EXHIBIT 25.01 | |||
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = | |||
FORM T-1 | |||
SECURITIES AND EXCHANGE COMMISSION | |||
STATEMENT OF ELIGIBILITY | |||
CHECK IF AN APPLICATION TO DETERMINE | |||
___________________________ | |||
THE BANK OF NEW YORK | |||
New York | 13-5160382 | ||
One Wall Street, New York, N.Y. | 10286 | ||
___________________________ | |||
ATLANTIC CITY ELECTRIC COMPANY | |||
New Jersey | 21-0398280 | ||
800 King Street |
| ||
___________________________ | |||
Senior Notes | |||
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = | |||
1. | General information. Furnish the following information as to the Trustee: | ||
| (a) | Name and address of each examining or supervising authority to which it is subject. |
Name | Address |
Superintendent of Banks of the State of | 2 Rector Street, New York, N.Y. 10006, and Albany, N.Y. 12203 |
Federal Reserve Bank of New York | 33 Liberty Plaza, New York, N.Y. 10045 |
Federal Deposit Insurance Corporation | Washington, D.C. 20429 |
New York Clearing House Association | New York, New York 10005 |
| (b) | Whether it is authorized to exercise corporate trust powers. | |
Yes. | |||
2. | Affiliations with Obligor. | ||
If the obligor is an affiliate of the trustee, describe eachsuch affiliation. | |||
None. | |||
16. | List of Exhibits. | ||
Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a-29 under the Trust Indenture Act of 1939 (the "Act") and 17 C.F.R. 229.10(d). | |||
1. | A copy of the Organization Certificate of The Bank of New York (formerly Irving Trust Company) as now in effect, which contains the authority to commence business and a grant of powers to exercise corporate trust powers. (Exhibit 1 to Amendment No. 1 to Form T-1 filed with Registration Statement No. 33-6215, Exhibits 1a and 1b to Form T-1 filed with Registration Statement No. 33-21672 and Exhibit 1 to Form T-1 filed with Registration Statement No. 33-29637.) | ||
4. | A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form T-1 filed with Registration Statement No. 33-31019.) | ||
6. | The consent of the Trustee required by Section 321(b) of the Act. (Exhibit 6 to Form T-1 filed with Registration Statement No. 33-44051.) | ||
- 2 - | |||
7. | A copy of the latest report of condition of the Trustee published pursuant to law or to the requirements of its supervising or examining authority. | ||
- 3 - | |||
SIGNATURE | |||
Pursuant to the requirements of the Act, the Trustee, The Bank of New York, a corporation organized and existing under the laws of the State of New York, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in The City of New York, and State of New York, on the 9th day of September, 2003. | |||
| THE BANK OF NEW YORK By:/S/ ROBERT A. MASSIMILLO | ||
- 4 - | |||
EXHIBIT 7 |
_____________________________________________________________________________ |
Consolidated Report of Condition of THE BANK OF NEW YORK |
of One Wall Street, New York, N.Y. 10286 a member of the Federal Reserve System, at the close of business June 30, 2003, published in accordance with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal Reserve Act. |
ASSETS | Dollar Amounts | |
Cash and balances due from depository | ||
Noninterest-bearing balances and currency and | $4,257,371 | |
Interest-bearing balances | 6,048,782 | |
Securities: | ||
Held-to-maturity securities | 373,479 | |
Available-for-sale securities | 18,918,169 | |
Federal funds sold in domestic offices | 6,689,000 | |
Securities purchased under agreements to | 5,293,789 | |
Loans and lease financing receivables: | ||
Loans and leases held for sale | 616,186 | |
Loans and leases, net of unearned | ||
LESS: Allowance for loan and | ||
Loans and leases, net of unearned | 37,522,300 | |
Trading Assets | 5,741,193 | |
Premises and fixed assets (including | 958,273 | |
Other real estate owned | 441 | |
Investments in unconsolidated subsidiaries | 257,626 | |
Customers' liability to this bank on | 159,995 | |
Intangible assets | ||
Goodwill | 2,554,921 | |
Other intangible assets | 805,938 | |
Other assets | 6,285,971 | |
Total assets | $96,483,434 | |
LIABILITIES | ||
Deposits: | ||
In domestic offices | $37,264,787 | |
Noninterest-bearing | 15,357,289 | |
Interest-bearing | 21,907,498 | |
In foreign offices, Edge and Agreement | 28,018,241 | |
Noninterest-bearing | 1,026,601 | |
Interest-bearing | 26,991,640 | |
Federal funds purchased in domestic | 739,736 | |
Securities sold under agreements to | 465,594 | |
Trading liabilities | 2,456,565 | |
Other borrowed money: | 8,994,708 | |
Bank's liability on acceptances executed and | 163,277 | |
Subordinated notes and debentures | 2,400,000 | |
Other liabilities | 7,446,726 | |
Total liabilities | $87,949,634 | |
Minority interest in consolidated | 519,472 | |
EQUITY CAPITAL | ||
Perpetual preferred stock and related | 0 | |
Common stock | 1,135,284 | |
Surplus | 2,056,273 | |
Retained earnings | 4,694,161 | |
Accumulated other comprehensive income | 128,610 | |
Other equity capital components | 0 | |
Total equity capital | 8,014,328 | |
Total liabilities minority interest and equity | $96,483,434 | |
I, Thomas J. Mastro, Senior Vice President and Comptroller of the above-named bank do hereby declare that this Report of Condition is true and correct to the best of my knowledge and belief. | |||
Thomas J. Mastro, | |||
We, the undersigned directors, attest to the correctness of this statement of resources and liabilities. We declare that it has been examined by us, and to the best of our knowledge and belief has been prepared in conformance with the instructions and is true and correct. | |||
| ___ | Directors | |
_____________________________________________________________________________ | |||