FERC APPROVES LEASE-LEASEBACK CONDITIONS REQUESTED BY TENNESSEE TO EXECUTE PAYMENT-IN-LIEU-OF-TAXES SETTLEMENT WITH NEW YORK STATE AGENCY

摘要

On December 28,2007 FERC issued a certificate authorizing Tennessee Gas Pipeline Co.(CP08-110) to enter into a Payment-in-Lieu-of-Taxes (PILOT) transaction involving Tennessee and the Schoharie County Industrial Development Agency (Agency).Among other things,the transaction involves the transfer to the Agency,by lease of,a passive interest in certain Tennessee property and jurisdictional pipeline facilities located in Schoharie County,N.Y.,as well as the lease of the property and facilities back to Tennessee by the Agency.