EXHIBIT 4.5
This is a Security Agreement and a Mortgage of Chattels as Well as a
Mortgage of Real Estate and Other Property
Ninth Supplemental Indenture
from
SAN DIEGO GAS & ELECTRIC COMPANY
to
THE BANK OF CALIFORNIA, NATIONAL ASSOCIATION
_____________
Dated as of August 1, 1968
TABLE OF CONTENTS*
Page
Parties..................................................................... 1
Recitals.................................................................... 1
ARTICLE I
AMENDMENTS OF INDENTURE
Section 1. Definition of Permanent Additions............................. 3
Section 2. Amendment of Section 11 of Article II of Original Indenture... 4
Section 3. Addition of Section 18 to Article II of Original Indenture.... 5
Section 4. Addition of Clause (2) of Section 2 to Article XI............. 5
Section 5. Addition of Section 9 to Article XVII of Original Indenture... 5
ARTICLE II
MISCELLANEOUS PROVISIONS
Section 1. This Indenture Supplemental to Indenture of July 1, 1940..... 5
Section 2. Effective Date............................................... 6
Section 3. Covenants, Stipulations, Promises and Agreements............. 6
-------------------
Signatures and Acknowledgments............................................. 6,7
-----------------------
* For convenience only and not a part of the Ninth Supplemental Indenture.
This Ninth Supplemental Indenture Is a Security Agreement and a
Mortgage of Chattels as Well as a Mortgage of
Real Estate and Other Property
THIS NINTH SUPPLEMENTAL INDENTURE, made as of the 1st day of August, 1968,
by and between SAN DIEGO GAS & ELECTRIC COMPANY, a corporation duly organized
and existing under and by virtue of the laws of the State of California, having
its principal office in that State in the City of San Diego (the "Company"), the
party of the first part, and THE BANK OF CALIFORNIA, NATIONAL ASSOCIATION, a
corporation duly organized under an act known as the "National Bank Act," of the
United States of America, having its principal office in the City and County of
San Francisco, State of California, as Trustee (the "Trustee"), the party of the
second part.
WHEREAS, the Company executed and delivered a Mortgage and Deed of Trust
(the "Original Indenture"), dated July 1, 1940, to the Trustee to secure payment
of the principal of and the interest on all bonds of the Company at any time
outstanding thereunder according to their tenor and effect, and to provide the
terms and provisions with respect to its First Mortgage Bonds, 3/8% Series due
July 1, 1970, issued in the aggregate principal amount of $16,000,000 and
presently outstanding; and
WHEREAS, the Company executed and delivered to the Trustee a First
Supplemental Indenture dated as of December 1, 1946, a Second Supplemental
Indenture dated as of March 1, 1948, a Third Supplemental Indenture dated as of
April 1, 1952, a Fourth Supplemental Indenture dated as of April 1, 1954, a
Fifth Supplemental Indenture dated as of October 1, 1955, a Sixth Supplemental
Indenture dated as of October 1, 1957, a Seventh Supplemental Indenture, dated
as of October 1, 1960, and an Eighth Supplemental Indenture dated as of March 1,
1967, whereby, among other things, the Company set forth certain of the
particulars of the Bonds of series designated "First Mortgage Bonds, 2 3/4%
Series due December 1, 1981" issued in the aggregate principal amount of
$2,800,000, "First Mortgage Bonds, Series C due 1978" issued in the aggregate
principal amount of $10,000,000, "First Mortgage Bonds, Series D due 1982"
issued in the aggregate principal amount of $12,000,000, "First Mortgage Bonds,
Series E due 1984" issued in the aggregate principal amount of $17,000,000,
"First Mortgage Bonds, Series F due 1985" issued in the aggregate principal
amount of $18,000,000, "First Mortgage Bonds, Series G due 1987" issued in the
aggregate principal amount of $12,000,000, "First Mortgage Bonds, Series H due
1990" issued in the aggregate principal amount of $30,000,000, "First Mortgage
Bonds, Series I due 1997," issued in the aggregate principal amount of
$25,000,000, respectively, all of which First Mortgage Bonds except the 2 3/4%
Series due December 1, 1981 in the principal amount of $2,800,000 (which have
heretofore been retired) are presently issued and outstanding; and
WHEREAS, the Original Indenture and each of said Supplemental Indentures
have been recorded in the Official Records of the Recorders of the Counties of
San Diego, Orange and Riverside, respectively, as follows:
Official Counties of
Document Records San Diego Orange Riverside
-----------------------------------------------------------------------------------------------------
Original Indenture Book 1087 1062 1765
Page 1 300 364
Date Oct. 10, 1940 Oct. 10, 1940 July 13, 1955
-----------------------------------------------------------------------------------------------------
First Supplemental Book 2321 1506 1765
Indenture Page 48 472 499
Date Jan. 2, 1947 Jan. 9, 1947 July 13, 1955
-----------------------------------------------------------------------------------------------------
