8-K

0001193125-20-143597.txt : 20200515 0001193125-20-143597.hdr.sgml : 20200515 20200515112209 ACCESSION NUMBER: 0001193125-20-143597 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20200515 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20200515 DATE AS OF CHANGE: 20200515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUBLIC SERVICE CO OF COLORADO CENTRAL INDEX KEY: 0000081018 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 840296600 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03280 FILM NUMBER: 20882151 BUSINESS ADDRESS: STREET 1: 1800 LARIMER STREET CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: 3035717511 MAIL ADDRESS: STREET 1: P O BOX 840 STE 300 CITY: DENVER STATE: CO ZIP: 80201 8-K 1 d902869d8k.htm 8-K 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): May 15, 2020

Public Service Company of Colorado

(Exact Name of Registrant as Specified in Charter)

Colorado

001-3280

84-0296600

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

1800 Larimer Street Suite 1100

Denver, CO

80202

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code (303) 571-7511

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01.

Other Events.

On May 15, 2020, Public Service Company of Colorado, a Colorado corporation (PSCo), issued $375 million in aggregate principal amount of 2.70% First Mortgage Bonds, Series No. 35 due January 15, 2051 (the 2051 Bonds) and $375 million in aggregate principal amount of 1.90% First Mortgage Bonds, Series No. 36 due January 15, 2031 (the 2031 Bonds and, together with the 2051 Bonds, the Bonds), pursuant to an Underwriting Agreement among PSCo and CIBC World Markets Corp., J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and TD Securities (USA) LLC, as representatives of the underwriters named therein. The Bonds are being issued pursuant to the registration statement on Form S-3 (File No. 333-224333-02) (the Registration Statement). A prospectus supplement relating to the offering and sale of the Bonds was filed with the Securities and Exchange Commission on May 11, 2020. The Bonds will be governed by the Indenture, dated October 1, 1993, as supplemented, by and between PSCo and U.S. Bank National Association, as successor trustee, and the Supplemental Indenture dated as of May 1, 2020.

This Current Report on Form 8-K is being filed to report as exhibits certain documents in connection with that offering and sale for incorporation by reference into the Registration Statement.

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits.


Exhibit		Description

	4.01	Supplemental Indenture dated as of May 1, 2020, between Public Service Company of Colorado and U.S. Bank National Association, as successor Trustee, creating $375 million principal amount of 2.70% First Mortgage Bonds, Series No. 35 due 2051 and $375 million principal amount of 1.90% First Mortgage Bonds, Series No. 36 due 2031.

	5.01	Opinion of Faegre Drinker Biddle & Reath LLP regarding the validity of certain securities.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


May 15, 2020	Public Service Company of Colorado (a Colorado Corporation)

	/s/ Sarah W. Soong
	Name:	Sarah W. Soong
	Title:	Vice President and Treasurer

EX-4.01 2 d902869dex401.htm EX-4.01 EX-4.01

Exhibit 4.01

PUBLIC SERVICE COMPANY

OF COLORADO

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

Supplemental Indenture No. 31

Dated as of May 1, 2020

Supplemental to the Indenture

dated as of October 1, 1993

Establishing the Securities of Series Nos. 35 and 36

designated 2.70% First Mortgage Bonds, Series No. 35 due 2051, and

1.90% First Mortgage Bonds, Series No. 36 due 2031, respectively

SUPPLEMENTAL INDENTURE NO. 31, dated as of May 1, 2020, between PUBLIC SERVICE COMPANY OF COLORADO, a corporation duly organized and existing under the laws of the State of Colorado (hereinafter sometimes called the “Company”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as successor trustee (hereinafter sometimes called the “Trustee”) to Morgan Guaranty Trust Company of New York under the Indenture, dated as of October 1, 1993 (hereinafter called the “Original Indenture”), as previously supplemented and as further supplemented by this Supplemental Indenture No. 31. The Original Indenture and any and all indentures and all other instruments supplemental thereto are hereinafter sometimes collectively called the “Indenture”.

Recitals of the Company

The Original Indenture was authorized, executed and delivered by the Company to provide for the issuance from time to time of its Securities (such term and all other capitalized terms used herein without definition having the meanings assigned to them in the Original Indenture), to be issued in one or more series as contemplated therein, and to provide security for the payment of the principal of and premium, if any, and interest, if any, on the Securities. The Original Indenture has been recorded in the office of the Clerk and Recorder of each county in the State of Colorado in which the Company owns real property that is used in or in connection with the Electric Utility Business, as more fully set forth in Schedule A hereto.

The Company has heretofore executed and delivered to the Trustee the Supplemental Indentures referred to in Schedule B hereto for the purpose of establishing various series of Securities and appointing previous successor Trustees.

The Company desires to establish two new series of Securities to be designated “2.70% First Mortgage Bonds, Series No. 35 due 2051” and “1.90% First Mortgage Bonds, Series No. 36 due 2031” such series of Securities to be hereinafter sometimes called “Series No. 35” and “Series No. 36,” respectively.

The Company has duly authorized the execution and delivery of this Supplemental Indenture No. 31 to establish the Securities of Series No. 35 and Series No. 36 and has duly authorized the issuance of such Securities; and all acts necessary to make this Supplemental Indenture No. 31 a valid agreement of the Company, and to make the Securities of Series No. 35 and Series No. 36 valid obligations of the Company, have been performed.

Granting Clauses

NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE NO. 31 WITNESSETH, that, in consideration of the premises and of the purchase of the Securities by the Holders thereof, and in order to secure the payment of the principal of and premium, if any, and interest, if any, on all Securities from time to time Outstanding and the performance of the covenants contained therein and in the Indenture and to declare the terms and conditions on which such Securities are secured, the Company hereby grants, bargains, sells, releases, conveys, assigns, transfers, mortgages, pledges, sets over and confirms to the Trustee, and grants to the Trustee a security interest in, the following:

Granting Clause First

All right, title and interest of the Company, as of the date of the execution and delivery of this Supplemental Indenture No. 31, in and to property (other than Excepted Property), real, personal and mixed and wherever situated, in any case used or to be used in or in connection with the Electric Utility Business (whether or not such use is the sole use of such property), including without limitation (a) all lands and interests in land

described or referred to in Schedule C hereto, and all right, title and interest of the Company in goods, fixtures or improvements located on those lands, if any, described or referred to in Schedule D hereto, provided that the Lien hereof shall not extend to or encumber the fee owner’s interest in any land or interest in land in which the Company holds only a leasehold interest; (b) all other lands, easements, servitudes, licenses, permits, rights of way and other rights and interests in or relating to real property used or to be used in or in connection with the Electric Utility Business or relating to the occupancy or use of such real property, subject however, to the exceptions and exclusions set forth in clause (a) of Granting Clause First of the Original Indenture; (c) all plants, generators, turbines, engines, boilers, fuel handling and transportation facilities, air and water pollution control and sewage and solid waste disposal facilities and other machinery and facilities for the generation of electric energy; (d) all switchyards, lines, towers, substations, transformers and other machinery and facilities for the transmission of electric energy; (e) all lines, poles, conduits, conductors, meters, regulators and other machinery and facilities for the distribution of electric energy; (f) all buildings, offices, warehouses and other structures used or to be used in or in connection with the Electric Utility Business; (g) all pipes, cables, insulators, ducts, tools, computers and other data processing and/or storage equipment and other equipment, apparatus and facilities used or to be used in or in connection with the Electric Utility Business; (h) any or all of the foregoing properties in the process of construction; and (i) all other property, of whatever kind and nature, ancillary to or otherwise used or to be used in conjunction with any or all of the foregoing or otherwise, directly or indirectly, in furtherance of the Electric Utility Business;

Granting Clause Second

Subject to the applicable exceptions permitted by Section 810(c), Section 1303 and Section 1305 of the Original Indenture, all property (other than Excepted Property) of the kind and nature described in Granting Clause First which may be hereafter acquired by the Company, it being the intention of the Company that all such property acquired by the Company after the date of the execution and delivery of this Supplemental Indenture No. 31 shall be as fully embraced within and subjected to the Lien hereof as if such property were owned by the Company as of the date of the execution and delivery of this Supplemental Indenture No. 31;

Granting Clause Fourth

All other property of whatever kind and nature subjected or required to be subjected to the Lien of the Indenture by any of the provisions thereof;

This Instrument shall constitute a financing statement under the Colorado Uniform Commercial Code (the “UCC”) to be filed in the real estate records, and is filed as a fixture filing under the UCC covering goods which are, or are to become, fixtures on the real property described herein, in the Original Indenture and all supplements to the Original Indenture;

Excepted Property

Expressly excepting and excluding, however, from the Lien and operation of the Indenture all Excepted Property of the Company, whether now owned or hereafter acquired;

TO HAVE AND TO HOLD all such property, real, personal and mixed, unto the Trustee, its successors in trust and their assigns forever;

SUBJECT, HOWEVER, to (a) Liens existing at the date of the execution and delivery of the Original Indenture, (b) as to property acquired by the Company after the date of the execution and delivery of the Original Indenture, Liens existing or placed thereon at the time of the acquisition thereof (including, but not limited to, the Lien of any Class A Mortgage and purchase money Liens), (c) Retained Interests and (d) any other Permitted Liens, it being understood that, with respect to any property which was at the date of execution and delivery of the Original Indenture or thereafter became or hereafter becomes subject to the Lien of any Class A Mortgage, the Lien of the Indenture shall at all times be junior, subject and subordinate to the Lien of such Class A Mortgage;

IN TRUST, NEVERTHELESS, for the equal and proportionate benefit and security of the Holders from time to time of all Outstanding Securities without any priority of any such Security over any other such Security;

PROVIDED, HOWEVER, that the right, title and interest of the Trustee in and to the Mortgaged Property shall cease, terminate and become void in accordance with, and subject to the conditions set forth in, Article Nine of the Original Indenture, and if, thereafter, the principal of and premium, if any, and interest, if any, on the Securities shall have been paid to the Holders thereof, or shall have been paid to the Company pursuant to Section 603 of the Original Indenture, then and in that case the Indenture shall terminate, and the Trustee shall execute and deliver to the Company such instruments as the Company shall require to evidence such termination; otherwise the Indenture, and the estate and rights thereby granted shall be and remain in full force and effect; and

