ML18057A402

Forwards Missing Pages from Decommissioning Funding Rept, Consisting of Pages 25 & 26 of Attachment a to Exhibit E

ML18057A402
Person / Time
Site:	Palisades
Issue date:	08/22/1990
From:	Eddy J CONSUMERS ENERGY CO. (FORMERLY CONSUMERS POWER CO.)
To:	NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
References
NUDOCS 9008290198
Download: ML18057A402 (4)

Text

consumers Power POWERINli NllCHlliAN'S PRDliRESS General Offices: 1945 West Parnell Road, Jackson,' Ml 49201 * (517) 788-0550 August 22, 1990 Nuclear Regulatory Commission Document Control Desk Washington, DC 20555 DOCKET 50-255 - LICENSE DPR PALISADES PLANT -

DECOMMISSIONING FUNDING REPORT PAGE OMISSION By letter dated July 26, 1990, Consumers Power Company submitted the Palisades Plant Decommissioning Funding Report in accordance with 10CFR50.33(k) and 50.75. During the processing of that report, two pages were inadvertently omitted from the submitted version. The missing pages are pages 25 and 26 of Attachment A to Exhibit E of the report. They are the last two pages of Attachment A which is the "Consumers Power Company 1990 Report on the Adequacy of the Existing Annual Provision for Nuclear Plant Decommissioning" *. This letter transmits the missing pages. Please contact us i f there *are any questions. This subject has been discussed with the Palisades Plant Project Manager.

J Daniel Eddy Plant Licensing Engineer CC Administrator, Region III, USNRC NRC Resident Inspector - Palisades Attachment

(

I 9008290198- 900821 I PDR AD08K 05000255 r Poe: w

~oo\

OC0890-0395A-NL02 A CMS' ENERGY COMPANY ~

ATTACHMENT Consumers Power Company Palisades Plant Docket 50-255 DECOMMISSIONING FUNDING REPORT MISSING PAGES August 22, 1990 2 Pages OC0890-0395A-NL02

25

8. ADMINISTRATIVE AND INCIDENTAL EXPENSES Of THE FUNDS Each of the Trust Agreements, dated as of January 1, 1987, between Consumers Power Company and National Bank of Detroit states as follows in Article 6:

"All taxes of any kind that may be assessed or levied against or in respect of each Trust, including income taxes borne by the Company, if any, associated with income and transactions of each Trust, and all brokerage corrmissions incurred by each Trust shall be paid from the Assets of such Trust. All other reasonable expenses of administration, such as (but not limited to) the expenses incurred by the Trustee in connection with the administration of the Trusts, including fees and expenses of agents or

- attorneys employed by the Trustee (whether or not arising out of a judicial or administrative proceeding and whether or not incurred while it is acting as Trustee), such compensation to the Trustee as may be agreed upon from time to time between the Trustee and the Company on a basis no less favorable to the Company than that which the Trustee generally affords to like customers for like services, and all other proper charges and disbursements of the Trustee, shall be paid from the Assets.*

Table 8.1 shows the annual trustee fees that have been incurred and taxes paid by each trust since January 1, 1987, the date the trusts were first established.

The trust funds are currently invested in Municipal Bonds and the interest income is not subject to federal Income Tax. However, the out-of-state interest income of the trust funds is subject to the Michigan Single Busine1s Tax. Also, any .

gains or losses on the sale of municipal bonds are subject to both Federal Income Tax and the Michigan Single Business Tax.

• 26 Table 8.1. Annual trustee fees and taxes incurred by each trust.

Trustee Taxes Fees Paid Big Rock Section 468A Trust 1987 565.49 1988 3,245.62 1989 6,347.06 1,665.00 Big Rock Non-Section 468A Trust 1987 724.00 1988 6,293.80 1989 9,167.56 Palisades Section 468A Trust 1987 912.49 1988 6,462.58 1989. 12,248.78 4,382.00 Palisades Non-Section 468A Trust 1987 1,510.72 1988 8,106.76 1989 10,157.83