Divedepot.com, Inc., GS Telecom Ltd., Rocky Mountain Financial Enterprises, Inc., US Data Authority, Inc.; Order of Suspension of Trading, 46226 [05-15791]
Download as PDF
<![CDATA[
46226
Federal Register / Vol. 70, No. 152 / Tuesday, August 9, 2005 / Notices
Price’’). To raise the money for the Sale
Price, the Authority will issue and sell
its revenue bonds (‘‘Revenue Bonds’’) to
Georgia Power and Savannah Electric
(or their assignees), pro rata in
accordance with Georgia Power and
Savannah Electric’s respective
ownership interests (‘‘Leased
Interests’’), in the aggregate amount of
the Sale Price.1 Applicants state that
since the Sale Price equals the cost of
the Revenue Bonds, no money will be
exchanged among Georgia Power,
Savannah Electric and the Authority.
(b) Simultaneously with the sale of
the Project to the Authority, Georgia
Power and Savannah Electric will lease,
pro rata in accordance with their Leased
Interests, the Project back from the
Authority for a term of approximately
20 years (the estimated useful life of the
Project) under a lease agreement
(‘‘Agreement’’). The Agreement provides
for lease payments to be made by
Georgia Power and Savannah Electric,
pro rata in accordance with the Leased
Interests, at times and in amounts which
correspond to the payments with
respect to the principal of and interest
on the Revenue Bonds whenever and in
whatever manner the Revenue Bonds
shall become due, whether at stated
maturity, upon redemption or
declaration or otherwise.
(c) The Agreement provides for lease
payments to be deposited with a trustee
(‘‘Trustee’’) under an indenture between
the Authority and the Trustee (‘‘Trust
Indenture’’) under which the Revenue
Bonds will be issued and secured.
Applicants state that since Georgia
Power and Savannah Electric will make
lease payments in the same amounts
and at the same times that the Trustee
will pay interest and principal on the
Revenue Bonds to Georgia Power and
Savannah Electric, no lease payments or
Revenue Bond payments actually will
be paid by or to Georgia Power and
Savannah Electric. The Trust Indenture
will provide for the specific terms of the
Revenue Bonds, including a final
maturity of January 1, 2025 and an
interest rate of 5.00%. The Trust
Indenture will also specify the term and
details of the Revenue Bonds and will
contain various provisions, covenants
and agreements to protect the security of
the bondholders, including the
following: (a) Pledging and assigning the
1 In
December 2003, the Authority issued
$350,000,000 in Revenue Bonds. In December 2004,
the Authority issued $160,000,000 in Revenue
Bonds. After the Commission’s approval, the
Authority will issue up to $65,000,000 in Revenue
Bonds. The aggregate amount of the Revenue Bonds
previously issued and the Revenue Bonds
contemplated hereby will not exceed $575,000,000
and will equal the approximate total cost of the
Project.
VerDate jul<14>2003
15:52 Aug 08, 2005
Jkt 205001
rents, revenues and receipts of the
Authority derived from the Project to
secure the payment of the Revenue
Bonds; (b) describing the redemption
provisions and other features of the
Revenue Bonds; (c) setting forth the
form of the Revenue Bonds; (d)
establishing the various funds and
accounts to handle the Revenue Bonds
proceeds and revenues of the Project
and setting forth covenants regarding
the administration and investment of
these funds and accounts by the
Trustee; (e) setting forth the duties of
the Trustee; (f) defining events of
default and provisions for enforcing the
rights and remedies of the bondholders
in those events and (g) restricting the
issuance of additional bonds and the
terms upon which the same may be
issued and secured. The Agreement
obligates Georgia Power and Savannah
Electric to pay, pro rata in accordance
with the Leased Interests, the fees and
charges of the Trustee.
(d) The Agreement permits Georgia
Power and Savannah Electric (or their
assignees), pro rata in accordance with
their Leased Interests, to buy the Project
back from the Authority for a nominal
purchase price at the expiration (or
earlier termination) of the Agreement.