THE PARTIES HEREBY FURTHER COVENANT AND AGREE as follows:

ARTICLE ONE

Securities of Series No. 35

There are hereby established the Securities of Series No. 35, which shall have the terms and characteristics set forth below (the lettered subdivisions set forth below corresponding to the lettered subdivisions of Section 301 of the Original Indenture):

(a) the title of the Securities of Series No. 35 shall be “2.70% First Mortgage Bonds, Series No. 35 due 2051”;

(b) the Securities of Series No. 35 shall initially be authenticated and delivered in the aggregate principal amount of $375,000,000. The Securities of Series No. 35 may be reopened and additional Securities of Series No. 35 may be issued in excess of the amount initially authenticated and delivered, provided that such additional Securities of Series No. 35 will contain the same terms (including the Stated Maturity and interest payment terms) as the other Securities of Series No. 35, except for the price to the public, the issue date, and if applicable, the first interest accrual and payment dates. Any such additional Securities of Series No. 35, together with the Securities of Series No. 35 initially authenticated, shall constitute a single series for purposes of the Indenture and shall be limited to an aggregate principal amount of $1,000,000,000;

(c) interest on the Securities of Series No. 35 shall be payable to the Persons in whose names such Securities are registered at the close of business on the Regular Record Date for such interest, except as otherwise expressly provided in the form of such Securities attached as Exhibit A hereto;

(d) the principal of the Securities of Series No. 35 shall be payable on January 15, 2051, the Stated Maturity for Series No. 35;

(e) the Securities of Series No. 35 shall bear interest at a rate of 2.70% per annum; interest shall accrue on the Securities of Series No. 35 from May 15, 2020 or the most recent date to which interest has been paid or duly provided for; the Interest Payment Dates for such Securities shall be January 15 and July 15 in each year, commencing January 15, 2021, and the Regular Record Dates with respect to the Interest Payment Dates for such Securities shall be January 1 and July 1 in each year, respectively (whether or not a Business Day);

(f) the Corporate Trust Office of U.S. Bank National Association in New York, New York shall be the place at which (i) the principal of, premium, if any, and interest, if any, on the Securities of Series No. 35 shall be payable, (ii) registration of transfer of such Securities may be effected, (iii) exchanges of such Securities may be effected and (iv) notices and demands to or upon the Company in respect of such Securities and the Indenture may be served; and U.S. Bank National Association shall be the Security Registrar for such Securities; provided, however, that the Company reserves the right to change, by one or more Officer’s Certificates, any such place or the Security Registrar; and provided, further, that the Company reserves the right to designate, by one or more Officer’s Certificates, its principal office in Denver, Colorado, as any such place or itself as the Security Registrar;

(g) the Securities of Series No. 35 shall be redeemable at the option of the Company at any time prior to July 15, 2050 (which is the date that is six months prior to the Stated Maturity (hereinafter called the “2051 Par Call Date”)), in whole or in part, at a “make whole” redemption price equal to the greater of (i) 100% of the principal amount thereof to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on such Securities to be redeemed that would be due if such Securities matured on the 2051 Par Call Date (excluding the portion of any such accrued and unpaid interest to but excluding the Redemption Date), discounted to but excluding the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points plus, in each case, accrued and unpaid interest thereon to but excluding the Redemption Date. At any time on or after the 2051 Par Call Date, the Company may redeem, in whole or in part, the Securities of Series No. 35 at 100% of the principal amount being redeemed plus accrued and unpaid interest thereon to but excluding the Redemption Date.

For purposes hereof, the following defined terms shall have the meaning ascribed to them:

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Securities of Series No. 35 (assuming, for this purpose, that the Securities of Series No. 35 matured on the 2051 Par Call Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Securities of Series No. 35.

“Comparable Treasury Price” means with respect to any redemption date of the Securities of Series No. 35 (i) the average of the Reference Treasury Dealer Quotations for the Redemption Date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations for such Redemption Date, or (ii) if the Independent Investment Banker obtains fewer than four of such Reference Treasury Dealer Quotations for the Redemption Date, the average of all of the Reference Treasury Dealer Quotations for such Redemption Date.

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Trustee after consultation with the Company.

“Primary Treasury Dealer” means any primary U.S. Government securities dealer in the United States.

“Reference Treasury Dealer” means (1) each of J.P. Morgan Securities LLC and TD Securities (USA) LLC, and a Primary Treasury Dealer selected by each of CIBC World Markets Corp. and KeyBanc Capital Markets Inc. and any other Primary Treasury Dealer designated by, and not affiliated with, CIBC World Markets Corp., J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and TD Securities (USA) LLC, or their respective affiliates or successors, provided, however, that if any of the foregoing or any of their respective designees, ceases to be a Primary Treasury Dealer, the Company will appoint another Primary Treasury Dealer as a substitute and (2) any other Primary Treasury Dealer selected by the Company after consultation with an Independent Investment Banker.

“Reference Treasury Dealer Quotations” means, for any Reference Treasury Dealer and any Redemption Date, the average, as determined by an Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to an Independent Investment Banker by the Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding the Redemption Date.

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. The Treasury Rate will be calculated on the third Business Day preceding such Redemption Date.

The provisions of Sections 501, 502, 503, 504, 505 and 506 of the Original Indenture shall be applicable to the Securities of Series No. 35, except that (i) the notice of redemption required to be provided to Holders pursuant to Section 504 shall be provided not less than 10 nor more than 60 days prior to the Redemption Date and (ii) the notice of redemption to be provided by the Company to the Trustee pursuant to Section 502 shall be provided at least twenty-five (25) days prior to the Redemption Date (unless a shorter notice period shall be satisfactory to the Trustee).

(h) not applicable;

(i) the Securities of Series No. 35 shall be issuable only in denominations of $2,000 and integral multiples of $1,000 in excess thereof;

(j) not applicable;

(k) not applicable;

(l) not applicable;

(m) not applicable;

(n) not applicable;

(o) not applicable;

(p) not applicable;

(q) the Securities of Series No. 35 are to be initially registered in the name of Cede & Co., as nominee for The Depository Trust Company (the “Depositary”). Such Securities shall not be transferable or exchangeable, nor shall any purported transfer be registered, except as follows:

(i) such Securities may be transferred in whole, and appropriate registration of transfer effected, if such transfer is by such nominee to the Depositary, or by the Depositary to another nominee thereof, or by any nominee of the Depositary to any other nominee thereof, or by the Depositary or any nominee thereof to any successor securities depositary or any nominee thereof; and

(ii) such Securities may be exchanged for definitive Securities registered in the respective names of the beneficial holders thereof, and thereafter shall be transferable without restriction, if:

(A) the Depositary, or any successor securities depositary, shall have notified the Company and the Trustee that it is unwilling or unable to continue to act as securities depositary with respect to such Securities or the Depositary has ceased to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and the Trustee shall not have been notified by the Company within ninety (90) days of the identity of a successor securities depositary with respect to such Securities; or

(B) the Company shall have delivered to the Trustee a Company Order to the effect that such Securities shall be so exchangeable on and after a date specified therein; or

(C) (1) an Event of Default shall have occurred and be continuing, (2) the Trustee shall have given notice of such Event of Default pursuant to Section 1102 of the Original Indenture, and (3) there shall have been delivered to the Company and the Trustee an Opinion of Counsel to the effect that the interests of the beneficial owners of such Securities in respect thereof will be materially impaired unless such owners become Holders of definitive Securities;

(r) not applicable;

(s) no service charge shall be made for the registration of transfer or exchange of the Securities of Series No. 35; provided, however, that the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the exchange or transfer;

(t) not applicable;

(u)

(i) If the Company shall have caused the Company’s indebtedness in respect of any Securities of Series No. 35, to have been satisfied and discharged prior to the Maturity of such Securities, as provided in Section 901 of the Original Indenture, the Company shall, promptly after the date of such satisfaction and discharge, give a notice to each Person who was a Holder of any of such Securities on such date stating (A)(1) the aggregate principal amount of such Securities and (2) the aggregate amount of any money (other than amounts, if any, deposited in respect of accrued interest on such Securities) and the aggregate principal amount of, the rate or rates of interest on, and the aggregate fair market value of, any Eligible Obligations deposited pursuant to Section 901 of the Original Indenture with respect to such Securities and (B) that the Company will provide (and the Company shall promptly so provide) to such Person, or any beneficial owner of such Securities holding through such Person (upon written request to the Company sent to an address specified in such notice), such other information as such Person or beneficial owner, as the case may be, reasonably may request in order to enable it to determine the federal income tax consequences to it resulting from the satisfaction and discharge of the Company’s indebtedness in respect of such Securities. Thereafter, the Company shall, within forty-five (45) days after the end of each calendar year, give to each Person who at any time during such calendar year was a Holder of such Securities a notice containing (X) such information as may be necessary to enable such Person to report its income, gain or loss for federal income tax purposes with respect to such Securities or the assets held on deposit in respect thereof during such calendar year or the portion thereof during which such Person was a Holder of such Securities, as the case may be (such information to be set forth for such calendar year as a whole and for each month during such year) and (Y) a statement to the effect that the Company will provide (and the Company shall promptly so provide) to such Person, or any beneficial owner of such Securities holding through such Person (upon written request to the Company sent to an address specified in such notice), such other information as such Person or beneficial owner, as the case may be, reasonably may request in order to enable it to determine its income, gain or loss for federal income tax purposes with respect to such Securities or such assets for such year or portion thereof, as the case may be. The obligation of the Company to provide or cause to be provided information for purposes of income tax reporting by any Person as described in the first two sentences of this paragraph shall be deemed to have been satisfied to the extent that the Company has provided or caused to be provided substantially comparable information pursuant to any requirements of the Internal Revenue Code of 1986, as amended from time to time (the “Code”) and United States Treasury regulations thereunder.

(ii) Notwithstanding the provisions of subparagraph (i) above, the Company shall not be required to give any notice specified in such subparagraph or to otherwise furnish any of the information contemplated therein if the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not recognize income, gain or loss for federal income tax purposes as a result of the satisfaction and discharge of the Company’s indebtedness in respect of such Securities and such Holders will be subject to federal income taxation on the same amounts and in the same manner and at the same times as if such satisfaction and discharge had not occurred.

