EX-25.1 5 c64550_ex25-1.htm

Exhibit 25.1



SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM T-1

STATEMENT OF ELIGIBILITY UNDER
THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
Check if an Application to Determine Eligibility of
a Trustee Pursuant to Section 305(b)(2)


U.S. BANK NATIONAL ASSOCIATION
(Exact name of Trustee as specified in its charter)

31-0841368
I.R.S. Employer Identification No.

 

 

800 Nicollet Mall
Minneapolis, Minnesota

55402



(Address of principal executive offices)

(Zip Code)

Yvonne Siira
U.S. Bank National Association
1555 North RiverCenter Drive, Suite 203
Milwaukee, WI 53212
(414) 905-5010
(Name, address and telephone number of agent for service)

Wisconsin Electric Power Company
(Issuer with respect to the Securities)

 

 

Wisconsin

39-0476280



(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

 

 

231 West Michigan Street
P.O. Box 2046
Milwaukee, Wisconsin

53201



(Address of Principal Executive Offices)

(Zip Code)

Debt Securities
(Title of the Indenture Securities)


FORM T-1

 

 

 

 

Item 1.

GENERAL INFORMATION. Furnish the following information as to the Trustee.

 

 

 

 

 

a)

Name and address of each examining or supervising authority to which it is subject.

 

 

 

Comptroller of the Currency

 

 

 

Washington, D.C.

 

 

 

 

 

b)

Whether it is authorized to exercise corporate trust powers.

 

 

 

Yes

 

 

 

 

Item 2.

AFFILIATIONS WITH OBLIGOR. If the obligor is an affiliate of the Trustee, describe each such affiliation.

 

 

None

 

 

 

 

 

Items 3-15

Items 3-15 are not applicable because to the best of the Trustee’s knowledge, the obligor is not in default under any Indenture for which the Trustee acts as Trustee.

 

 

 

 

Item 16.

LIST OF EXHIBITS: List below all exhibits filed as a part of this statement of eligibility and qualification.

 

 

 

 

 

1.

A copy of the Articles of Association of the Trustee.*

 

 

 

 

 

2.

A copy of the certificate of authority of the Trustee to commence business, attached as Exhibit 2.

 

 

 

 

 

3.

A copy of the certificate of authority of the Trustee to exercise corporate trust powers, attached as Exhibit 3.

 

 

 

 

 

4.

A copy of the existing bylaws of the Trustee.**

 

 

 

 

 

5.

A copy of each Indenture referred to in Item 4. Not applicable.

 

 

 

 

 

6.

The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939, attached as Exhibit 6.

 

 

 

 

 

7.

Report of Condition of the Trustee as of December 31, 2010 published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7.


 

 

 

* Incorporated by reference to Exhibit 25.1 to Amendment No. 2 to registration statement on S-4, Registration Number 333-128217 filed on November 15, 2005.

 

** Incorporated by reference to Exhibit 25.1 to registration statement on S-4, Registration Number 333-166527 filed on May 5, 2010.

2


SIGNATURE

          Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the Trustee, U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Milwaukee, Wisconsin on the 17th of February, 2011.

 

 

 

 

 

By:

/s/ Yvonne Siira

 

 

 


 

 

 

Yvonne Siira

 

 

 

Vice President

 

3


Exhibit 2

 

 

(LOGO)

 

 



 

Comptroller of the Currency

 

Administrator of National Banks



 

Washington, DC 20219


 

 

CERTIFICATE OF CORPORATE EXISTENCE

 

 

 

I, John Walsh, Acting Comptroller of the Currency, do hereby certify that:

 

 

 

1. The Comptroller of the Currency, pursuant to Revised Statutes 324, et seq., as amended, 12 U.S.C. 1, et seq., as amended, has possession, custody and control of all records pertaining to the chartering, regulation and supervision of all National Banking Associations.

