31st day CONTACT PERSON FOR INFORMATION:
[Docket No. 50–263] of March, 2005. Information on the hearing may be
Nuclear Management Company, LLC; For the Nuclear Regulatory Commission. obtained from Connie M. Downs at (202)
Notice of Receipt and Availability of Pao-Tsin Kuo, 336–8438, via facsimile at (202) 218–
Application for Renewal of Monticello Program Director, License Renewal and 0136, or via e-mail at cdown@opic.gov.
Nuclear Generating Plant Facility, Environmental Impacts Program, Division of Dated: April 4, 2005.
Regulatory Improvement Programs, Office of
Operating License No. DPR–22, for an Connie M. Downs,
Nuclear Reactor Regulation.
Additional 20-Year Period OPIC Corporate Secretary.
[FR Doc. E5–1558 Filed 4–5–05; 8:45 am]
[FR Doc. 05–6928 Filed 4–4–05; 11:42 am]
The U.S. Nuclear Regulatory BILLING CODE 7590–01–P
Commission (NRC or Commission) has
received an application, dated March
16, 2005, from Nuclear Management OVERSEAS PRIVATE INVESTMENT
Section 104b (DPR–22) of the Atomic COMMISSION
Energy Act of 1954, as amended, and 10 Public Hearing
CFR part 54, to renew the operating
April 21, 2005. [Release No. 35–27954; 70–10285]
license for the Monticello Nuclear
Generating Plant. Renewal of the license Time and Date: 2 p.m., Thursday,
April 21, 2005. PNM Resources, Inc.; Filings Under the
would authorize the applicant to Public Utility Holding Company Act of
Place: Offices of the Corporation,
operate the facility for an additional 20- 1935, as Amended (‘‘Act’’)
Twelfth Floor Board Room, 1100 New
year period beyond the period specified
York Avenue, NW., Washington, DC. March 30, 2005.
in the current operating license. The
Status: Hearing OPEN to the public at
current operating license for the Notice is hereby given that the
2 p.m.
Monticello Nuclear Generating Plant Purpose: Public Hearing in following filing(s) has/have been made
(DPR–22) expires on September 8, 2010. conjunction with each meeting of with the Commission pursuant to
The Monticello Nuclear Generating OPIC’s Board of Directors, to afford an provisions of the Act and rules
Plant is a Boiling Water Reactor opportunity for any person to present promulgated under the Act. All
designed by General Electric. The unit views regarding the activities of the interested persons are referred to the
is located near Monticello, MN. The Corporation. application(s) and/or declaration(s) for
acceptability of the tendered application complete statements of the proposed
for docketing, and other matters Procedures transaction(s) summarized below. The
including an opportunity to request a Individuals wishing to address the application(s) and/or declaration(s) and
hearing, will be the subject of hearing orally must provide advance any amendment(s) is/are available for
subsequent Federal Register notices. notice to OPIC’s Corporate Secretary no public inspection through the
Copies of the application are available later than 5 p.m., Tuesday, April 19, Commission’s Branch of Public
for public inspection at the 2005. The notice must include the Reference.
Commission’s Public Document Room individual’s name, title, organization, Interested persons wishing to
(PDR), located at One White Flint North, address, and telephone number, and a comment or request a hearing on the
11555 Rockville Pike (first floor), concise summary of the subject matter application(s) and/or declaration(s)
Rockville, Maryland, 20582 or to be presented. should submit their views in writing by
electronically from the NRC’s Oral presentations may not exceed ten April 25, 2005, to the Secretary,
Agencywide Documents Access and (10) minutes. The time for individual Securities and Exchange Commission,
Management System (ADAMS) Public presentations may be reduced Washington, DC 20549–0609, and serve
Electronic Reading Room under proportionately, if necessary, to afford a copy on the relevant applicant(s) and/
accession number ML050880237. The all participants who have submitted a or declarant(s) at the address(es)
ADAMS Public Electronic Reading timely request to participate an specified below. Proof of service (by
Room is accessible from the NRC Web opportunity to be heard. affidavit or, in the case of an attorney at
site at http://www.nrc.gov/reading-rm/ Participants wishing to submit a law, by certificate) should be filed with
adams.html. In addition, the application written statement for the record must the request. Any request for hearing
is available at http://www.nrc.gov/ submit a copy of such statement to should identify specifically the issues of
reactors/operating/licensing/renewal/ OPIC’s Corporate Secretary no later than facts or law that are disputed. A person
applications.html, on the NRC Web 5 p.m., Tuesday, April 19, 2005. Such who so requests will be notified of any
page, while the application is under statements must be typewritten, double- hearing, if ordered, and will receive a
review. Persons who do not have access spaced, and may not exceed twenty-five copy of any notice or order issued in the
to ADAMS or who encounter problems (25) pages. matter. After April 25, 2005, the
in accessing the documents located in Upon receipt of the required notice, application(s) and/or declaration(s), as
ADAMS should contact the NRC’s PDR OPIC will prepare an agenda for the filed or as amended, may be granted
Reference staff at 1–800–397–4209, hearing identifying speakers, setting and/or permitted to become effective.