Second Supplemental Book 2537 1616 1765
Indenture Page 363 190 448
Date Mar. 16, 1948 Mar. 15, 1948 July 13, 1955
-----------------------------------------------------------------------------------------------------
Third Supplemental Book 4424 2311 1765
Indenture Page 535 116 475
Date Apr. 3, 1952 Apr. 3, 1952 July 13, 1955
-----------------------------------------------------------------------------------------------------
Fourth Supplemental Book 5193 2701 1765
Indenture Page 217 153 336
Date Apr. 2, 1954 Apr. 2, 1954 July 13, 1955
-----------------------------------------------------------------------------------------------------
Fifth Supplemental Book 5893 3304 1829
Indenture Page 291 205 3
Date Dec. 5, 1955 Dec. 5, 1955 Dec. 5, 1955
-----------------------------------------------------------------------------------------------------
Sixth Supplemental Book 6829 4099 2175
Indenture Page 390 109 538
Date Nov. 12, 1957 Nov. 12, 1957 Nov. 12, 1957
-----------------------------------------------------------------------------------------------------
Seventh Supplemental Book Series 1
Book 1960 5455 2780
Indenture Page File No. 202061 385 3
Date Oct. 10, 1960 Oct. 10, 1960 Oct. 10, 1960
-----------------------------------------------------------------------------------------------------
Eighth Supplemental Book 1967 Series 8 8197 20925
Indenture Page File No. 33860 129 (Endorsement
Date Mar. 13, 1967 Mar. 13, 1967 No.)
Mar. 13, 1967;
and
WHEREAS, the Company desires to amend the original Indenture as heretofore
amended, supplemented and now in effect, as hereinafter set forth; and
WHEREAS, the execution and delivery of this Ninth Supplemental Indenture
has been duly authorized by resolution of the Board of Directors of the Company,
has been duly authorized and approved by the Public Utilities Commission of the
State of California and has been approved by the holders of more than 66 2/3% in
principal amount of the First Mortgage Bonds of the Company presently
outstanding; and
2
WHEREAS, the Corporation has requested the Trustee to join in the execution
and delivery of this Ninth Supplemental Indenture; and
WHEREAS, all other acts and things necessary to make this Ninth
Supplemental Indenture a valid, binding and legal instrument and a valid,
binding and legal amendment of the original Indenture, have been duly performed
and done;
NOW, THEREFORE, in consideration of the premises IT IS HEREBY AGREED AND
PROVIDED:
ARTICLE I
AMENDMENTS OF INDENTURE
Section 1. The definition of "Permanent Additions" contained in Section 4
of Article I of the Indenture is hereby amended to read as follows:
"Section 4. The term "Permanent Additions" shall mean all property,
real, personal or mixed (including therein, without in anywise limiting or
impairing by the enumeration of the same, the scope and intent of the
foregoing except as hereinafter specifically limited, all lands, buildings,
plants, power houses, dams, reservoirs, stations, lines, gas plants,
holders, pipes, mains, conduits, cables, machinery, pumps, transmission and
distribution lines, pipe lines, rights-of-way, distribution systems,
substations, transformers, meters, service systems and supply systems,
wires, poles, cross-arms, apparatus, and improvements, extensions and
additions, including operating public utility properties acquired as an
entirety whether by purchase, consolidation, merger or otherwise) which
shall have been made, acquired, constructed or erected by the Company or by
the Company and one or more other public utilities jointly subsequent to
June 30, 1940, or in the process of construction or erection in so far as
actually constructed or erected subsequent to June 30, 1940, and used or to
be used in the business of generating, manufacturing, storing,
transporting, transmitting, distributing or supplying electricity or gas
for light, heat, power, refrigeration or other purposes. Permanent
Additions shall also include betterments, improvements, extensions and
additions to the steam properties owned by the Company on June 30, 1940, if
made, acquired, constructed or erected by the Company subsequent to June
30, 1940. The term "Permanent Additions" shall not include
(1) the undivided interest or interests of the one or more other
public utilities in any such property made, acquired, constructed or
erected by the Company and one or more other public utilities jointly;
(2) any property (other than paving, grading and other improvements
to public properties) not subject to the lien of this Indenture as a first
lien except for "permitted liens" as that term is hereinafter defined and
except for Non-callable Liens as that term is hereinafter defined;
3
(3) any plant used or intended for use in the manufacture of
artificial gas if acquired in place as an entirety, or substantially as an
entirety, except a plant built or constructed for the account of the
Company; or any property used or intended for use in the transmission of
natural or artificial gas if located outside of San Diego County,
