ML20236D982
| ML20236D982 | |
| Person / Time | |
|---|---|
| Site: | Beaver Valley, Davis Besse, Perry, 05000000 |
| Issue date: | 03/15/1989 |
| From: | Moran T CLEVELAND ELECTRIC ILLUMINATING CO. |
| To: | Dinitz I NRC |
| References | |
| NUDOCS 8903230393 | |
| Download: ML20236D982 (2) | |
Text
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THE CLEVELAND ELECTRIC ILLUMIN ATING COMP ANY CLEVELAND, OHIO 44101 - TELEPHONE (216) 622-9800 -
l ILLUMINATING BLOG. - 55 PUBLIC SOUARE P.O BOX 5000 Serving The Best Location in the Nation Terrence R. Moran March 15, 1989 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 Line of Crodit for this purpose.
Sincerely, CL%
Terrence R. Moran Treasurer TRM:slf Enclosures p
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4 Ameritrust Ameritrust Company N.A.
900 fuchd Ave nue P.O. Boi 5937 cleverand,ot 441010917 March 13, 1989 Mr. Robert A. Slivinski l
Assistant Treasurer l
The Cleveland Electric Illuminating Company P. O. Box 5000 Cleveland, OH 44101
Dear Bob:
1 This letter is to reconfirm the existence of a $30 million line of credit from Ameritrust Company National Association to The Cleveland Electric Illuminating Company (CEI). As part of this line, a sublimit of $10,696,000 is reserved for borrowings necessary to meet payments of deferred premiums levied by the Nuclear Regulatory Commission. Also, a sublimit of $5,000,000 is available to Centerior Service Company for general use.
j This facility is available subject to periodic review by Ameritrust and providing that there have been no material adverse changes in the financial condition of your fine company. Pricing under these facilities will be determined by the officers of the bank. As you know, the line of credit is scheduled to expire on May 1, 1989.
I i
look forward to receipt of CEI's 1988 audit report so that we can i
initiate the formal line of credit renewal process for the coming j
year.
l We are proud of our association with The Cleveland Electric Illuminating Company and appreciate the opportunity to be of assistance to you.
Sin
- ely, Charles W. Bray, IV Assistant Vice President ks 6241n x
N I
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2
a CERTIFICATE OF THE COMPANY l
THE CLEVELAND 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 maf 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. 1 2,447,000 24.47%
$10,696,000 THE CLEVELAND ELECTRIC ILLUMINATING COMPANY By:
h_
M%
Terrence R. M6rhn, Treasurer