(iii) Anything in this clause (u) to the contrary notwithstanding, the Company shall not be required to give any notice specified in subparagraph (i) or to otherwise furnish the information contemplated therein or to deliver any Opinion of Counsel contemplated by subparagraph (ii) if the Company shall have caused Securities of Series No. 35 to be deemed to have been paid for purposes of the Indenture, as provided in Section 901 of the Original Indenture, but shall not have effected the satisfaction and discharge of its indebtedness in respect of such Securities pursuant to such Section.

(v) The Securities of Series No. 35 shall be substantially in the form attached hereto as Exhibit A, and shall have such further terms as are set forth in such form.

ARTICLE TWO

Securities of Series No. 36

There are hereby established the Securities of Series No. 36, which shall have the terms and characteristics set forth below (the lettered subdivisions set forth below corresponding to the lettered subdivisions of Section 301 of the Original Indenture):

(a) the title of the Securities of Series No. 36 shall be “1.90% First Mortgage Bonds, Series No. 36 due 2031”;

(b) the Securities of Series No. 36 shall initially be authenticated and delivered in the aggregate principal amount of $375,000,000. The Securities of Series No. 36 may be reopened and additional Securities of Series No. 36 may be issued in excess of the amount initially authenticated and delivered, provided that such additional Securities of Series No. 36 will contain the same terms (including the Stated Maturity and interest payment terms) as the other Securities of Series No. 36, except for the price to the public, the issue date, and if applicable, the first interest accrual and payment dates. Any such additional Securities of Series No. 36, together with the Securities of Series No. 36 initially authenticated, shall constitute a single series for purposes of the Indenture and shall be limited to an aggregate principal amount of $1,000,000,000;

(c) interest on the Securities of Series No. 36 shall be payable to the Persons in whose names such Securities are registered at the close of business on the Regular Record Date for such interest, except as otherwise expressly provided in the form of such Securities attached as Exhibit B hereto;

(d) the principal of the Securities of Series No. 36 shall be payable on January 15, 2031, the Stated Maturity for Series No. 36;

(e) the Securities of Series No. 36 shall bear interest at a rate of 1.90% per annum; interest shall accrue on the Securities of Series No. 36 from May 15, 2020 or the most recent date to which interest has been paid or duly provided for; the Interest Payment Dates for such Securities shall be January 15 and July 15 in each year, commencing January 15, 2021, and the Regular Record Dates with respect to the Interest Payment Dates for such Securities shall be January 1 and July 1 in each year, respectively (whether or not a Business Day);

(f) the Corporate Trust Office of U.S. Bank National Association in New York, New York shall be the place at which (i) the principal of, premium, if any, and interest, if any, on the Securities of Series No. 36 shall be payable, (ii) registration of transfer of such Securities may be effected, (iii) exchanges of such Securities may be effected and (iv) notices and demands to or upon the Company in respect of such Securities and the Indenture may be served; and U.S. Bank National Association shall be the Security Registrar for such Securities; provided, however, that the Company reserves the right to change, by one or more Officer’s Certificates, any such place or the Security Registrar; and provided, further, that the Company reserves the right to designate, by one or more Officer’s Certificates, its principal office in Denver, Colorado, as any such place or itself as the Security Registrar;

(g) the Securities of Series No. 36 shall be redeemable at the option of the Company at any time prior to July 15, 2030 (which is the date that is six months prior to the Stated Maturity (hereinafter called the “2031 Par Call Date”)), in whole or in part, at a “make whole” redemption price equal to the greater of (i) 100% of the principal amount thereof to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on such Securities to be redeemed that would be due if such Securities matured on the 2031 Par Call Date (excluding the portion of any such accrued and unpaid interest to but excluding the Redemption Date), discounted to but excluding the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points plus, in each case, accrued and unpaid interest thereon to but excluding the Redemption Date. At any time on or after the 2031 Par Call Date, the Company may redeem, in whole or in part, the Securities of Series No. 36 at 100% of the principal amount being redeemed plus accrued and unpaid interest thereon to but excluding the Redemption Date.

For purposes hereof, the following defined terms shall have the meaning ascribed to them:

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Securities of Series No. 36 (assuming, for this purpose, that the Securities of Series No. 36 matured on the 2031 Par Call Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Securities of Series No. 36.

“Comparable Treasury Price” means with respect to any redemption date of the Securities of Series No. 36 (i) the average of the Reference Treasury Dealer Quotations for the Redemption Date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations for such Redemption Date, or (ii) if the Independent Investment Banker obtains fewer than four of such Reference Treasury Dealer Quotations for the Redemption Date, the average of all of the Reference Treasury Dealer Quotations for such Redemption Date.

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Trustee after consultation with the Company.

“Primary Treasury Dealer” means any primary U.S. Government securities dealer in the United States.

The provisions of Sections 501, 502, 503, 504, 505 and 506 of the Original Indenture shall be applicable to the Securities of Series No. 36, except that (i) the notice of redemption required to be provided to Holders pursuant to Section 504 shall be provided not less than 10 nor more than 60 days prior to the Redemption Date and (ii) the notice of redemption to be provided by the Company to the Trustee pursuant to Section 502 shall be provided at least twenty-five (25) days prior to the Redemption Date (unless a shorter notice period shall be satisfactory to the Trustee).

(h) not applicable;

(i) the Securities of Series No. 36 shall be issuable only in denominations of $2,000 and integral multiples of $1,000 in excess thereof;

(j) not applicable;

(k) not applicable;

(l) not applicable;

(m) not applicable;

(n) not applicable;

(o) not applicable;

(p) not applicable;

(q) the Securities of Series No. 36 are to be initially registered in the name of Cede & Co., as nominee for The Depository Trust Company (the “Depositary”). Such Securities shall not be transferable or exchangeable, nor shall any purported transfer be registered, except as follows:

(ii) such Securities may be exchanged for definitive Securities registered in the respective names of the beneficial holders thereof, and thereafter shall be transferable without restriction, if:

(B) the Company shall have delivered to the Trustee a Company Order to the effect that such Securities shall be so exchangeable on and after a date specified therein; or

(r) not applicable;

(s) no service charge shall be made for the registration of transfer or exchange of the Securities of Series No. 36; provided, however, that the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the exchange or transfer;

(t) not applicable;

(u)

(i) If the Company shall have caused the Company’s indebtedness in respect of any Securities of Series No. 36, to have been satisfied and discharged prior to the Maturity of such Securities, as provided in Section 901 of the Original Indenture, the Company shall, promptly after the date of such satisfaction and discharge, give a notice to each Person who was a Holder of any of such Securities on such date stating (A)(1) the aggregate principal amount of such Securities and (2) the aggregate amount of any money (other than amounts, if any, deposited in respect of accrued interest on such Securities) and the aggregate principal amount of, the rate or rates of interest on, and the aggregate fair market value of, any Eligible Obligations deposited pursuant to Section 901 of the Original Indenture with respect to such Securities and (B) that the Company will provide (and the Company shall promptly so provide) to such Person, or any beneficial owner of such Securities holding through such Person (upon written request to the Company

sent to an address specified in such notice), such other information as such Person or beneficial owner, as the case may be, reasonably may request in order to enable it to determine the federal income tax consequences to it resulting from the satisfaction and discharge of the Company’s indebtedness in respect of such Securities. Thereafter, the Company shall, within forty-five (45) days after the end of each calendar year, give to each Person who at any time during such calendar year was a Holder of such Securities a notice containing (X) such information as may be necessary to enable such Person to report its income, gain or loss for federal income tax purposes with respect to such Securities or the assets held on deposit in respect thereof during such calendar year or the portion thereof during which such Person was a Holder of such Securities, as the case may be (such information to be set forth for such calendar year as a whole and for each month during such year) and (Y) a statement to the effect that the Company will provide (and the Company shall promptly so provide) to such Person, or any beneficial owner of such Securities holding through such Person (upon written request to the Company sent to an address specified in such notice), such other information as such Person or beneficial owner, as the case may be, reasonably may request in order to enable it to determine its income, gain or loss for federal income tax purposes with respect to such Securities or such assets for such year or portion thereof, as the case may be. The obligation of the Company to provide or cause to be provided information for purposes of income tax reporting by any Person as described in the first two sentences of this paragraph shall be deemed to have been satisfied to the extent that the Company has provided or caused to be provided substantially comparable information pursuant to any requirements of the Internal Revenue Code of 1986, as amended from time to time (the “Code”) and United States Treasury regulations thereunder.

(iii) Anything in this clause (u) to the contrary notwithstanding, the Company shall not be required to give any notice specified in subparagraph (i) or to otherwise furnish the information contemplated therein or to deliver any Opinion of Counsel contemplated by subparagraph (ii) if the Company shall have caused Securities of Series No. 36 to be deemed to have been paid for purposes of the Indenture, as provided in Section 901 of the Original Indenture, but shall not have effected the satisfaction and discharge of its indebtedness in respect of such Securities pursuant to such Section.

(v) The Securities of Series No. 36 shall be substantially in the form attached hereto as Exhibit B, and shall have such further terms as are set forth in such form.

ARTICLE THREE

Miscellaneous Provisions

This Supplemental Indenture No. 31 is a supplement to the Original Indenture. As previously supplemented and further supplemented by this Supplemental Indenture No. 31, the Original Indenture is in all respects ratified, approved and confirmed, and the Original Indenture, all previous supplements thereto and this Supplemental Indenture No. 31 shall together constitute one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture No. 31 to be duly executed as of the day and year first above written.


PUBLIC SERVICE COMPANY OF COLORADO

By:		/s/ Sarah W. Soong
		Name: Sarah W. Soong
		Title: Vice President and Treasurer


STATE OF MINNESOTA		)
		) ss:
COUNTY OF SCOTT		)

The foregoing was acknowledged before me this 4^th day of May, 2020, by Sarah W. Soong, the Vice President and Treasurer of Public Service Company of Colorado, a corporation organized under the laws of Colorado, on behalf of the corporation.

Witness my hand and official seal.

