ML20148C016
| ML20148C016 | |
| Person / Time | |
|---|---|
| Site: | Beaver Valley, Davis Besse, Perry, 05000000 |
| Issue date: | 03/17/1988 |
| From: | Moran T CLEVELAND ELECTRIC ILLUMINATING CO. |
| To: | Dinitz I NRC |
| References | |
| NUDOCS 8803220240 | |
| Download: ML20148C016 (3) | |
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d' THE CLEVELAND ELECTRIC ILLUMIN ATING COMPANY P.O. BO X 5000 - CLEVELAND, OHIO 44101 - TELEPHONE (216) 622-9800 ILLUMINATING BLOG. - 55 PUBLICSQUARE Serving The Best Location in the Nation T:.rrence R. MOran TREASURER March 17, 1988 Mr. Ira Dinitz Policy Development & Financial Evaluation Section Nuclear Regulatory Commission One White Flint North 11555 Rockville Pike Rockville, Maryland 20852 Re:
Docket Nos. 50-346, 50-440, 50-412 Retrospective Premium Guarantee
Dear Mr. Dinitz:
The Cleveland Electric Illuminating Company hereby provides the documents described below and enclosed herewith as evidence of its guarantee of its shares of the retrospective premiums which may be levied against the Davis-Besse Unit No. 1 ($5,138,000), Perry Unit No. 1 ($3,111,000) and Beaver Valley Unit No. 2 ($2,447,000) reactor licenses.
1.
A Certificate of the Company, signed by Terrence R.
- Moran, Treasurer, stating that the Company will guarantee payment of deferred premiums by reserving a portion of a Line of Credit with AmeriTrust Bank.
2.
Acknowledgment by AmeriTrust that the bank is reserving a portion of the Company's tint of Cr: edit for this purpose.
Sincerely, i
Terrence R. Moran Treasurer TRM:rmo Enclosures t
8803220240 G90317 PDR ADOCK 0500 6
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,ga CERTIFICATE OF THE COMPANY LTHE CLEVEIAND ELECTRIC ILLUMINATING COMPANY
. GUARANTEE OF PAYMENT OF DEFERRED PREMIUMS The. Cleveland Electric Illuminating Company certifies that it elects to guarantee its. share of' payment of deferred premiums which may be - levied against Davis-Besse Unit No.~ 1, Perry Unit No.
1, and Beaver Valley Unit No. 2, by reserving $10,696,000 of its' presently unused $30,000,000 Line of Credit with AmeriTrust Bank.
The deferred premiums and the Company's ownership share of each unit is as follows:
Company Ownership Unit Deferred Premiums Share Davis-Besse No. 1
$ 5,138,000 51.38%
Perry No. 1 3,111,000 31.11%
Beaver Valley No. 2 2,447,000 24.47%
$ 10,696,000 THE CLEVELAND ELECTRIC ILLUMINATING COM?ANY By:
Terrence R. }!oran, Treasurer a
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AmeriTrust Company National Association s
900 Euclid Avenue P.O. Box 5937 Cleveland, Ohio 44101 (216)687 5000
/Inerikust 11 arch 17, 1988 lir. Terrence R. lloran Treasurer The Cleveland Elcetric Illuminating Co.
55 Public Square Cleveland, 011 44113
Dear Terry:
I am pleased to inform you that we have established a sublimit of
$10,696,000 under an aircady established line of credit of $30,000,000 to The Cleveland Elcetric Illuminating Company.
The purpose of the sublinit is for potential assessments, known as Retrospective Premium Assessments, that might be levied against CEI under the !!uclear Regulatory Cornission regulations Section 140.211.
The availability of the line as we have already inforneo you shall expire on 1ky 1,
- 1988, however upon receipt of your year end financial statements we will be happy to consider a renewal of this facility.
You should be cware that this is nor a commitment on the part of
/neriTrur.t to grant any loans to you under this facility.
I hope this is satisfactory to you Torn.
ej,prds,
Best
^
S f(f \\iV u VA L Will! m J. Edwards Vice resident ks 1