 

 

 

2. “U.S. Bank National Association,” Cincinnati, Ohio, (Charter No. 24), is a National Banking Association formed under the laws of the United States and is authorized thereunder to transact the business of banking on the date of this Certificate.


 

 

 

 

 

 

(STAMP)

 

 

IN TESTIMONY WHERE OF, I have hereunto subscribed my name and caused my seal of office to be affixed to these presents at the Treasury Department, in the City of Washington and District of Columbia, this September 9, 2010.

 

 

 

 

 

 

-s- John Walsh

 

 


 

 

 

 

 

 

 

 

Acting Comptroller of the Currency

4


Exhibit 3

 

 

(LOGO)

 

 



 

Comptroller of the Currency

 

Administrator of National Banks



 

Washington, DC 20219


 

 

CERTIFICATE OF FIDUCIARY POWERS

 

 

 

I, John Walsh, Acting Comptroller of the Currency, do hereby certify that:

 

 

 

1. The Comptroller of the Currency, pursuant to Revised Statutes 324, et seq., as amended, 12 U.S.C. 1, et seq., as amended, has possession, custody and control of all records pertaining to the chartering, regulation and supervision of all National Banking Associations.

 

 

 

2. “U.S. Bank National Association,” Cincinnati, Ohio, (Charter No. 24), was granted, under the hand and seal of the Comptroller, the right to act in all fiduciary capacities authorized under the provisions of the Act of Congress approved September 28, 1962, 76 Stat.668, 12 U.S.C. 92 a, and that the authority so granted remains in full force and effect on the date of this Certificate.


 

 

 

 

 

 

(STAMP)

 

 

IN TESTIMONY WHERE OF, I have hereunto subscribed my name and caused my seal of office to be affixed to these presents at the Treasury Department, in the City of Washington and District of Columbia, this September 9, 2010.

 

 

 

 

 

 

-s- John Walsh

 

 


 

 

 

 

 

 

 

 

Acting Comptroller of the Currency

5


Exhibit 6

CONSENT

          In accordance with Section 321(b) of the Trust Indenture Act of 1939, the undersigned, U.S. BANK NATIONAL ASSOCIATION hereby consents that reports of examination of the undersigned by Federal, State, Territorial or District authorities may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.

Dated: February 17, 2011

 

 

 

 

 

By:

/s/ Yvonne Siira

 

 

 


 

 

 

Yvonne Siira

 

 

 

Vice President

 

6


Exhibit 7
U.S. Bank National Association
Statement of Financial Condition
As of 12/31/2010

($000’s)

 

 

 

 

 

 

 

12/31/2010

 

 

 


 

Assets

 

 

 

 

Cash and Balances Due From Depository Institutions

 

$

14,487,388

 

Securities

 

 

51,308,254

 

Federal Funds

 

 

4,252,675

 

Loans & Lease Financing Receivables

 

 

191,819,118

 

Fixed Assets

 

 

5,282,543

 

Intangible Assets

 

 

13,055,167

 

Other Assets

 

 

22,054,399

 

 

 



 

Total Assets

 

$

302,259,544

 

 

 

 

 

 

Liabilities

 

 

 

 

Deposits

 

$

211,417,189

 

Fed Funds

 

 

9,951,510

 

Treasury Demand Notes

 

 

0

 

Trading Liabilities

 

 

524,005

 

Other Borrowed Money

 

 

33,939,855

 

Acceptances

 

 

0

 

Subordinated Notes and Debentures

 

 

7,760,721

 

Other Liabilities

 

 

7,839,191

 

 

 



 

Total Liabilities

 

$

271,432,471

 

 

 

 

 

 

Equity

 

 

 

 

Minority Interest in Subsidiaries

 

$

1,736,480

 

Common and Preferred Stock

 

 

18,200

 

Surplus

 

 

14,136,872

 

Undivided Profits

 

 

14,935,521

 

 

 



 

Total Equity Capital

 

$

30,827,073

 

 

 

 

 

 

Total Liabilities and Equity Capital

 

$

302,259,544

 

7