My commission expires: January 31, 2021


/s/ Kristin Lynn Westlund
Name:		Kristin Lynn Westlund
		Notary Public, State of Minnesota

[Signature Page – Supplemental Indenture (PSCo)]


U.S. BANK NATIONAL ASSOCIATION,
Trustee

By:		/s/ Joshua A. Hahn
		Name: Joshua A. Hahn
		Title: Vice President


STATE OF MINNESOTA		)
		) ss:
COUNTY OF Ramsey		)

On the 6^th day of May, 2020, before me personally came Joshua A. Hahn, to me known, who, being by me duly sworn, did depose and say that he is a Vice President of U.S. Bank National Association, the banking association described in and which executed the foregoing instrument; and that he signed his name thereto by authority of the Board of Directors of said banking association.

/s/ Judy Ann Galberth

Name: Judy Ann Galberth

Notary Public, State of Minnesota

[Signature Page – Supplemental Indenture (Trustee)]

EXHIBIT A

FORM OF SECURITY

(See legend at the end of this Security for

restrictions on transfer)

PUBLIC SERVICE COMPANY OF COLORADO

First Mortgage Bond, Series No. 35

Original Interest Accrual Date

Interest Rate:

Stated Maturity:

Interest Payment Dates:

Regular Record Dates:

May 15, 2020

2.70% per annum

January 15, 2051

January 15 and July 15

January 1 and July 1

This Security is not a Discount Security

within the meaning of the within-mentioned Indenture


Principal Amount		Registered No.

PUBLIC SERVICE COMPANY OF COLORADO, a corporation duly organized and existing under the laws of the State of Colorado (herein called the “Company,” which term includes any successor corporation under the Indenture referred to below), for value received, hereby promises to pay to ______________, or registered assigns, the principal sum of ____________ Dollars on the Stated Maturity specified above, and to pay interest thereon from the Original Interest Accrual Date specified above or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on the Interest Payment Dates specified above in each year, commencing January 15, 2021 and at Maturity, at the Interest Rate per annum specified above, until the principal hereof is paid or duly provided for. The interest so payable, and paid or duly provided for, on any Interest Payment Date shall, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date specified above (whether or not a Business Day) next preceding such Interest Payment Date. Notwithstanding the foregoing, interest payable at Maturity shall be paid to the Person to whom principal shall be paid. Except as otherwise provided in said Indenture, any such interest not so paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice of which shall be given to Holders of Securities of this series not less than 15 days prior to such Special Record Date, or be paid in such other manner as permitted by the Indenture.

EXHIBIT A-1

Payment of the principal of this Security and interest hereon at Maturity shall be made upon presentation of this Security at the Corporate Trust Office of U.S. Bank National Association in New York, New York or at such other office or agency as may be designated for such purpose by the Company from time to time. Payment of interest on this Security (other than interest at Maturity) shall be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register, except that if such Person shall be a securities depositary, such payment may be made by such other means in lieu of check as shall be agreed upon by the Company, the Trustee and such Person. Payment of the principal of and interest on this Security, as aforesaid, shall be made in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts.

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and issuable in one or more series under and equally secured by an Indenture, dated as of October 1, 1993 (such Indenture as originally executed and delivered and as supplemented or amended from time to time thereafter, together with any constituent instruments establishing the terms of particular Securities, being herein called the “Indenture”), between the Company and U.S. Bank National Association as successor trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the property mortgaged, pledged and held in trust, the nature and extent of the security and the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of the Securities thereunder and of the terms and conditions upon which the Securities are, and are to be, authenticated and delivered and secured. The acceptance of this Security shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Indenture. This Security is one of the series designated above.

If any Interest Payment Date or the Stated Maturity shall not be a Business Day (as hereinafter defined), payment of the amounts due on this Security on such date may be made on the next succeeding Business Day; and, if such payment is made or duly provided for on such Business Day, no interest shall accrue on such amounts for the period from and after such Interest Payment Date or Stated Maturity, as the case may be, to such Business Day.

This Security shall be redeemable at the option of the Company at any time prior to July 15, 2050 (which is the date that is six months prior to the Stated Maturity (herein called the “Par Call Date”)), in whole or in part, at a “make whole” redemption price equal to the greater of (i) 100% of the principal amount hereof to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on this Security to be redeemed that would be due if this Security matured on the Par Call Date (excluding the portion of any such accrued and unpaid interest to but excluding the Redemption Date), discounted to but excluding the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points, plus, in each case, accrued and unpaid interest thereon to but excluding the Redemption Date. At any time on or after the Par Call Date, the Securities shall be redeemable, in whole or in part, at 100% of the principal amount being redeemed plus accrued and unpaid interest thereon to but excluding the Redemption Date. For purposes hereof, the following defined terms shall have the meaning ascribed to them:

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of this Security (assuming, for this purpose, that this Security matured on the Par Call Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of this Security.

“Comparable Treasury Price” means with respect to any redemption date of this Security (i) the average of the Reference Treasury Dealer Quotations for the Redemption Date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations for such Redemption Date, or (ii) if the Independent Investment Banker obtains fewer than four of such Reference Treasury Dealer Quotations for the Redemption Date, the average of all of the Reference Treasury Dealer Quotations for such Redemption Date.

EXHIBIT A-2

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Trustee after consultation with the Company.

“Primary Treasury Dealer” means any primary U.S. Government securities dealer in the United States.

“Reference Treasury Dealer” means (1) each of J.P. Morgan Securities LLC and TD Securities (USA) LLC, and a Primary Treasury Dealer selected by each of CIBC World Markets Corp. and KeyBanc Capital Markets Inc. and any other Primary Treasury Dealer designated by, and not affiliated with, CIBC World Markets Corp., J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and TD Securities (USA) LLC, or their respective affiliates or successors, provided, however, that if any of the foregoing, or any of their respective designees ceases to be a Primary Treasury Dealer, the Company will appoint another Primary Treasury Dealer as a substitute and (2) any other Primary Treasury Dealer selected by the Company after consultation with an Independent Investment Banker.

If an Event of Default shall occur and be continuing, the principal of this Security may be declared due and payable in the manner and with the effect provided in the Indenture.

The Indenture permits, with certain exceptions as therein provided, the Trustee to enter into one or more supplemental indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Indenture with the consent of the Holders of not less than a majority in aggregate principal amount of the Securities of all series then Outstanding under the Indenture, considered as one class; provided, however, that if there shall be Securities of more than one series Outstanding under the Indenture and if a proposed supplemental indenture shall directly affect the rights of the Holders of Securities of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Securities of all series so directly affected, considered as one class, shall be required; and provided, further, that if the Securities of any series shall have been issued in more than one Tranche and if the proposed supplemental indenture shall directly affect the rights of the Holders of Securities of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Securities of all Tranches so directly affected, considered as one class, shall be required; and provided, further, that the Indenture permits the Trustee to enter into one or more supplemental indentures for limited purposes without the consent of any Holders of Securities. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities then Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.

EXHIBIT A-3

As provided in the Indenture and subject to certain limitations therein set forth, this Security or any portion of the principal amount hereof will be deemed to have been paid for all purposes of the Indenture and to be no longer Outstanding thereunder, and, at the election of the Company, the Company’s entire indebtedness in respect thereof will be satisfied and discharged, if there has been irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in trust, money in an amount which will be sufficient and/or Eligible Obligations, the principal of and interest on which when due, without regard to any reinvestment thereof, will provide moneys which, together with moneys so deposited, will be sufficient to pay when due the principal of and interest on this Security when due.

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the Corporate Trust Office of U.S. Bank National Association in New York, New York or such other office or agency as may be designated by the Company from time to time, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series of authorized denominations and of like tenor and aggregate principal amount, will be issued to the designated transferee or transferees.

The Securities of this series are issuable only as registered Securities, without coupons, and only in denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of the same series, of any authorized denominations, as requested by the Holder surrendering the same, and of like tenor upon surrender of the Security or Securities to be exchanged at the office of U.S. Bank National Association, in New York, New York or such other office or agency as may be designated by the Company from time to time.

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the absolute owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

The Indenture and the Securities shall be governed by and construed in accordance with the laws of the State of New York (including without limitation Section 5-1401 of the New York General Obligations Law or any successor to such statute), except to the extent that the Trust Indenture Act of 1939, as then in effect or any successor statute shall be applicable and except to the extent that the law of any jurisdiction wherein any portion of the property mortgaged pursuant to the Indenture or any indenture supplemental thereto is located shall mandatorily govern the perfection, priority or enforcement of the lien of the Indenture and all indentures supplemental thereto with respect to such portion of the mortgaged property.

As used herein, “Business Day” means any day, other than a Saturday or Sunday, which is not a day on which banking institutions or trust companies in The City of New York, New York, or other city in which is located any office or agency maintained for the payment of principal or interest on this Security, are authorized or required by law, regulation or executive order to remain closed. All other terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

EXHIBIT A-4

As provided in the Indenture, no recourse shall be had for the payment of the principal of or interest on any Securities, or any part thereof, or for any claim based thereon or otherwise in respect thereof, or of the indebtedness represented thereby, or upon any obligation, covenant or agreement under the Indenture, against, and no personal liability whatsoever shall attach to, or be incurred by, any incorporator, shareholder, officer or director, as such, past, present or future of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor corporation), whether by virtue of any constitutional provision, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that the Indenture and all the Securities are solely corporate obligations and that any such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of the Indenture and the issuance of the Securities.

Unless the certificate of authentication hereon has been executed by the Trustee or an Authenticating Agent by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

EXHIBIT A-5

IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed.


PUBLIC SERVICE COMPANY OF COLORADO

By:
		[Vice President and Treasurer]


Attest:
		Assistant Secretary

CERTIFICATE OF AUTHENTICATION

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture.

