SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
Date of Report January 30, 2004
----------------------------
(Date of earliest event reported)
Commission File No. 33-95538
-----------------------
SALTON SEA FUNDING CORPORATION
------------------------------
(Exact name of registrant as specified in its charter)
47-0790493
----------
(IRS Employer
Identification No.)
(State or other
jurisdiction of
(Exact name of Registrants incorporation or (I.R.S. Employer
as specified in their charters) organization) Identification No.)
- ------------------------------- --------------------- -------------------
Salton Sea Brine Processing L.P. California 33-0601721
Salton Sea Power Generation L.P. California 33-0567411
Fish Lake Power LLC Delaware 33-0453364
Vulcan Power Company Nevada 95-3992087
CalEnergy Operating Corporation Delaware 33-0268085
Salton Sea Royalty LLC Delaware 47-0790492
VPC Geothermal LLC Delaware 91-1244270
San Felipe Energy Company California 33-0315787
Conejo Energy Company California 33-0268500
Niguel Energy Company California 33-0268502
Vulcan/BN Geothermal Power Company Nevada 33-3992087
Leathers, L.P. California 33-0305342
Del Ranch, L.P. California 33-0278290
Elmore, L.P. California 33-0278294
Salton Sea Power LLC Delaware 47-0810713
CalEnergy Minerals LLC Delaware 47-0810718
CE Turbo LLC Delaware 47-0812159
CE Salton Sea Inc. Delaware 47-0810711
Salton Sea Minerals Corp. Delaware 47-0811261
302 S. 36th Street, Suite 400-A, Omaha, NE 68131
- --------------------------------------------------------------------------------
(Address of principal executive offices and
Zip Code of Salton Sea Funding Corporation)
Salton Sea Funding Corporation's Telephone Number,
including area code: (402) 341-4500
-------------------
N/A
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
Item 5. Other Events.
Salton Sea Funding Corporation ("Funding Corporation") reported today
that it has notified the holders of its 7.475% Senior Secured Series F Bonds due
November 30, 2018 of the redemption of an aggregate principal amount of
$136,383,000 of such Bonds, pro rata, in part, at a redemption price of 100% of
such aggregate outstanding principal amount, plus accrued interest to the
redemption date of March 1, 2004. The redemption is made pursuant to Section
2(j) of Funding Corporation's Fourth Supplemental Indenture at the option of
Funding Corporation as substantial completion of the Zinc Recovery Project owned
by CalEnergy Minerals LLC ("CalEnergy Minerals") has not occurred and CalEnergy
Minerals has used reasonable efforts to cause such Zinc Recovery Project to
achieve substantial completion on or prior to its guaranteed substantial
completion date. Funding Corporation expects to make a demand on MidAmerican
Energy Holdings Company ("MidAmerican") for the amount remaining on
MidAmerican's guarantee of the Series F Bonds in order to fund the redemption.
Upon such expected demand and payment under MidAmerican's guarantee, MidAmerican
will have no further payment obligation thereunder. A copy of the press
release announcing the redemption of the Bonds is included as Exhibit 99.1 to
this report.
FORWARD LOOKING STATEMENTS
Certain information included in this report contains forward-looking
statements made pursuant to the Private Securities Litigation Reform Act of 1995
("Reform Act"). Such statements are based on current expectations and involve a
number of known and unknown risks and uncertainties that could cause the actual
results and performance of the Registrants to differ materially from any
expected future results or performance, expressed or implied, by the
forward-looking statements including expectations regarding the future results
of operations of Registrants. In connection with the safe harbor provisions of
the Reform Act, the Registrants have identified important factors that could
cause actual results to differ materially from such expectations, including
development and construction uncertainty, operating uncertainty, acquisition
uncertainty, uncertainties relating to geothermal resources, uncertainties
relating to economic and political conditions and uncertainties regarding the
impact of regulations, changes in government policy, industry deregulation and
competition. Reference is made to all of the Registrants' SEC Filings,
incorporated herein by reference, for a description of such factors. The
Registrants assume no responsibility to update forward-looking information
contained herein.
Item 7. Financial Statements and Exhibits
Exhibit 99.1 - Salton Sea Funding Corporation Press Release dated
January 30, 2004
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934 the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
SALTON SEA FUNDING CORPORATION
Date: January 30, 2004 By: /s/ Paul J. Leighton
----------------------------
Paul J. Leighton
Secretary
EXHIBITS INDEX
Exhibit
Number Exhibit
99.1 Salton Sea Funding Corporation Press Release dated January 30,
2004