EX-25.B 6 h82756ex25-b.txt STATEMENT OF ELIGIBILITY OF TRUSTEE 1 EXHIBIT 25(b) 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) HSBC BANK USA (Exact name of trustee as specified in its charter) New York 13-2774727 (Jurisdiction of incorporation (I.R.S. Employer or organization if not a U.S. Identification No.) national bank) 140 Broadway, New York, NY 10005-1180 (212) 658-1000 (Zip Code) (Address of principal executive offices) Warren L. Tischler Senior Vice President HSBC Bank USA 140 Broadway New York, New York 10005-1180 Tel: (212) 658-5167 (Name, address and telephone number of agent for service) PORTLAND GENERAL ELECTRIC COMPANY (Exact name of obligor as specified in its charter) Oregon 93-0256820 (State or other jurisdiction (I.R.S. Employer of incorporation or organization) Identification No.) 121 S.W. Salmon Street Portland, Oregon 97204 (503) 464-8000 (Zip Code) (Address of principal executive offices) DEBT SECURITIES* (Title of Indenture Securities) *Specific title to be determined in connection with sale of Debt Securities 2 General Item 1. General Information. Furnish the following information as to the trustee: (a) Name and address of each examining or supervisory authority to which it is subject. State of New York Banking Department. Federal Deposit Insurance Corporation, Washington, D.C. Board of Governors of the Federal Reserve System, Washington, D.C. (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 Item 4. Trusteeships under other indentures. If the trustee is 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, furnish the following information. (a) Title of the securities outstanding under each such other indenture. First Mortgage Bonds (b) A brief statement of the fact relied upon as a basis for the claim that no conflicting interest within the meaning of Section 310(b)(1) of the Act arises as a result of the trusteeship under any such other indenture, including a statement as to how the indenture securities will rank as compared with the securities issued under such other indenture. Securities under other indenture rank equally with securities under the indenture. Securities issued under other indenture are secured by liens on certain property. Securities issued under this indenture are unsecured. So there should not be any conflict with respect to security. With respect to other matters, there should be no conflict because securities rank pari passu. 3 Item 16. List of Exhibits. Exhibit T1A(i) (1) - Copy of the Organization Certificate of HSBC Bank USA T1A(ii) (1) - Certificate of the State of New York Banking Department dated December 31, 1993 as to the authority of HSBC Bank USA to commence business as amended effective on March 29, 1999. T1A(iii) - Not applicable. T1A(iv) (1) - Copy of the existing By-Laws of HSBC Bank USA as adopted on January 20, 1994 as amended on October 23, 1997. T1A(v) - Not applicable. T1A(vi) (2) - Consent of HSBC Bank USA required by Section 321(b) of the Trust Indenture Act of 1939. T1A(vii) - Copy of the latest report of condition of the trustee (September 30, 2000), published pursuant to law or the requirement of its supervisory or examining authority. T1A(viii) - Not applicable. T1A(ix) - Not applicable. (1) Exhibits previously filed with the Securities and Exchange Commission with registration No. 022-22429 and incorporated herein by reference thereto. (2) Exhibit previously filed with the Securities and Exchange Commission with Registration No. 33-53693 and incorporated herein by reference thereto. 4 SIGNATURE Pursuant to the requirements of the Trust Indenture Act of 1939, the Trustee, HSBC Bank USA, a banking corporation and trust company organized 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 February, 2001. HSBC BANK USA By: /s/ James M. Foley ------------------------ James M. Foley Assistant Vice President 5 EXHIBIT T1A(vii) Board of Governors of the Federal Reserve System OMB Number: 7100-0036 Federal Deposit Insurance Corporation OMB Number: 3064-0052 Office of the Comptroller of the Currency OMB Number: 1557-0081 FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL Expires March 31, 2002 -------------------------------------------------------------------------------------------------------------------------------- Please refer to page i, Table of Contents, for [1] the required disclosure of estimated burden. -------------------------------------------------------------------------------------------------------------------------------- CONSOLIDATED REPORTS OF CONDITION AND INCOME FOR A BANK WITH DOMESTIC AND FOREIGN OFFICES--FFIEC 031 REPORT AT THE CLOSE OF BUSINESS SEPTEMBER 30, 2000 (19980930) ---------- (RCRI 9999) This report is required by law; 12 U.S.C. Section 324 (State This report form is to be filed by banks with member banks); 12 U.S.C. Section 1817 (State nonmember banks); branches and consolidated subsidiaries in U.S. and 12 U.S.C. Section 161 (National banks). territories and possessions, Edge or Agreement subsidiaries, foreign branches, consolidated foreign subsidiaries, or International Banking Facilities. NOTE: The Reports of Condition and Income must be signed by an The Reports of Condition and Income are to be authorized officer and the Report of Condition must be prepared in accordance with Federal regulatory attested to by not less than two directors (trustees) for authority instructions. State nonmember banks and three directors for State member and National Banks. We, the