Dated:

U.S. BANK

NATIONAL ASSOCIATION,

as Trustee

U.S. BANK

NATIONAL ASSOCIATION,

as Trustee


By		By:
	Authorized Officer		as Authenticating Agent

		By:
			Authorized Officer

Unless this certificate is presented by an authorized representative of The Depository Trust Company, a limited-purpose trust company organized under the New York Banking Law (“DTC”), to the Company or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

This Security may not be transferred or exchanged, nor may any purported transfer be registered, except (i) this Security may be transferred in whole, and appropriate registration of transfer effected, if such transfer is by Cede & Co., as nominee for The Depository Trust Company (the “Depositary”), to the Depositary, or by the Depositary to another nominee thereof, or by any nominee of the Depositary to any other nominee thereof, or by the Depositary or any nominee thereof to any successor securities depositary or any nominee thereof; and (ii) this Security may be exchanged for definitive Securities registered in the respective names of the beneficial holders hereof, and thereafter shall be transferable without restrictions if: (A) the Depositary, or any successor securities depositary, shall have notified the Company and the

EXHIBIT A-6

Trustee that it is unwilling or unable to continue to act as securities depositary with respect to the Securities and the Trustee shall not have been notified by the Company within ninety (90) days of the identity of a successor securities depositary with respect to the Securities; or (B) the Company shall have delivered to the Trustee a Company Order to the effect that the Securities shall be so exchangeable on and after a date specified therein or (C) (1) an Event of Default shall have occurred and be continuing, (2) the Trustee shall have given notice of such Event of Default pursuant to Section 1102 of the Original Indenture and (3) there shall have been delivered to the Company and the Trustee an Opinion of Counsel to the effect that the interests of the beneficial owners of such Securities in respect thereof will be materially impaired unless such owners become Holders of definitive Securities.

FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto

[please insert social security or other identifying number of assignee]

[please print or typewrite name and address of assignee]

the within Security of PUBLIC SERVICE COMPANY OF COLORADO and does hereby irrevocably constitute and appoint __________________________________, Attorney, to transfer said Security on the books of the within-mentioned Company, with full power of substitution in the premises.

Dated:

Notice: The signature to this assignment must correspond with the name as written upon the face of the Security in every particular without alteration or enlargement or any change whatsoever.

EXHIBIT A-7

EXHIBIT B

FORM OF SECURITY

(See legend at the end of this Security for

restrictions on transfer)

PUBLIC SERVICE COMPANY OF COLORADO

First Mortgage Bond, Series No. 36

Original Interest Accrual Date

Interest Rate:

Stated Maturity:

Interest Payment Dates:

Regular Record Dates:

May 15, 2020

1.90% per annum

January 15, 2031

January 15 and July 15

January 1 and July 1

This Security is not a Discount Security

within the meaning of the within-mentioned Indenture


Principal Amount		Registered No.

EXHIBIT B-1

This Security shall be redeemable at the option of the Company at any time prior to July 15, 2030 (which is the date that is six months prior to the Stated Maturity (herein called the “Par Call Date”)), in whole or in part, at a “make whole” redemption price equal to the greater of (i) 100% of the principal amount hereof to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on this Security to be redeemed that would be due if this Security matured on the Par Call Date (excluding the portion of any such accrued and unpaid interest to but excluding the Redemption Date), discounted to but excluding the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points, plus, in each case, accrued and unpaid interest thereon to but excluding the Redemption Date. At any time on or after the Par Call Date, the Securities shall be redeemable, in whole or in part, at 100% of the principal amount being redeemed plus accrued and unpaid interest thereon to but excluding the Redemption Date. For purposes hereof, the following defined terms shall have the meaning ascribed to them:

EXHIBIT B-2

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Trustee after consultation with the Company.

“Primary Treasury Dealer” means any primary U.S. Government securities dealer in the United States.

“Reference Treasury Dealer” means (1) each of J.P. Morgan Securities LLC and TD Securities (USA) LLC, and a Primary Treasury Dealer selected by each of CIBC World Markets Corp. and KeyBanc Capital Markets Inc. and any other Primary Treasury Dealer designated by, and not affiliated with, CIBC World Markets Corp., J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and TD Securities (USA) LLC, or their respective affiliates or successors, provided, however, that if any of the foregoing, or any of their respective designees ceases to be a Primary Treasury Dealer, the Company will appoint another Primary Treasury Dealer as a substitute and (2) any other Primary Treasury Dealer selected by the Company after consultation with an Independent Investment Banker.

If an Event of Default shall occur and be continuing, the principal of this Security may be declared due and payable in the manner and with the effect provided in the Indenture.

EXHIBIT B-3

EXHIBIT B-4

EXHIBIT B-5

IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed.


PUBLIC SERVICE COMPANY OF COLORADO

By:
		[Vice President and Treasurer]


Attest:
		Assistant Secretary

CERTIFICATE OF AUTHENTICATION

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture.

Dated:

U.S. BANK

NATIONAL ASSOCIATION,

as Trustee

U.S. BANK

NATIONAL ASSOCIATION,

as Trustee


By		By:
	Authorized Officer		as Authenticating Agent

		By:
			Authorized Officer

EXHIBIT B-6

FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto

[please insert social security or other identifying number of assignee]

[please print or typewrite name and address of assignee]

Dated:

Notice: The signature to this assignment must correspond with the name as written upon the face of the Security in every particular without alteration or enlargement or any change whatsoever.

EXHIBIT B-7

SCHEDULE A

The following table sets forth recording information relating to the recordation, in each of the specified Colorado counties, of the Indenture dated as of October 1, 1993, granted by Public Service Company of Colorado to Morgan Guaranty Trust Company of New York, Trustee (recording information for Supplemental Indentures is not shown in this table):


COUNTY	DATE	TIME	RECEPTION NUMBER	BOOK/FILM	PAGE
Adams	Oct. 13, 1993	01:35 P.M.	Reception No. B1183903	Book 4170	Page 324