(e) Accordingly, Georgia Power and
Savannah Electric are treated as the
owners of the Project for financial
accounting purposes and federal income
tax purposes, and Georgia Power and
Savannah Electric are in fact the
beneficial owners of, with full control
over, the Project. Applicants state that
the Tax Abatement Agreement obligates
Georgia Power and Savannah Electric,
pro rata in accordance with their Leased
Interests, to make level property tax
payments on the lease payments, plus a
fee to the County and the Authority.
For the Commission by the Division of
Investment Management, pursuant to
delegated authority.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. E5–4304 Filed 8–8–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
concerning the securities of
Divedepot.com, Inc., because it is
delinquent in its periodic filing
obligations under section 13(a) of the
Securities Exchange Act of 1934, having
not filed a periodic report since the
period ending September 30, 2000.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of GS Telecom
Ltd., because it is delinquent in its
periodic filing obligations under section
13(a) of the Securities Exchange Act of
1934, having not filed a periodic report
since the period ending March 31, 2001.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Rocky
Mountain Financial Enterprises, Inc.,
because it is delinquent in its periodic
filing obligations under section 13(a) of
the Securities Exchange Act of 1934,
having not filed a periodic report since
the period ending September 30, 2001.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of US Data
Authority, Inc., because it is delinquent
in its periodic filing obligations under
section 13(a) of the Securities Exchange
Act of 1934, having not filed a periodic
report since the period ending March
31, 2003.
The Commission is of the opinion that
the public interest and the protection of
investors require a suspension of trading
in the securities of the above-listed
companies.
Therefore, it is ordered, pursuant to
section 12(k) of the Securities Exchange
Act of 1934, that trading in the abovelisted companies is suspended for the
period from 9:30 a.m. e.d.t. on August
5, 2005, through 11:59 p.m. e.d.t. on
August 18, 2005.
By the Commission.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. 05–15791 Filed 8–5–05; 11:30 am]
BILLING CODE 8010–01–P
[File No. 500–1]
Divedepot.com, Inc., GS Telecom Ltd.,
Rocky Mountain Financial Enterprises,
Inc., US Data Authority, Inc.; Order of
Suspension of Trading
August 5, 2005.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
PO 00000
Frm 00095
Fmt 4703
Sfmt 4703
E:\FR\FM\09AUN1.SGM
09AUN1
]]>Agencies
[Federal Register Volume 70, Number 152 (Tuesday, August 9, 2005)]
[Notices]
[Page 46226]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-15791]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[File No. 500-1]
Divedepot.com, Inc., GS Telecom Ltd., Rocky Mountain Financial
Enterprises, Inc., US Data Authority, Inc.; Order of Suspension of
Trading
August 5, 2005.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Divedepot.com, Inc., because it is delinquent in its periodic filing
obligations under section 13(a) of the Securities Exchange Act of 1934,
having not filed a periodic report since the period ending September
30, 2000.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
GS Telecom Ltd., because it is delinquent in its periodic filing
obligations under section 13(a) of the Securities Exchange Act of 1934,
having not filed a periodic report since the period ending March 31,
2001.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Rocky Mountain Financial Enterprises, Inc., because it is delinquent in
its periodic filing obligations under section 13(a) of the Securities
Exchange Act of 1934, having not filed a periodic report since the
period ending September 30, 2001.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
US Data Authority, Inc., because it is delinquent in its periodic
filing obligations under section 13(a) of the Securities Exchange Act
of 1934, having not filed a periodic report since the period ending
March 31, 2003.
The Commission is of the opinion that the public interest and the
protection of investors require a suspension of trading in the
securities of the above-listed companies.
Therefore, it is ordered, pursuant to section 12(k) of the
Securities Exchange Act of 1934, that trading in the above-listed
companies is suspended for the period from 9:30 a.m. e.d.t. on August
5, 2005, through 11:59 p.m. e.d.t. on August 18, 2005.
By the Commission.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. 05-15791 Filed 8-5-05; 11:30 am]
BILLING CODE 8010-01-P