undersigned directors (trustees), attest to the correctness of this Report of Condition I, Gerald A. Ronning, Executive VP & Controller (including the supporting schedules) and declare that --------------------------------------------------- it has been examined by us and to the best of our Name and Title of Officer Authorized to Sign Report knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct. of the named bank do hereby declare that these Reports of Condition and Income (including the supporting schedules) have /s/ Youssef A. Nasr been prepared in conformance with the instructions issued by ----------------------------------------------------- the appropriate Federal regulatory authority and are true to Director (Trustee) the best of my knowledge and believe. /s/ Bernard J. Kennedy /s/ Gerald A. Ronning ----------------------------------------------------- ------------------------------------------------------ Director (Trustee) Signature of Officer Authorized to Sign Report 11/10/00 /s/ Sal H. Alfiero ------------------------------------------------------ ----------------------------------------------------- Date of Signature Director (Trustee) -------------------------------------------------------------------------------------------------------------------------------- SUBMISSION OF REPORTS Each Bank must prepare its Reports of Condition and Income either: For electronic filing assistance, contact EDS Call report Services, 2150 N. Prospect Ave., Milwaukee, (a) in electronic form and then file the computer data file WI 53202, telephone (800) 255-1571. directly with the banking agencies' collection agent, Electronic Data System Corporation (EDS), by modem or computer To fulfill the signature and attestation requirement diskette; or for the Reports of Condition and Income for this report date, attach this signature page to the (b) in hard-copy (paper) form and arrange for another party to hard-copy of the completed report that the bank convert the paper report to automated for. That party (if other places in its files. than EDS) must transmit the bank's computer data file to EDS. -------------------------------------------------------------------------------------------------------------------------------- FDIC Certificate Number 00589 ----------- (RCRI 9030) http://WWW.BANKING.US.HSBC.COM HSBC Bank USA -------------------------------------------------------------------- ----------------------------------------------------- Primary Internet Web Address of Bank (Home Page), if any (TEXT 4087) Legal Title of Bank (TEXT 9010) (Example: www.examplebank.com) Buffalo ----------------------------------------------------- City (TEXT 9130) N.Y. 14203 ----------------------------------------------------- State Abbrev. (TEXT 9200) ZIP Code (TEXT 9220) Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency
6 REPORT OF CONDITION Consolidating domestic and foreign subsidiaries of the HSBC Bank USA of Buffalo -------------------------------------------------------- Name of Bank City in the state of New York, at the close of business September 30, 2000 All schedules are to be reported in thousands of dollars. Unless otherwise indicated, report the amount outstanding as of the last business day of the quarter.
Thousands of dollars ASSETS Cash and balances due from depository institutions: Non-interest-bearing balances currency and coin $ 1,986,803 Interest-bearing balances 6,432,408 Held-to-maturity securities 4,227,953 Available-for-sale securities 16,867,689 Federal funds sold and securities purchased under agreements to resell 2,629,177 Loans and lease financing receivables: Loans and leases net of unearned income $ 38,813,494 LESS: Allowance for loan and lease losses 531,808 LESS: Allocated transfer risk reserve -- Loans and lease, net of unearned income, allowance, and reserve $ 38,281,686 Trading assets 4,937,459 Premises and fixed assets (including capitalized leases) 731,615 Other real estate owned 17,793 Investments in unconsolidated subsidiaries and associated companies 2,549,829 Customers' liability to this bank on acceptances outstanding 226,814 Intangible assets 2,969,884 Other assets 2,165,839 Total assets 84,024,949
7 LIABILITIES Deposits: In domestic offices 34,632,582 Non-interest-bearing 5,234,945 Interest-bearing 29,397,637 In foreign offices, Edge and Agreement subsidiaries, and IBFs 21,655,922 Non-interest-bearing 246,990 Interest-bearing 21,408,932 Federal funds purchased and securities sold under agreements to repurchase 1,314,197 Demand notes issued to the U.S. Treasury 4,140,116 Trading Liabilities 2,280,559 Other borrowed money (including mortgage indebtedness and obligations under capitalized leases): With a remaining maturity of one year or less 4,396,659 With a remaining maturity of more than one year through three years 603,614 With a remaining maturity of more than three years 568,109 Bank's liability on acceptances executed and outstanding 226,814 Subordinated notes and debentures 1,648,467 Other liabilities 2,908,320 Total liabilities 74,375,359 EQUITY CAPITAL Perpetual preferred stock and related surplus -- Common Stock 205,000 Surplus 9,129,848 Undivided profits and capital reserves 310,156 Net unrealized holding gains (losses) on available-for-sale securities 20,473 Accumulated net gain (losses) on cash flow hedges -- Cumulative foreign currency translation adjustments (15,887) Total equity capital 9,649,590 Total liabilities and equity capital 84,024,949