Alamosa	Oct. 12, 1993	03:00 P.M.	Reception No. 265666	Book 475	Page 160

Arapahoe	Oct. 13, 1993	04:07 P.M.	Reception No. 141032	Book 7186	Page 383

Archuleta	Oct. 12, 1993	02:21 P.M.	Reception No. 93006202

Baca	May 16, 2013	09:50 A.M.	Reception No. 418754

Bent	Oct. 12, 1993	11:35 A.M.	Reception No. 278521	Book 435	Page 1

Boulder	Oct. 13, 1993	03:04 P.M.	Reception No. 01347991	Film 1888

Broomfield	May 10, 2019	10:20 A.M.	Reception No. 2019004811

Chaffee	Oct. 14, 1993	11:00 A.M.	Reception No. 269673	Book 539	Page 518

Cheyenne	May 15, 2013	11:39 A.M.	Reception No. 236363

Clear Creek	Oct. 12, 1993	02:25 P.M.	Reception No. 163701	Book 505	Page 631

Conejos	Oct. 13, 1993	09:56 A.M.	Reception No. 205693	Book 354	Page 776

Costilla	Oct. 13, 1993	09:00 A.M.	Reception No. 191898	Book 291	Page 117

Crowley	Oct. 13, 1993	08:40 A.M.	Reception No. 148850	Book 244	Page 195

Custer	May 15, 2013	09:18 A.M.	Reception No. 221251

Delta	Oct. 13, 1993	09:37 A.M.	Reception No. 471619	Book 709	Page 50

Denver	Oct. 12, 1993	11:24 A.M.	Reception No. 9300139814

Dolores	Oct. 14, 1993	12:50 P.M.	Reception No. 133132	Book 260	Page 300

Douglas	Oct. 12, 1993	03:08 P.M.	Reception No. 9348340	Book 1154	Page 1

Eagle	Oct. 12, 1993	04:48 P.M.	Reception No. 518046	Book 621	Page 978

Elbert	Oct. 12, 1993	03:01 P.M.	Reception No. 313722	Book 480	Page 183

El Paso	Oct. 12, 1993	01:38 P.M.	Reception No. 002368410	Book 6282	Page 51

Fremont	Oct. 12, 1993	01:30 P.M.	Reception No. 608790	Book 1154	Page 31

SCHEDULE A-1


COUNTY	DATE	TIME	RECEPTION NUMBER	BOOK/FILM	PAGE

Garfield	Oct. 12, 1993	02:20 P.M.	Reception No. 453596	Book 878	Page 193

Gilpin	Oct. 12, 1993	02:20 P.M.	Reception No. 79260	Book 551	Page 413

Grand	Oct. 12, 1993	12:45 P.M.	Reception No. 93010260

Gunnison	Oct. 12, 1993	04:30 P.M.	Reception No. 446179	Book 733	Page 1

Hinsdale	May 14, 2013	05:20 P.M.	Reception No. 100157

Huerfano	Oct. 12, 1993	11:15 A.M.	Reception No. 9244	Book 21M	Page 316

Jefferson	Oct. 13, 1993	09:30 A.M.	Reception No. 93163438

Kiowa	Oct. 12, 1993	01:00 P.M.	Reception No. 249124	Book 409	Page 40

Kit Carson	May 15, 2013	09:40 A.M.	Reception No. 201300563130

La Plata	Oct. 12, 1993	03:38 P.M.	Reception No. 655580

Lake	Oct. 12, 1993	03:00 P.M.	Reception No. 305501	Book 506	Page 635

Larimer	Oct. 13, 1993	10:23 A.M.	Reception No. 93075587

Las Animas	May 15, 2013	09:24 A.M.	Reception No. 201300720666

Lincoln	May 10, 2019	11:33 A.M.	Reception No. 351580

Logan	Oct. 12, 1993	01:10 P.M.	Reception No. 606328	Book 874	Page 484

Mesa	Oct. 12, 1993	12:06 P.M.	Reception No. 1656362	Book 2014	Page 129

Mineral	May 16, 2013	10:40 A.M.	Reception No. 68174

Moffat	Oct. 12, 1993	11:00 A.M.	Reception No. 350044

Montezuma	Oct. 13, 1993	10:10 A.M.	Reception No. 435373	Book 0679	Page 756

Montrose	Oct. 12, 1993	03:06 P.M.	Reception No. 591244	Book 862;	Page 281

Morgan	Oct. 12, 1993	12:54 P.M.	Reception No. 738426	Book 959-60	Page 857

Otero	May 15, 2013	08:02 A.M.	Reception No. 634927

Ouray	Oct. 13, 1993	11:08 A.M.	Reception No. 154688	Book 221	Page 500

Park	Oct. 14, 1993	10:00 A.M.	Reception No. 417879	Book 504	Page 365

Pitkin	Oct. 14, 1993	03:56 P.M.	Reception No. 362054	Book 726	Page 791

Prowers	Oct. 12, 1993	02:00 P.M.	Reception No. 462785

Pueblo	Oct. 12, 1993	11:54 A.M.	Reception No. 1021381	Book 2685	Page 768

SCHEDULE A-2


COUNTY	DATE	TIME	RECEPTION NUMBER	BOOK/FILM	PAGE

Rio Blanco	Oct. 12, 1993	02:18 P.M.	Reception No. 249980	Book 506	Page 838

Rio Grande	Oct. 13, 1993	11:46 A.M.	Reception No. 337091	Book 450	Page 43

Routt	Oct. 12, 1993	11:12 A.M.	Reception No. 428347	Book 689	Page 2575

Saguache	Oct. 13, 1993	11:05 A.M.	Reception No. 304092	Book 486	Page 625

San Juan	Oct. 13, 1993	10:27 A.M.	Reception No. 136438	Book 240	Page 702

San Miguel	Oct. 12, 1993	04:05 P.M.	Reception No. 287896	Book 518	Page 813

Sedgewick	Oct. 12, 1993	02:15 P.M.	Reception No. 179877	Book 203	Page 55

Summit	Oct. 12, 1993	01:40 P.M.	Reception No. 453148

Teller	Oct. 13, 1993	08:00 A.M.	Reception No. 412373	Book 698	Page 104

Washington	Oct. 12, 1993	11:20 A.M.	Reception No. 802111	Book 925	Page 955

Weld	Oct. 13, 1993	09:54 A.M.	Reception No. 2354434	Book 1406	Page 1

Yuma	May 20, 2013	11:59 A.M.	Reception No. 00557180

SCHEDULE A-3

SCHEDULE B

SUPPLEMENTAL INDENTURES


Date of Supplemental Indenture	Series of Bonds	Principal Amount Issued	Principal Amount Outstanding
November 1, 1993	Series No. 1	$134,500,000	None
January 1, 1994	Series No. 2 due 2001	$102,667,000	None
	and
	Series No. 2 due 2024	$110,000,000	None
September 2, 1994	None	None	None
(Appointment of Successor Trustee)
May 1, 1996	Series No. 3	$125,000,000	None
November 1, 1996	Series No. 4	$250,000,000	None
February 1, 1997	Series No. 5	$150,000,000	None
April 1, 1998	Series No. 6	$250,000,000	None
August 15, 2002	Series No. 7	$48,750,000	None
September 1, 2002	Series No. 8	$600,000,000	None
September 15, 2002	Series No. 9	$530,000,000	None
April 1, 2003	Series No. 10	$600,000,000	None
March 1, 2003	Series No. 11	$250,000,000	None
September 15, 2003	Series No. 12	$250,000,000	None
May 1, 2003	Series No. 13	$350,000,000	None
September 1, 2003	Series No. 14	$300,000,000	None
September 1, 2003	Series No. 15	$275,000,000	None
August 1, 2005	Series No. 16	$129,500,000	None
August 1, 2007	Series No. 17 due 2037	$350,000,000	$350,000,000
August 1, 2008	Series No. 18 due 2018	$300,000,000	None
	and
	Series No. 19 due 2038	$300,000,000	$300,000,000
May 1, 2009	Series No. 20 due 2019	$400,000,000	None
November 1, 2010	Series No. 21 due 2020	$400,000,000	$400,000,000
August 1, 2011	Series No. 22 due 2041	$250,000,000	$250,000,000
September 1, 2012	Series No. 23 due 2022	$300,000,000	$300,000,000
	and
	Series No. 24 due 2042	$500,000,000	$500,000,000
March 1, 2013	Series No. 25 due 2023	$250,000,000	$250,000,000
	and
	Series No. 26 due 2043	$250,000,000	$250,000,000
March 1, 2014	Series No. 27 due 2044	$300,000,000	$300,000,000
May 1, 2015	Series No. 28 due 2025	$250,000,000	$250,000,000
June 1, 2016	Series No. 29 due 2046	$250,000,000	$250,000,000
June 1, 2017	Series No. 30 due 2047	$400,000,000	$400,000,000
June 1, 2018	Series No. 31 due 2028	$350,000,000	$350,000,000
	and
	Series No. 32 due 2048	$350,000,000	$350,000,000
March 1, 2019	Series No. 33 due 2049	$400,000,000	$400,000,000
August 1, 2019	Series No. 34 due 2050	$550,000,000	$550,000,000
May 1, 2020	Series No. 35 due 2051	$375,000,000	$375,000,000
	and
	Series No. 36 due 2031	$375,000,000	$375,000,000

SCHEDULE B-1

SCHEDULE C

DESCRIPTION OF PROPERTY

The following properties are in the State of Colorado and the counties thereof:

1.	Titan Site-Waterton Expansion

A TRACT OF LAND SITUATED IN THE SOUTHWEST 1/4 OF SECTION 25, TOWNSHIP 6 SOUTH, RANGE 69 WEST OF THE 6TH PRINCIPAL MERIDIAN, DOUGLAS COUNTY, COLORADO, MORE PARTICULARLY DESCRIBED AS FOLLOWS:

BEGINNING AT THE NORTHWEST CORNER OF SAID SOUTHWEST 1/4 AND CONSIDERING THE WEST LINE OF SAID SOUTHWEST 1/4 TO BEAR SOUTH 0 DEGREES 20 MINUTES 18 SECONDS EAST WITH ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO; THENCE SOUTH 0 DEGREES 20 MINUTES 18 SECONDS EAST ALONG SAID WEST LINE A DISTANCE OF 542.53 FEET TO THE NORTHWEST CORNER OF THAT TRACT OF LAND DESCRIBED IN BOOK 120 AT PAGE 13; THENCE NORTH 89 DEGREES 56 MINUTES 34 SECONDS EAST A DISTANCE OF 990.00 FEET TO THE NORTHEAST CORNER OF SAID DESCRIBED TRACT; THENCE SOUTH 0 DEGREES 20 MINUTES 18 SECONDS EAST ALONG THE EAST LINE OF SAID DESCRIBED TRACT A DISTANCE OF 730.00 FEET TO THE NORTHWEST CORNER OF THAT TRACT OF LAND DESCRIBED IN BOOK 199 AT PAGE 71; THENCE NORTH 89 DEGREES 56 MINUTES 34 SECONDS EAST A DISTANCE OF 1650.86 FEET TO THE NORTHEAST CORNER OF SAID DESCRIBED TRACT; THENCE NORTH 0 DEGREES 08 MINUTES 52 SECONDS WEST ALONG THE EAST LINE OF SAID SOUTHWEST 1/4 A DISTANCE OF 1276.99 FEET TO THE NORTHEAST CORNER OF SAID SOUTHWEST 1/4; THENCE SOUTH 89 DEGREES 50 MINUTES 46 SECONDS WEST A DISTANCE OF 2645.10 FEET TO THE POINT OF BEGINNING.

Douglas County, Colorado

2.	Pronghorn STATCOM

A PARCEL OF LAND LOCATED IN THE NORTHWEST QUARTER OF SECTION 24, TOWNSHIP 10 SOUTH, RANGE 58 WEST OF THE SIXTH PRINCIPAL MERIDIAN, COUNTY OF ELBERT, STATE OF COLORADO, SAID PARCEL BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

BASIS OF BEARING OF THIS DESCRIPTION IS ALONG THE NORTH LINE OF SECTION 24, T10S, R58W, 6TH P.M., ASSUMED TO BEAR N89°25’52’E, A DISTANCE OF 5249.64 FEET FROM A 2.5” ALUMINUM CAP L.S. #38012 FOUND AT THE NORTHWEST CORNER OF SAID SECTION 24, TO A 2.5” ALUMUNIM CAP L.S. #30127 FOUND AT THE NORTHEAST CORNER OF SAID SECTION 24.

BEGINNING AT THE NORTWEST CORNER OF SECTION 24;

THENCE N89°25’52’E ALONG SAID NORTH LINE OF SECTION 24, A DISTANCE OF 816.76 FEET; THENCE S00°48’22”E PARALLEL WITH AND 816.75 FEET EAST OF THE WEST LINE OF SAID NORTHWEST QUARTER OF SECTION 24, A DISTANCE OF 800.01 FEET; THENCE S89°25’52”W PARALLEL WITH AND 800 FEET SOUTH OF SAID NORTH LINE OF SECTION 24,

SCHEDULE C-1

A DISTANCE OF 816.76 FEET TO SAID WEST LINE OF THE NORTHWEST QUARTER OF SECTION 24; THENCE N00°48’22”W ALONG SAID WEST LINE, A DISTANCE OF 800.01 FEET TO THE POINT OF BEGINNING.

Elbert County, Colorado

3.	NREL Switchyard

COMMENCING AT THE WEST QUARTER CORNER OF SAID SECTION 9, BEING MONUMENTED BY A FOUND 3-1/4” DIAMETER ALUMINUM CAP IN A RANGE BOX, 0.1’ BELOW GROUND, STAMPED “COLO DEPT OF TRANSPORTATION T2S R70W 1/4 S8 S9 2004 PLS NO 14599”, WHENCE THE SOUTHWEST CORNER OF SAID SECTION 9, BEING MONUMENTED BY A FOUND 4” DIAMETER BRASS CAP STAMPED “WAR DEPARTMENT CORPS OF ENGINEERS—US ARMY – TRAVERSE STATION NW COR SEC 16, PT 8 RW” BEARS S00°20’50“E A DISTANCE OF 2638.03 FEET; THENCE N 18°54’01“E A DISTANCE OF 34.51 FEET TO THE POINT OF BEGINNING;

THENCE N62°02’01 “E A DISTANCE OF 30.12 FEET;

THENCE N85°23’32“E A DISTANCE OF 149.68 FEET;

THENCE THE FOLLOWING THREE (3) COURSES ALONG THE WESTERLY AND NORTHERLY LINES OF TRACT K “ROCK CREEK INDUSTRIAL PARK” RECORDED AT RECEPTION NO. 87151417 DATED DECEMBER 23, 1987 IN THE JEFFERSON COUNTY CLERK AND RECORDER’S OFFICE, AND THE NORTHERLY PROLONGATION OF THE EASTERLY MOST WESTERLY LINE THEREOF:

1) S20°17’29“E ALONG THE EASTERLY LINE OF A 100-FOOT WIDE TRANSMISSION LINE

EASEMENT DESCRIBE IN RIGHT-OF-WAY DEED RECORDED IN BOOK 153 AT PAGE 242 DATED JANUARY 22, 1909 IN THE JEFFERSON COUNTY CLERK AND RECORDER’S OFFICE A DISTANCE OF 834.97 FEET;

2) THENCE S69°42’31“W A DISTANCE OF 20,00 FEET;

