ML20003G663
| ML20003G663 | |
| Person / Time | |
|---|---|
| Site: | Seabrook  |
| Issue date: | 04/27/1981 |
| From: | Ritsher J ROPES & GRAY |
| To: | Varga S Office of Nuclear Reactor Regulation |
| Shared Package | |
| ML20003G664 | List: |
| References | |
| NUDOCS 8104300458 | |
| Download: ML20003G663 (2) | |
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ropes & GRAY 225 FRANKLIN STREET BOSTON O2110 cAa6s acoatss"ROPGRALOR
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?CLIE www BER 94CSl9 tektccew '61M 413 784s April 27, 1981 e
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J APh 3 0,j981 ** :T Steven A. Varga, Chief Light ' dater Reactors, Branch 4
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Office of Nuclear Reactor Regulation (p
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N U.S. Nuclear Regulatory Commission Washington, D. C.
20555 Re:
Seabrook Station, Docket Nos. 50 443 and 50 444
Dear Mr. Varga:
In connection with the issuance of Amendment No. 1 to the Construction Permits Nos. CPPR-135 and CPPR-136, the NRC Staff requested that Vermont Electric Cooperative, Inc. inform the Staff with respect to any further action by the Rural Electrification Administration on a pending loan request which was intended to finance that participant's interest in the Sea-brook Station as well as certain other joint ownership interests.
Vermont Electric Cooperative, Inc. has now closed a loan with the Federal Financing Bank under the REA guaranteed loan pro-gram in a principal amount of $9.9 million.
This amount is expected to be sufficient to finance the remaining portion of the Cooperative's joint interest in Seabrook Station.
Enclosed for your file are ten copies of the commitment notice issued by REA and also ten copies of the order issued by the Vermont Public Service Board approving this borrowing.
We should point out that the actual borrowing is reduced from the $18 million loan request discussed in the Safety Evaluation supplementing Amendment No. 1.
This reduction is due to the fact that the original request was intended to finance the acquisition of interests in two other projects which have i
since been cancelled.
Very truly yours, s
John
. Ritsher JAR:vml Enclosures cc:
y1111am B. Piper, Esq.
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FEDFNL FIF12CIM Mit M im RURAL ELECFRIFICATIC4 ADMINISTPATIGJ GUNU2?IEE Dated:
hEB 41331 Verzent Electric Cooperative, Inc.
Johnson, Verncnt 05656 Pursuant to paragraph 2 of the Iran Ccnnitrent Agree: tent (copy of 5;hich is attached), dated as of August 14, 1974, as amended, between the Federal Financing Bank (FFB) and the lainistrator of the Rural Electrificatica Ad:ninistration (REA), this is notice of the ccmnit: ent of ETB and REA for a loan by FFB to Venient Electric Cooperative, Inc., in the amount of
$9,900,000 for RFA project Verrent 7BC8 Orleans and for a guarantee thereof by PEA conditional upon:
1.
'Ihe execution by you of a note in the fonn attached.(Note) and delivery thereof, within 45 calendar days fmn the date of this Notice to REA, as agent for FFB; and 2.
Tne execution by PIA of a guarantee of the Note (Guarantee) in the form attached.
Within 10 days after receipt of the executed Note and a satisfactory estirrated schedule of advances, REA will execute the Guarantce, and as prcvided,'in paracraph 3 of the Loan Critment Agrement, will certify to E3 receipt of the executed Mete and execution of the Guarantee.
Except to the extent PSA deternines than to be inapplicable to the ETB loan, all provisions of your loan contract with, and nortgage to, REA and the National Rural Utilities Ccoperative Finance Corporation and of the letter transmitting this Ccrxtitment Notice, including all conditions prercquisite to the advance of funds loaned by REA thercu W.r, shall, in addition to the provisions of the Ioan Ccanitnent Agrecreent and the Note, be applicable to the PIA guarantce of the Note.
,,0E S. " LER Ac t.in31.C:Inistr31;-
Enclosures
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