EXHIBIT 25.1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM T-1
-----------
STATEMENT OF ELIGIBILITY UNDER THE TRUST
INDENTURE ACT OF 1939 OF A CORPORATION
DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A
TRUSTEE PURSUANT TO SECTION 305(b)(2) ____________
-----------------
THE BANK OF NEW YORK
(Exact name of trustee as specified in its charter)
New York 13-5160382
(Jurisdiction of incorporation (I.R.S. Employer
if not a U.S. national bank) Identification No.)
One Wall Street, New York, New York 10286
(Address of principal executive offices) (Zip code)
-----------------
NEVADA POWER COMPANY
(Exact name of obligor as specified in its charter)
Nevada 88-0420104
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
6226 West Sahara Avenue
Las Vegas, Nevada 89146
(Address of principal executive offices) (Zip code)
-----------------
5 -7/8% GENERAL AND REFUNDING MORTGAGE NOTES, SERIES L, DUE 2015
(Title of the indenture securities)
ITEM 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.
Superintendent of Banks of the 2 Rector Street, New York, N.Y. 10006
State of New York and Albany, N.Y. 12203
Federal Reserve Bank of New York 33 Liberty Plaza, New York, N.Y. 10045
Federal Deposit Insurance Corporation 550 17th Street, N.W., Washington, D.C.
New York Clearing House Association 20429 New York, N.Y. 10005
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
ITEM 2. AFFILIATIONS WITH OBLIGOR.
If the obligor is an affiliate of the trustee, describe each such
affiliation.
None. (See Note on page 3.)
ITEM 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 as Exhibit 25(a) to Registration Statement No.
333-102200.)
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.)
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.
NOTE
Inasmuch as this Form T-1 is being filed prior to the ascertainment
by the Trustee of all facts on which to base a responsive answer to Item 2, the
answer to said Item is based on incomplete information.
Item 2 may, however, be considered as correct unless amended by an
amendment to this Form T-1.
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 13th day of May, 2005.
THE BANK OF NEW YORK
By: /s/ Stacey B. Poindexter
________________________________
Name: Stacey B. Poindexter
Title: Assistant Vice President
EXHIBIT 7
(Page 1 of 3)
Consolidated Report of Condition of
THE BANK OF NEW YORK
of One Wall Street, New York, N.Y. 10286
And Foreign and Domestic Subsidiaries,
a member of the Federal Reserve System, at the close of business December 31,
2004, published in accordance with a call made by the Federal Reserve Bank of
this District pursuant to the provisions of the Federal Reserve Act.
Dollar Amounts
In Thousands
ASSETS
Cash and balances due from depository institutions:
Noninterest-bearing balances and currency and
coin............ .......................................... $ 3,866,500
Interest-bearing balances................................... 8,455,170
Securities:
Held-to-maturity securities................................. 1,885,665
Available-for-sale securities............................... 20,781,508
Federal funds sold and securities purchased under
agreements to resell.......................................
Federal funds sold in domestic offices..................... 3,730,007
Securities purchased under agreements to
Resell..................................................... 847,805
Loans and lease financing receivables:
Loans and leases held for sale.............................. 0
Loans and leases, net of unearned
income..................................................... 36,195,743
LESS: Allowance for loan and
lease losses............................................... 587,611
Loans and leases, net of unearned
income and allowance....................................... 35,608,132
Trading Assets.............................................. 4,174,521
Premises and fixed assets (including capitalized
leases).................................................... 949,424
Other real estate owned..................................... 754
Investments in unconsolidated subsidiaries and
associated companies....................................... 268,366
Customers' liability to this bank on acceptances
outstanding................................................ 52,800
Intangible assets...........................................
Goodwill................................................... 2,746,404
Other intangible assets.................................... 758,137
Other assets................................................ 8,013,234
--------------
Total assets................................................ $ 92,138,427
==============
1
EXHIBIT 7
(Page 2 of 3)
LIABILITIES
Deposits:
In domestic offices.................................. $ 41,480,131
Noninterest-bearing.................................. 16,898,525
Interest-bearing..................................... 24,581,606
In foreign offices, Edge and Agreement
subsidiaries, and IBFs............................. 24,028,722
Noninterest-bearing.................................. 576,431
Interest-bearing..................................... 23,452,291
Federal funds purchased and securities sold under
agreements to repurchase...........................
Federal funds purchased in domestic
Offices............................................ 1,040,432
Securities sold under agreements to
repurchase......................................... 491,007
Trading liabilities................................... 2,724,930
Other borrowed money:
(includes mortgage indebtedness and obligations
under capitalized leases)............................ 4,780,573
Not applicable
Bank's liability on acceptances executed and
outstanding......... ................................ 54,517
Subordinated notes and debentures..................... 2,390,000
Other liabilities..................................... 6,901,014
------------
Total liabilities..................................... $ 83,891,326
============
Minority interest in consolidated subsidiaries........ 140,499
EQUITY CAPITAL
Perpetual preferred stock and related
surplus.............................................. 0
Common stock.......................................... 1,135,284
Surplus............................................... 2,087,221
Retained earnings..................................... 4,892,420
Accumulated other comprehensive income................ (8,323)
Other equity capital components....................... 0
Total equity capital.................................. 8,106,602
------------
Total liabilities, minority interest, and equity
capital.............................................. $ 92,138,427
============
2
EXHIBIT 7
(Page 3 of 3)
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,
Senior Vice President and Comptroller
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.
Thomas A. Renyi
Gerald L. Hassell Directors
Alan R. Griffith
3