3) THENCE S20°17’29“E A DISTANCE OF 172.03 FEET;

THENCE S69°42’31“W ALONG THE NORTHERLY LINE OF TRACT J SAID “ROCK CREEK INDUSTRIAL PARK” A DISTANCE OF 198.10 FEET;

THENCE, THE FOLLOWING THREE (3) COURSES ALONG THE EASTERLY AND NORTHERLY LINES OF TRACT I SAID “ROCK CREEK INDUSTRIAL PARK”:

1) N33°46’54“W TANGENT WITH THE FOLLOWING DESCRIBED CURVE A DISTANCE OF 222.81 FEET;

2) THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A CENTRAL ANGLE OF 25°00’00”, A RADIUS OF 324.18 FEET, A LONG CHORD WHICH BEARS N46°16’54“W A DISTANCE OF 140.33 FEET AND AN ARC DISTANCE OF 141.45 FEET;

3) THENCE N58°46’54“W TANGENT WITH THE LAST DESCRIBED CURVE A DISTANCE OF 102.51 FEET;

SCHEDULE C-2

THENCE THE FOLLOWING TWO (2) COURSE ALONG THE EASTERLY LINES OF A PARCEL OF LAND DESCRIBED IN RECEPTION NO. F0755657 DATED DECEMBER 10, 1998 IN THE JEFFERSON COUNTY CLERK AND RECORDER’S OFFICE:

1) N00°18’28“W A DISTANCE OF 87.35 FEET;

2) THENCE N03°59’48“W A DISTANCE OF 87.95 FEET;

THENCE N00°06’13“W ALONG THE EASTERLY RIGHT-OF-WAY OF HIGHWAY 93 AS DESCRIBED IN RIGHT-OF-WAY DOCUMENT RECORDED IN BOOK 814 AT PAGE 367 AND AT RECEPTION NO. 553481 DATED JULY 6, 1953 IN THE JEFFERSON COUNTY CLERK AND RECORDER’S OFFICE A DISTANCE OF 483.60 FEET TO THE POI NT OF BEGINNING;

CONTAINING 6.690 ACRES, MORE OR LESS.

Jefferson County, Colorado

4.	Tacoma Hydro-Ute Substation

TRACT I (A):

TOWNSHIP 38 NORTH. RANGE 9 WEST, N.M.P.M., La Plata County, Colorado:

Section 13: NW1/4SE1/4

TRACT II (B):

A tract of land located In Section 24, Township 38 North, Range 9 West, N.M.P.M., La Plata County,

Colorado, being more particularly described as follows:

BEGINNING at the Northwest Corner of Section 24, thence South 87° 17’ 25” East, a distance of 1310.92 feet to the West 1/16 Corner common to Section 13 and Section 24, thence South 87° 17’41” East, along the north line of the NE1/4NW1/4 of Section 24, a distance of 734.19 feet to the True Point of Beginning;

Thence South 87° 17’ 41” East, along said north line of the NE1/4NW1/4 of Section 24, a distance of 570.66 feet to the 1/4 Corner common to Section 13 and Section 24;

“	South 01° 13’ 11” West, along the east line of said NE1/4NW1/4 of Section 24, a distance of 1310.06 feet to the Center North 1/16 Corner of Section 24;

“	South 01° 13’ 11” West, along the east line of the SE1/4NW1/4 of Section 24, a distance of 242.80 feet;

“	North 68° 21’ 43” West, a distance of 11.42 feet;

“	North 47° 16’ 51” West, a distance of 41.44 feet;

“	North 57° 49’ 39” West, a distance of 65.39 feet;

“	North 15° 19’ 49” West, a distance of 48.15 feet;

“	North 54° 25’ 42” East, a distance of 40.80 feet;

“	North 48° 45’ 06” East, a distance of 31.32 feet;

“	North 33° 13’ 37” West, a distance of 33.51 feet;

“	South 82° 28’ 11” West, a distance of 39.65 feet;

“	South 64° 48’ 06” West, a distance of 17.63 feet;

“	North 08° 55’ 36” West, a distance of 72.21 feet;

“	North 07° 19’ 19” East, a distance of 27.94 feet;

“	South 86° 37’ 59” East, a distance of 59.61 feet;

SCHEDULE C-3

“	North 05° 18’ 37” East, a distance of 39.54 feet;

“	North 84° 56’ 57” West, a distance of 56.20 feet;

“	North 09° 11’ 32” East, a distance of 135.54 feet;

“	North 17° 48’ 42” East, a distance of 98.16 feet;

“	North 07° 18’ 18” East, a distance of 86.50 feet;

“	North 06° 01’ 30” West, a distance of 84.30 feet;

“	North 02° 44’ 36” East, a distance of 41.51 feet;

“	North 15° 49’ 23” West, a distance of 21.16 feet;

“	North 71° 02’ 56” East, a distance of 40.08 feet;

“	North 18° 57’ 04” West, a distance of 23.88 feet;

“	South 71° 02’ 56” West, a distance of 40.21 feet;

“	North 12° 42’ 34” West, a distance of 40.15 feet;

“	North 18° 41’ 31” West, a distance of 98.90 feet;

“	North 21° 21’ 10” West, a distance of 96.23 feet;

“	North 23° 02’ 43” West, a distance of 47.71 feet;

Thence

North 71° 02’ 39” East, a distance of 30.85 feet;

“	North 18° 57’ 21” West, a distance of 32.00 feet;

“	South 71° 02’ 39” West, a distance of 33.14 feet;

“	North 23° 02’ 43” West, a distance of 19.35 feet;

“	North 37° 06’ 27” West, a distance of 53.53 feet;

“	North 27° 49’ 32” West, a distance of 63.53 feet;

“	North 04° 00’ 22” West, a distance of 38.03 feet;

“	North 82° 35’ 46” East, a distance of 10.06 feet;

“	South 75° 22’ 03” East, a distance of 36.00 feet;

“	North 14° 37’ 57” East, a distance of 32.00 feet;

“	North 75° 22’ 03” West, a distance of 36.00 feet;

“	South 82° 35’ 46” West, a distance of 20.30 feet;

“	North 28° 27’ 13” West, a distance of 45.58 feet;

“	North 21° 10’ 19” West, a distance of 50.34 feet;

“	North 34° 24’ 32” West, a distance of 21.95 feet;

“	North 59° 18’ 14” West, a distance of 51.93 feet;

“	North 37° 11’ 33” West, a distance of 59.27 feet;

“	North 03° 12’ 01” West, a distance of 20.56 feet;

“	North 59° 42’ 37” West, a distance of 69.42 feet;

“	North 47° 47’ 10” West, a distance of 104.92 feet to the True Point of Beginning.

TRACT Ill (C):

A tract of land located in Section 24, Township 38 North, Range 9 West, N.M.P.M., La Plata County, Colorado, being more particularly described as follows:

BEGINNING at the Northwest Corner of Section 24, thence South 87° 17’ 25” East, a distance of 1310.92 feet to the West 1/16 Corner common to Section 13 and Section 24, thence South 01° 25’ 45” West, along the west line of the NE1/4NW1/4 of Section 24, a distance of 65.46 feet to the True Point of Beginning;

Thence North 76° 33’ 57” East, a distance of 151.67 feet;

“	along the arc of a tangent curve to the right with a delta angle of 27° 40’ 57” and a radius of 210.00 feet, a distance of 101.46 feet, the long chord bears South 89° 35’ 34” East, a distance of 100.48 feet;

“	South 75° 45’ 06” East, a distance of 87.53 feet;

“	South 82° 01’ 09” East, a distance of 222.64 feet;

“	along the arc of a tangent curve to the right with a delta angle of 40° 13’ 56” and a radius of 410.00 feet, a distance of 287.90 feet, the long chord bears South 61° 54’ 11” East, a distance of 282.02 feet;

SCHEDULE C-4

“	South 41° 47’ 13” East, a distance of 26.06 feet;

“	along the arc of a tangent curve to the right with a delta angle of 11° 37’ 21” and a radius of 630.00 feet, a distance of 127.80 feet, the long chord bears South 35° 58’ 32” East, a distance of 127.58 feet;

“	South 02° 06’ 03” West, a distance of 21.05 feet;

“	South 27° 53’ 57” East, a distance of 42.19 feet;

“	South 57° 53’ 57” East, a distance of 22.53 feet;

“	along the arc of a non-tangent curve to the right with a delta angle of 16° 48’ 56” and a radius of 1020.00 feet, a distance of 299.35 feet, the long chord bears South 19° 46’ 06” East, a distance of 298.28 feet;

Thence South 08° 49’ 13” East, a distance of 90.41 feet;

“	South 00°19’ 18” West, a distance of 198.98 feet;

“	South 04°49’ 32” West, a distance of 185.92 feet;

“	along the arc of a tangent curve to the left with a delta angle of 21°38’ 40” and a radius of 1320.00 feet, a distance of 498.65 feet, the long chord bears South 5°59’ 48” East, a distance of 495.69 feet;

“	South 16°49’ 08” East, a distance of 187.05 feet;

“	South 16°12’ 48” East, a distance of 253.37 feet;

“	along the arc of a tangent curve to the left with a delta angle of 11° 52’ 08” and a radius of 670.00 feet, a distance of 138.79 feet, the long chord bears South 22°08’ 51” East, a distance of 138.54 feet to the east line of the SE1/4NW1/4 of Section 24;

“	South 01° 13’ 11” West, along said east line, a distance of 449.56 feet to the Center ¹⁄₄ Corner of Section 24;

“	North 87° 23’ 14” West, along the south line of the SE1/4NW1/4 of Section 24, a distance of 524.39 feet;

“	North 48° 05’ 04” West, a distance of 112.24 feet;

“	North 08° 00’ 04” West, a distance of 28.45 feet;

“	North 81°59’ 56” East, a distance of 159.90 feet;

“	North 57°19’ 29” East, a distance of 117.08 feet;

“	North 39°46’ 18” East, a distance of 130.28 feet;

“	North 19°17’ 00” East, a distance of 142.29 feet;

“	North 38°59’ 37” East, a distance of 131.16 feet;

“	North 72°48’ 15” East, a distance of 43.05 feet;

“	North 16° 12’ 48” West, a distance of 252.44 feet;

