SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM T-1
STATEMENT OF ELIGIBILITY AND QUALIFICATION
UNDER THE TRUST INDENTURE ACT FOR 1939, AS AMENDED,
OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
FIRST UNION NATIONAL BANK OF NORTH CAROLINA
(Exact name of Trustee as specified in its charter)
230 SOUTH TRYON STREET, 8TH FLOOR
CHARLOTTE, NORTH CAROLINA 28288-1179 56-0900030
(Address of principal executive (Zip Code) (I.R.S. Employer Identification No.)
office)
Public Service Company of North Carolina, Incorporated
(Exact name of obligor as specified in its charter)
North Carolina 56-0233140
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
400 Cox Road
Post Office Box 1398
Gastonia, North Carolina 28053-1398
(Address of principal executive offices) (Zip Code)
SENIOR UNSECURED DEBT
(Title of the indenture securities)
1. General information.
(a) The following are the names and addresses of each
examining or supervising authority to which the
Trustee is subject:
The Comptroller of the Currency, Washington, D.C.
Federal Reserve Bank of Richmond, Virginia. Federal
Deposit Insurance Corporation, Washington, D.C.
Securities and Exchange Commission, Division of Market
Regulation, Washington, D.C.
(b) The Trustee is authorized to exercise corporate trust
powers.
2. Affiliations with obligor.
The obligor is not an affiliate of the Trustee.
(See Note 2 on Page 5)
3. Voting Securities of the Trustee.
The following information is furnished as to each
class of voting securities of the Trustee:
As of September 30, 1995
Column A Column B
Title of Class Amount Outstanding
Common Stock, par value $3.33-1/3 a share 167,795,141 shares
4. Trusteeships under other indentures.
The Trustee is not a trustee under another
indenture under which any other securities, or
certificates of interest or participation in any other
securities, of the obligor are outstanding.
5. Interlocking directorates and similar relationships with the
obligor or underwriters.
Neither the Trustee nor any of the directors or
executive officers of the Trustee is a director, officer,
partner, employee, appointee or representative of the
obligor or of any underwriter for the obligor.
(See Note 2 on Page 5)
6. Voting securities of the Trustee owned by the obligor or its
officials.
Voting securities of the Trustee owned by the obligor
and its directors, partners, executive officers, taken as a
group, do not exceed one percent of the outstanding voting
securities of the Trustee.
(See Notes 1 and 2 on Page 5)
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7. Voting securities of the Trustee owned by underwriters or their
officials.
Voting securities of the Trustee owned by any
underwriter and its directors, partners, and executive
officers, taken as a group, do not exceed one percent of the
outstanding voting securities of the Trustee.
(See Note 2 on Page 5)
8. Securities of the obligor owned or held by the Trustee.
The amount of securities of the obligor which the
Trustee owns beneficially or holds as collateral security for
obligation in default does not exceed one percent of the
outstanding securities of the obligor.
(See Note 2 on Page 5)
9. Securities of underwriters owned or held by the Trustee.
The Trustee does not own beneficially or hold as
collateral security for obligations in default any securities
of an underwriter for the obligor.
(See Note 2 on Page 5)
10. Ownership or holdings by the Trustee of voting securities of
certain affiliates or security holders of the obligor.
The Trustee does not own beneficially or hold as
collateral security for obligations in default voting
securities of a person, who, to the knowledge of the Trustee
(1) owns 10% or more of the voting securities of the obligor
or (2) is an affiliate, other than a subsidiary, of the
obligor.
(See Note 2 on Page 5)
11. Ownership of holders by the Trustee of any securities of a
person owning 50 percent or more of the voting securities of
the obligor.
The Trustee does not own beneficially or hold as
collateral security for obligations in default any securities
of a person who, to the knowledge of Trustee, owns 50
percent or more of the voting securities of the obligor.
(See Note 2 on Page 5)
12. Indebtedness of the obligor to the Trustee.
The obligor is not indebted to the Trustee.
13. Defaults by the obligor.
Not applicable.
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14. Affiliations with the underwriters.
No underwriter is an affiliate of the Trustee.
15. Foreign trustee.
Not applicable.
16. List of Exhibits.
(1) Articles of Association of the Trustee as now in
effect. Incorporated to Exhibit (1) filed with Form
T-1 Statement included in Registration Statement No.
33-45946.
(2) Certificate of Authority of the Trustee to commence
business. Incorporated by reference to Exhibit (2)
filed with Form T-1 Statement included in Registration
Statement No. 33-45946.
(3) Authorization of the Trustee to exercise
corporate trust powers, if such authorization is
not contained in the documents specified in
exhibits (1) and (2) above.
(4) By-Laws of the Trustee. Incorporated by reference to
Exhibit (4) filed with Form T-1 Statement included in
Registration Statement No. 33-45946.
(5) Inapplicable.
(6) Consent by the Trustee required by Section 321(b) of
the Trust Indenture Act of 1939. Included at Page 6
of this Form T-1 Statement.
(7) Inaplicable.
(8) Inapplicable.
(9) Inapplicable.
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NOTES
1. Since the Trustee is a member of First Union
Corporation, a bank holding company, all of the voting
securities of the Trustee are held by First Union Corporation.
The securities of First Union Corporation are described in Item
3.
2. Inasmuch as this Form T-1 is filed prior to the
ascertainment by the Trustee of all facts on which to base
responsive answers to Items 2, 5, 6, 7, 8, 9, 10 and 11, the
answers to said Items are based on incomplete information.
Items 2, 5, 6, 7, 8, 9, 10 and 11 may, however by considered
as correct unless amended by an amendment to this Form T-1.
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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of
1939, as amended, the Trustee, FIRST UNION NATIONAL BANK OF NORTH
CAROLINA, a national association organized and existing under the
laws of the United States of America, has duly caused this statement
of eligibility and qualification to be signed on its behalf by the
undersigned, thereunto duly authorized, all in the City of Charlotte,
and State of North Carolina on the 19th day of December , 1995.
FIRST UNION NATIONAL BANK OF NORTH CAROLINA
(Trustee)
BY: (signature of Karen E. Atkinson appears here)
Karen E. Atkinson
EXHIBIT T-1 (6)
CONSENTS OF TRUSTEE
Under section 321(b) of the Trust Indenture Act of
1939 and in connection with the proposed issuance by Public Service
Company of North Carolina, Incorporated of its Senior Unsecured Debt,
First Union National Bank of North Carolina, as the Trustee herein
named, hereby consents that reports of examinations of said Trustee
by Federal, State, Territorial or District authorities may be
furnished by such authorities to the Securities and Exchange Commission
upon requests therefor.
FIRST UNION NATIONAL BANK OF NORTH CAROLINA
BY: (signature of Daniel J. Ober appears here)
Daniel J. Ober, Vice President
Dated:
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