Aquila Energy Wins Nebraska Long-Term Energy Contract.KANSAS CITY Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo.--(BUSINESS WIRE)--Dec. 8, 1999-- Aquila Energy, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of UtiliCorp United (NYSE NYSE See: New York Stock Exchange : UCU UCU University and College Union (UK) UCU Ucore Uranium Inc (stock symbol) UCU University College Utrecht (The Netherlands) UCU University Credit Union ), and American Public Energy Agency (APEA APEA Alaska Public Employees Association APEA Australian Petroleum Exploration Association APEA Applicant Prepared Environmental Assessment APEA Association for Petroleum and Explosives Administration (UK) ) have signed the largest single long-term natural gas contract to be financed through the issuance of long-term taxable revenue bonds worth approximately $264 million. Aquila is providing the gas to APEA for sale to APEA's municipal utility customers and other public agencies across the United States. Under the contract gas commenced flowing Dec. 1 and continues for 12 years. APEA was created in 1995 by the Nebraska Public Gas Agency and Municipal Energy Agency of Nebraska. "American Public Energy Agency is extremely excited to have this opportunity to continue in its goal and purpose of providing a reliable supply of natural gas at the lowest reasonable price to its members and other public entities," said Roger W. Mock, president and chief executive officer of APEA. "The issuance of a taxable prepay gas supply bond issue opens new doors and provides additional flexibility for end use of natural gas by APEA customers." "We remain at the forefront of providing our customers the financial, physical, and risk management capabilities required to prosper economically in today's energy world," says Thomas P. McCarthy, the Aquila vice president who negotiated the contract with APEA. "The ability to execute this taxable prepay transaction is just another example of our proven ability to assist our customers in accomplishing their goals." Aquila has closed significant transactions in both the tax exempt and taxable bond Taxable Bond A debt security whose return to the investor is subject to taxes at the local, state or federal level, or some combination thereof. Notes: The majority of bonds issued are taxable bonds. prepay marketplace and expects continued growth in these areas by expanding its reach in the marketplace. The company is ranked as the third largest wholesaler of natural gas and second largest wholesaler of power in North America. It serves more than 10,000 customers across the United States and Canada. Aquila's parent, UtiliCorp United, is an international energy company with about 4.5 million customers across the U.S. and in Canada, Great Britain, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. and Australia. At September 30, 1999, UtiliCorp had $8.5 billion in assets and 12-month sales of $17.5 billion. |
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