“	North 16° 49’ 08” West, a distance of 186.73 feet;

“	along the arc of a tangent curve to the right with a delta angle of 21°38’ 40” and a radius of 1380.00 feet, a distance of 521.32 feet, the long chord bears North 05°59’ 48” West, a distance of 518.23 feet;

“	North 04°49’ 32” East, a distance of 183.56 feet;

“	North 00°19’ 16” East, a distance of 193.10 feet;

“	North 08°57’ 31” West, a distance of 82.93 feet;

“	along the arc of a tangent curve to the left with a delta angle of 15° 48’ 17” and a radius of 960.00 feet, a distance of 264.81 feet, the long chord bears North 19°20’ 12” West, a distance of 263.97 feet;

“	North 57° 53’ 57” West, a distance of 22.42 feet;

“	North 27°53’ 57” West, a distance of 74.35 feet;

“	North 02°06’ 03” East, a distance of 19.30 feet;

“	along the arc of a non-tangent curve to the left with a delta angle of 09°55’ 05” and a radius of 570.00 feet, a distance of 98.67 feet, the long chord bears North 36° 49’ 40” West, a distance of 98.55 feet;

“	North 41°47’ 13” West, a distance of 26.06 feet;

SCHEDULE C-5

“	along the arc of a tangent curve to the left with a delta angle of 40°13’ 56” and a radius of 350.00 feet, a distance of 245.77 feet, the long chord bears North 61°54’ 11” West, a distance of 240.75 feet;

“	North 82° 01’ 09” West, a distance of 225.93 feet;

“	North 75°45’ 06” West, a distance of 90.81 feet;

“	along the arc of a tangent curve to the left with a delta angle of 27°40’ 57” and a radius of 150.00 feet, a distance of 72.47 feet, the long chord bears North 89°35’ 34” West, a distance of 71.77 feet;

“	South 76°33’ 57” West, a distance of 167.60 feet to the west line of the NE1/4NW1/4 of Section 24;

“	North 01°25’ 45” East, along said west line, a distance of 62.08 feet to the True Point of Beginning.

La Plata County, Colorado

Husky

LOT 8-B, HIGHLAND INDUSTRIAL PARK THIRD SUBDIVISION FINAL PLAT, BEING A REPLAT OF A PORTION OF HIGHLAND INDUSTRIAL PARK SECOND SUBDIVISION FINAL PLAT AND BEING A PART OF THE SW 1/4 OF SECTION 2 TOWNSHIP7 NORTH RANGE 68 WEST OF THE SIXTH PRINCIPAL MERIDIAN, TOWN OF AULT, COUNTY OF WELD, STATE OF COLORADO.

Weld County, Colorado

SCHEDULE C-6

SCHEDULE D

This Schedule D covers all right, title and interest, if any, of Public Service Company of Colorado in goods, fixtures or improvements located on the lands described below in this Schedule D, but does not include and is not intended to encumber any fee or leasehold interest in the described lands themselves.

None.

SCHEDULE D-1

EX-5.01 3 d902869dex501.htm EX-5.01 EX-5.01

Exhibit 5.01

Faegre Drinker Biddle & Reath LLP

3200 Wells Fargo Center 1700 Lincoln Street

Denver, Colorado 80203-4532

Phone +1 303 607 3500

Fax +1 303 607 3600

May 15, 2020

Public Service Company of Colorado

1800 Larimer Street, Suite 1100

Denver, Colorado 80202

Re:

$375,000,000 principal amount of the Company’s 2.70% First Mortgage Bonds, Series No. 35 due 2051, and $375,000,000 principal amount of the Company’s 1.90% First Mortgage Bonds, Series No. 36 due 2031

Ladies and Gentlemen:

We have acted as counsel for Public Service Company of Colorado, a Colorado corporation (the “Company”), in connection with the issuance of $375,000,000 principal amount of the Company’s 2.70% First Mortgage Bonds, Series No. 35 due 2051, and $375,000,000 principal amount of the Company’s 1.90% First Mortgage Bonds, Series No. 36 due 2031 (collectively the “Bonds”). The Bonds will be issued pursuant to the Company’s Indenture to U.S. Bank National Association (as successor to Morgan Guaranty Trust Company of New York) dated as of October 1, 1993 (the “Original Indenture”), and Supplemental Indenture No. 31 thereto dated as of May 1, 2020 (the “Supplemental Indenture”). The Original Indenture, as supplemented by the Supplemental Indenture and the previous supplemental indentures described in the Supplemental Indenture, is hereinafter referred to as the “Indenture”. The Bonds will be sold pursuant to the Underwriting Agreement, dated May 8, 2020 (the “Underwriting Agreement”), by and between the Company and CIBC World Markets Corp., J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc., and TD Securities (USA) LLC (collectively, the “Underwriters”).

We have reviewed and relied upon such documents, records, certifications and instruments as we have deemed necessary or appropriate for the purposes of this opinion.

Based on the foregoing, and subject to the assumptions and qualifications noted elsewhere in this opinion, we are of the opinion that the Bonds, when they are executed by the Company and authenticated by the Trustee in accordance with the Indenture and issued and delivered to the Underwriters against payment therefor in accordance with the terms of the Underwriting Agreement, will be legal and binding obligations of the Company, subject to (i) applicable bankruptcy, reorganization, insolvency, moratorium, fraudulent transfer, fraudulent conveyance, voidable preference, receivership and other laws of general application affecting creditors’ rights and the rights of mortgagees and other secured parties generally and state laws which affect the enforcement of certain remedial provisions, (ii) general principles of equity, including without limitation, concepts of materiality, reasonableness, good faith, fair dealing and the possible unavailability of specific performance, injunctive relief or other equitable remedies, whether considered in a proceeding in equity or at law, (iii) public policy considerations that may limit the rights of parties to obtain specific remedies or enforce specific terms, and (iv) governmental authority to limit, delay or prohibit the making of payments outside the United States.

Public Service Company of Colorado

May 15, 2020

Page 2

We have relied as to certain relevant factual matters upon certificates of public officials and certificates of and/or information provided by officers and employees of the Company as to the accuracy of such factual matters without independent verification thereof or other investigation. We have also relied, without investigation, upon the following assumptions: (a) natural persons acting on behalf of the Company have sufficient legal capacity to enter into and perform, on behalf of the Company, the transaction in question or carry out their role in it, (b) each party to any instrument or agreement relevant hereto other than the Company has satisfied those legal requirements that are applicable to it to the extent necessary to make such instrument or agreement enforceable against it, (c) each party to any instrument or agreement relevant hereto other than the Company has complied with all legal requirements pertaining to its status as such status relates to its rights to enforce such instrument or agreement against the Company, (d) each document submitted to us for review is accurate and complete, each such document that is an original is authentic, each such document that is a copy conforms to an authentic original, and all signatures on each such document are genuine, (e) there are no agreements or understandings among the parties, written or oral, and there is no usage of trade or course of prior dealing among the parties that would, in either case, define, supplement or qualify the terms of any instrument or agreement relevant hereto, (f) all statutes, judicial and administrative decisions, and rules and regulations of governmental agencies, constituting the law of any relevant jurisdiction are generally available (i.e., in terms of access and distribution following publication or other release) both to lawyers practicing inside and to lawyers practicing outside such jurisdiction, and are in a format that makes legal research reasonably feasible, and (g) the constitutionality or validity of a relevant statute, rule, regulation or agency action is not in issue unless a published decision in the relevant jurisdiction has specifically addressed but not resolved, or has established, its unconstitutionality or invalidity.

Without limiting any other qualifications set forth herein, the opinions expressed herein are subject to the effect of generally applicable laws that (a) provide for the enforcement of oral waivers or modifications where a material change of position in reliance thereon has occurred or provide that a course of performance may operate as a waiver, (b) limit the enforcement of provisions of instruments or agreements that purport to require waiver of the obligations of good faith, fair dealing, diligence and reasonableness, (c) limit the availability of a remedy under certain circumstances where another remedy has been elected, (d) limit the enforceability of provisions releasing, exculpating or exempting a party from, or requiring indemnification of or contribution to a party for, liability for its own action or inaction, to the extent the action or inaction involves negligence, recklessness, willful misconduct or unlawful conduct, (e) may, where less than all of an instrument or agreement may be unenforceable, limit the enforceability of the balance of the instrument or agreement to circumstances in which the unenforceable portion is not an essential part of the agreed exchange, (f) govern and afford judicial discretion regarding the determination of damages and entitlement to attorneys’ fees and other costs, (g) may permit a party who has materially failed to render or offer performance required by a contract to cure that failure unless either permitting a cure would unreasonably hinder the aggrieved party from making substitute arrangements for performance or it is important under the circumstances to the aggrieved party that performance occur by the date stated in the instrument or agreement, (h) may require mitigation of damages, and (i) provide a time limitation after which a remedy may not be enforced (i.e., statutes of limitation or repose).

Public Service Company of Colorado

May 15, 2020

Page 3

Our opinion herein is limited to the laws of the States of Colorado and New York.

We hereby consent to the filing of this opinion as Exhibit 5.01 to the Current Report on Form 8-K dated the date hereof filed by the Company and incorporated by reference into the Registration Statement on Form S-3, as amended (File No. 333-224333-02) (the “Registration Statement”), filed by the Company to effect the registration of the Bonds under the Securities Act of 1933 (the “Act”) and being named in the Prospectus included therein under the caption “Legal Opinions” with respect to the matters stated therein, without implying or admitting that we are in the category of persons whose consent is required under the Act, or other rules and regulations of the Commission issued thereunder with respect to any part of the Registration Statement, including this exhibit.


Very truly yours,

FAEGRE DRINKER BIDDLE & REATH LLP

By		/s/ David L. Kuosman
		David L. Kuosman, partner

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Document and Entity Information	May 15, 2020
Cover [Abstract]
Entity Registrant Name	PUBLIC SERVICE CO OF COLORADO
Amendment Flag	false
Entity Central Index Key	0000081018
Document Type	8-K
Document Period End Date	May 15, 2020
Entity Incorporation, State or Country Code	CO
Entity File Number	001-3280
Entity Tax Identification Number	84-0296600
Entity Address, Address Line One	1800 Larimer Street
Entity Address, Address Line Two	Suite 1100
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	303
Local Phone Number	571-7511
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false