California, or the counties immediately adjacent thereto;
(4) any property acquired by the Company for the purpose of producing
natural gas, oil or coal, or natural gas or oil rights owned in fee or
under lease or gas xxxxx or oil xxxxx or equipment therefor, or coal mines
or equipment therefor;
(5) any franchises or governmental permits or licenses granted to or
acquired by the Company as such, separate and distinct from the property
operated thereunder or in connection therewith;
(6) any steam properties except to the extent hereinabove expressly
permitted;
(7) any item of property acquired or constructed to replace a similar
item of property whose retirement has not been credited to a capital
account; or any property whose cost has been charged, or is properly
chargeable, to repairs or maintenance or other operating expense account,
or whose cost has not been charged, or is not properly chargeable, to a
capital account; or
(8) any leased plant or system or any plant or system located on any
leased property, easement or right of way terminable after a fixed period
of time, or any undivided interest therein, or any betterments, extensions,
improvements or additions of, upon, or to, any such plant or system, to the
extent that such plant or system or betterments, extensions, improvements
or additions thereto, may not be capitalized by the Company in accordance
with the Uniform System of Accounts of the Public Utilities Commission or
such other commission as may have jurisdiction thereof, or, in the absence
of any such applicable Uniform System of Accounts, in accordance with
generally accepted principles of accounting.
The term Permanent Additions may include properties otherwise conforming to
the foregoing provisions of this Section acquired by the Company by means of or
in connection with the merger into the Company of any other corporation or the
consolidation of the Company with any other corporation or as a part of the
assets of any other corporation acquired as an entirety or substantially as an
entirety."
Section 2. Section 11 of Article II is hereby amended to read as follows:
"Section 11. In all cases of exchanges of bonds contemplated by the
next preceding section hereof, the bonds to be exchanged shall be
surrendered at the office or agency of the Company in such place or places
as shall be designated for the purpose in such bonds or in this Indenture
or any supplement thereto, with all unmatured coupons thereto appertaining
(in the case of coupon bonds) and the Company shall execute and the Trustee
shall authenticate and deliver in exchange therefor the bond or bonds which
the
bondholder making the exchange shall be entitled to receive. All bonds so
surrendered for exchange and the coupons appertaining thereto shall be
cancelled by the Trustee. Notwithstanding any legend endorsed on any
outstanding registered bond that such bond has been issued in lieu of or in
exchange for coupon bond(s) of the same issue and series with specified
numbers and that coupon bond(s) of said issue and series bearing the same
numbers will be issued in exchange for said registered bond, the Company
may execute and the Trustee may authenticate and deliver coupon bond(s) of
the same issue and series bearing different numbers than those specified in
such legend in exchange for any such registered bond surrendered for
exchange for coupon bonds, provided that such coupon bonds so issued in
exchange shall be in the same aggregate principal amount as such registered
bond surrendered for exchange. Upon every exchange of bonds (including
transfers of registered bonds without coupons under the provisions of
Section 12 of this Article), the Company (subject to the provisions of
Section 14 of this Article) may make a charge therefor sufficient to
reimburse it for any tax or taxes or other governmental charge required to
be paid by the Company by reason of such exchange and in addition may
charge a sum not exceeding Two Dollars ($2) for each bond issued upon any
such exchange, which shall be paid by the party requesting such exchange as
a condition precedent to the exercise of the privilege of making such
exchange. The Company shall not be obligated to make exchanges of bonds for
a period of ten (10) days next preceding any interest payment date."
Section 3. A new section is hereby added to Article II of the original
Indenture to be designated as Section 18 and to read as follows:
"Section 18. Notwithstanding any of the terms or provisions of the
Indenture, or any of the terms or provisions of any of the bonds now or
hereafter outstanding, whenever in the Indenture or in any bond of any
series (including series heretofore issued) hereafter authenticated and
delivered under any provision of the Indenture reference is made to the
execution, issue or signing of such bond by the Company or an officer
thereof, or to the attestation of its corporate seal affixed thereto, the
signature of the proper officer of the Company acting for any such purpose
may be either a manual signature of such officer or a facsimile thereof."
