EX-25.(B)(1) 20 d788681dex25b1.htm EX-25.(B)(1) EX-25.(b)(1)

Exhibit 25(b)(1)

 

 

 

UNITED STATES

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 MELLON

TRUST COMPANY, N.A.

(Exact name of trustee as specified in its charter)

 

 

 

  95-3571558

(Jurisdiction of incorporation

if not a U.S. national bank)

 

(I.R.S. employer

identification no.)

 

333 South Hope Street

Suite 2525

Los Angeles, California

  90071
(Address of principal executive offices)   (Zip code)

 

 

Northern States Power Company

(Exact name of obligor as specified in its charter)

 

 

 

Minnesota    41-1967505

(State or other jurisdiction of

incorporation or organization)

  

(I.R.S. employer

identification no.)

 

414 Nicollet Mall

Minneapolis, Minnesota

  55401
(Address of principal executive offices)   (Zip code)

 

 

First Mortgage Bonds

(Title of the indenture securities)

 

 

 


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.

 

Name

  

Address

Comptroller of the Currency

United States Department of the Treasury

   Washington, DC 20219
Federal Reserve Bank    San Francisco, CA 94105
Federal Deposit Insurance Corporation
   Washington, DC 20429

 

  (b)

Whether it is authorized to exercise corporate trust powers.

Yes.

 

2.

Affiliations with Obligor.

If the obligor is an affiliate of the trustee, describe each such affiliation.

None.

 

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”).

 

  1.

A copy of the articles of association of The Bank of New York Mellon Trust Company, N.A., formerly known as The Bank of New York Trust Company, N.A. (Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121948 and Exhibit 1 to Form T-1 filed with Registration Statement No. 333-152875).

 

  2.

A copy of certificate of authority of the trustee to commence business. (Exhibit 2 to Form T-1 filed with Registration Statement No.333-121948).

 

  3.

A copy of the authorization of the trustee to exercise corporate trust powers (Exhibit 3 to Form T-1 filed with Registration Statement No.333-152875).

 

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  4.

A copy of the existing by-laws of the trustee (Exhibit 4 to Form T-1 filed with Registration Statement No. 333-229762).

 

  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. 333-152875).

 

  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.

 

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SIGNATURE

Pursuant to the requirements of the Act, the trustee, The Bank of New York Mellon Trust Company, N.A., a banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Jacksonville, and State of Florida, on the 11th day of April, 2024.

 

THE BANK OF NEW YORK MELLON

TRUST COMPANY, N.A.

By:  

/s/ Michael C. Jenkins

  Name:   Michael C. Jenkins
  Title:   Vice President

 

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EXHIBIT 7

Consolidated Report of Condition of

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

of 333 South Hope Street, Suite 2525, Los Angeles, CA 90071

At the close of business December 31, 2023, published in accordance with Federal regulatory authority instructions.

 

     Dollar amounts  
     in thousands  
ASSETS   

Cash and balances due from depository institutions:

  

Noninterest-bearing balances and currency and coin

     2,559  

Interest-bearing balances

     331,039  

Securities:

  

Held-to-maturity securities

     0  

Available-for-sale debt securities

     524  

Equity securities with readily determinable fair values not held for trading

     0  

Federal funds sold and securities purchased under agreements to resell:

  

Federal funds sold in domestic offices

     0  

Securities purchased under agreements to resell

     0  

Loans and lease financing receivables:

  

Loans and leases held for sale

     0  

Loans and leases, held for investment

     0  

LESS: Allowance for loan and lease losses

     0  

Loans and leases held for investment, net of allowance

     0  

Trading assets

     0  

Premises and fixed assets (including capitalized leases)

     13,138  

Other real estate owned

     0  

Investments in unconsolidated subsidiaries and associated companies

     0  

Direct and indirect investments in real estate ventures

     0  

Intangible assets

     856,313  

Other assets

     114,683  
  

 

 

 

Total assets

   $ 1,318,256  
  

 

 

 

 

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LIABILITIES   

Deposits:

  

In domestic offices

     1,264  

Noninterest-bearing

     1,264  

Interest-bearing

     0  

Federal funds purchased and securities sold under agreements to repurchase:

  

Federal funds purchased in domestic offices

     0  

Securities sold under agreements to repurchase

     0  

Trading liabilities

     0  

Other borrowed money:

  

(includes mortgage indebtedness and obligations under capitalized leases)

     0  

Not applicable

  

Not applicable

  

Subordinated notes and debentures

     0  

Other liabilities

     263,286  

Total liabilities

     264,550  

Not applicable

  
EQUITY CAPITAL   

Perpetual preferred stock and related surplus

     0  

Common stock

     1,000  

Surplus (exclude all surplus related to preferred stock)

     106,539  

Not available

  

Retained earnings

     946,167  

Accumulated other comprehensive income

     0  

Other equity capital components

     0  

Not available

  

Total bank equity capital

     1,053,706  

Noncontrolling (minority) interests in consolidated subsidiaries

     0  

Total equity capital

     1,053,706  
  

 

 

 

Total liabilities and equity capital

     1,318,256  
  

 

 

 

I, Matthew J. McNulty, CFO of the above-named bank do hereby declare that the Reports of Condition and Income (including the supporting schedules) for this report date have been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and are true to the best of my knowledge and belief.

 

Matthew J. McNulty

   )    CFO

We, the undersigned directors (trustees), attest to the correctness of the Report of Condition (including the supporting schedules) for this report date and 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 issued by the appropriate Federal regulatory authority and is true and correct.

 

Antonio I. Portuondo, President    )   
Loretta A. Lundberg, Managing Director    )    Directors (Trustees)
Jon M. Pocchia, Managing Director    )   

 

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