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Federal Register / Vol. 70, No. 65 / Wednesday, April 6, 2005 / Notices 17483

Notice of Proposal To Amend Restated In order to finance a portion of the Specifically, under the Restated
Certificate of Incorporation; Order acquisition cost, PNM Resources will Articles, as proposed to be amended, the
Authorizing the Solicitation of Proxies issue and sell 4,000,000 units of its Preferred Shares, voting as a single class
6.625% Hybrid Income Term Security with PNM Resources’ common stock,
PNM Resources, Inc. (‘‘PNM Units (the ‘‘Units’’) to Cascade
Resources’’), Alvarado Square, will be entitled to the number of votes
Investment, L.L.C. (‘‘Cascade’’), a to which the shares of common stock
Albuquerque, NM 87158, a registered limited liability company formed under
holding company, has filed an into which the Preferred Shares are
the laws of the State of Washington, in convertible are entitled to vote on all
application-declaration (‘‘Application’’) consideration for $100,000,000. Each
under sections 6(a), 7, 8, 9(a), 10, 11, matters required to be submitted to a
Unit will have a stated amount of
and 12(e) of the Act and rules 51, 54 and vote of common stockholders, other
$25.00. The proceeds of the sale of the
62–65 under the Act. than the right to vote in the election of
Units will be used by PNM Resources to
PNM Resources became an exempt finance a portion of the cash directors, provided that such voting
public utility holding company on consideration paid in the Transaction rights are exercisable by the holders of
December 31, 2001, and conducts its and for refinancing the debt and Preferred Shares only if approved and
operations consistent with the order of preferred securities of TNP Enterprises. permitted by the Commission.
the New Mexico Public Regulation The Units will be sold pursuant to the The proposed amendment to PNM
Commission which authorized the terms of a Unit Purchase Agreement, Resources’ Restated Articles to confer
holding company structure. Except for dated August 13, 2004, between PNM the additional (i.e., non-statutory) voting
certain corporate support services Resources and Cascade (the ‘‘UPA’’). rights on the Preferred Shares requires
provided to its subsidiaries at cost Each Unit consists of two components, the approval of the common
pursuant to that order, PNM Resources (i) a forward purchase contract which stockholders of PNM Resources.1 PNM
conducts no business operations other obligates the holder (Cascade or an Resources intends to seek such approval
than as a holding company. PNMR affiliate of Cascade) to purchase and at its annual meeting to be held on May
Services Company (‘‘Services’’) is a PNM Resources to sell, no later than 17, 2005. Accordingly, PNM Resources
subsidiary service company, which February 16, May 16, August 16 or
requests that its proposal to solicit
provides services at cost to the November 16 first following the third
anniversary of the issuance of the Units, proxies for shareholder approval of the
subsidiaries of PNM Resources. PNM
a specified number of shares of PNM proposed amendment be permitted to
Resources filed a notice of registration
under the Act on December 30, 2004, Resources common stock (‘‘Common become effective immediately under
and transferred its service functions to Shares’’) (subject to anti-dilution rule 62(d).
Services on January 1, 2005. adjustments), and (ii) a 1⁄40, or 2.5%, It appears to the Commission that
PNM Resources’ only public utility ownership interest in one of PNM PNM Resources’ Application regarding
company subsidiary is Public Service Resources’ senior notes (‘‘Senior Notes’’) the proposed solicitation of proxies
Company of New Mexico (‘‘PNM’’), a (A) with a principal amount of $1,000, should be permitted to become effective
New Mexico corporation. PNM is an (B) with an initial maturity date of immediately under rule 62(d).
electric and gas public utility company. February 16, May 16, August 16, or
November 16 next preceding the fifth It is ordered, under rule 62 under the
It is engaged in the generation, Act, that the portion of the Application
transmission, and distribution of anniversary date of the initial issuance
of the Units, and (C) bearing interest at regarding the proposed solicitation of
electric energy at retail in the State of proxies from PNM Resources’
New Mexico and makes sales for resale a rate per annum (not to exceed 6.625%)
to be set at the market at or near the date shareholders become effective
(‘‘wholesale’’ sales) of electricity in immediately, subject to the terms and
interstate commerce. PNM is also of issuance.
Under the UPA, Cascade (or any conditions contained in rule 24 under
engaged in the distribution of natural
Cascade affiliate holder of the Units) the Act.
gas in the State of New Mexico, which
shall have the right to purchase PNM For the Commission, by the Division of
includes some off-system wholesale
Resources’ Convertible Preferred Stock, Investment Management, pursuant to
sales of natural gas.
Series A (the ‘‘Preferred Shares’’) in lieu delegated authority.
PNM Resources proposes to acquire of Common Shares. Each Preferred
all of the outstanding voting securities Margaret H. McFarland,
Share is convertible at any time, at the
of TNP Enterprises, Inc. (‘‘TNP option of the holder, into ten Common Deputy Secretary.
Enterprises’’), a public utility holding Shares, subject to adjustment for stock [FR Doc. E5–1552 Filed 4–5–05; 8:45 am]
company claiming exemption by rule 2 splits, combinations, reclassifications, BILLING CODE 8010–01–P
under the Act (the acquisition is mergers, consolidations, sales of assets
referred to hereafter as the and other transactions. In accordance
‘‘Transaction’’). TNP Enterprises has with the Cascade Order, Cascade
subsidiary electric utility operations in intends to exercise its right to purchase
Texas and New Mexico conducted by Preferred Shares in lieu of Common
Texas-New Mexico Power Company Shares in order to maintain its
(‘‘TNMP’’), its public utility subsidiary. ownership of PNM Resources’
In connection with the Transaction, outstanding voting securities at less
PNM Resources is requesting than 10%.
authorization to amend its Restated Also under the UPA, PNM Resources
Articles of Incorporation (‘‘Restated is obligated to seek shareholder
Articles’’) and to solicit proxies from its approval for an amendment to the
shareholders to approve such Restated Articles that would confer 1 PNM Resources’ obligation to issue, and
amendment at its annual meeting of upon holders of the Preferred Shares Cascade’s obligation to purchase, the Units are not
shareholders to be held on May 17, certain voting rights in addition to those dependent on shareholder approval of the
2005. voting rights conferred by law. amendment.

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