Section 4. Clause (2) of Section 2 of Article XI is hereby amended to read
as follows:
"(2) cancel, or make changes or alterations in, or substitutions of,
any and all contracts, leases and easements; or waive the right to
partition property additions owned as a tenant-in-common with one or more
other public utilities;"
Section 5. A new section is hereby added to Article XVII of the original
Indenture to be designated as Section 9 and to read as follows:
"Section 9. Anything in this Article XVII contained to the contrary
notwithstanding, the Trustee shall receive the written consent or consents
of the holders of not less than 66 2/3% in principal amount of bonds then
outstanding and entitled to
consent in lieu of the holding of a meeting pursuant to this Article XVII
and in lieu of all action at such a meeting."
ARTICLE II
MISCELLANEOUS PROVISIONS
Section 1. This instrument is executed and shall be construed as an
indenture supplemental to the Original Indenture and shall form a part thereof
and, as amended by this Ninth Supplemental Indenture, the Original Indenture, as
heretofore amended and supplemented, is hereby confirmed.
In order to facilitate the filing of this Ninth Supplemental Indenture the
same may be executed in several counterparts each of which, when so executed,
shall be deemed to be an original, but such counterparts shall constitute but
one and the same instrument.
Section 2. This Ninth Supplemental Indenture is dated for convenience
August 1, 1968, although executed and delivered on the date of the
acknowledgment hereof by the Trustee, and the same shall be effective from the
date on which it is so executed and delivered.
Section 3. All of the covenants, stipulations, promises and agreements in
this Ninth Supplemental Indenture contained by or on behalf of the Company shall
bind its successors and assigns, whether so expressed or not.
IN WITNESS WHEREOF, SAN DIEGO GAS & ELECTRIC COMPANY has caused this Ninth
Supplemental Indenture to be signed in its name and behalf by its President or
one of its Vice Presidents and its corporate seal to be hereunto affixed duly
attested by its Secretary or one of its Assistant Secretaries, and THE BANK OF
CALIFORNIA, NATIONAL ASSOCIATION, to evidence its acceptance of the trusts
hereby created, has caused this Ninth Supplemental Indenture to be signed in its
name and behalf by its President or one of its Vice Presidents and its corporate
seal to be hereunto affixed duly attested by its Secretary or one of its
Assistant Secretaries as of the day and year first above written.
SAN DIEGO GAS & ELECTRIC COMPANY
By XXXXXXX XXXXXXXXXX
Vice President
Attest:
C. XXXXXX XXXX
Assistant Secretary
[Corporate Seal]
THE BANK OF CALIFORNIA, NATIONAL ASSOCIATION
By X. X. XXXXXXX
Vice President
Attest:
W. E. XXXXXXX
Assistant Secretary
[Corporate Seal]
State of California
City and County of San Francisco--ss.
On this 1st day of August, 1968, before me, XXXXX XXXXX, a Notary Public in
and for said City and County and State, personally appeared XXXXXXX XXXXXXXXXX,
known to me to be Vice President and C. XXXXXX XXXX, known to me to be Assistant
Secretary of SAN DIEGO GAS & ELECTRIC COMPANY, a California corporation, one of
the corporations that executed the within instrument, and known to me to be the
persons who executed the within instrument on behalf of the corporation therein
named, and acknowledged to me that such corporation executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.
XXXXX XXXXX
Notary Public in and for the City and County
of San Francisco, State of California
My Commission expires Feb. 14, 1972
[Notarial Seal]
State of California
City and County of San Francisco--ss.
On this 8 day of August, 1968, before me, XXXXX X. XXXXXX, a Notary Public
in and for said City and County and State, personally appeared X. X. XXXXXXX,
known to me to be Vice President, and W. E. XXXXXXX, known to me to be Assistant
Secretary of THE BANK OF CALIFORNIA, NATIONAL ASSOCIATION, a corporation duly
organized under an act known as the "National Bank Act," of the United States of
America, one of the corporations that executed the within instrument, and known
to me to be the persons who executed the within instrument on behalf of the
corporation therein named, and acknowledged to me that such corporation executed
the same as trustee.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.
XXXXX X. XXXXXX
Notary Public in and for the City and County
of San Francisco, State of California
My Commission expires July 5, 1969
[Notarial Seal]
Executed counterparts of the foregoing Ninth Supplemental Indenture were
recorded on August 14, 1968, Series 9 Book 1968 of Official Records of the
County Recorder of San Diego County, California File/Page No. 138926; in
Official Record Book 8691, at page 69 of the County Recorder of Orange County,
California; and under Recorder's Endorsement No. 78781 of the County Recorder of
Riverside County, California.
