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Federal R Ba n k N e w AHI F isc a i row rm Y o r k , A I 'O I H of N.Y. eserve Am n t 01 riNNissn thi ew York fV\ 10045 . ’ I. • N /’ I. ■ •» , ' i X 1 t In m i' S i A i r s Vai 1 1 y A u t h o k i t y July 25, 1972 Results of Bidding for TVA Power Notes To Certain Commercial Banks, Trust Companies, and Dealers in Investment Securities: The following statement was authorized by the Tennessee Valley Authority for issuance today, announcing the auction results of its recent offering of Power Notes: The Tennessee Valley Authority sold at auction today $80 million par value of 126 -day discount notes at an average price of 98 .476 , which results in a rate of discount of 4-354 percent per annum on a 360-day basis. The notes are dated July 2 7 , 1972 and mature on November 30, 1972. Accepted bids ranged from a high price of 98-479 (4-346 percent discount) to a low of 98.472 (4.366 percent discount). Approximately 90 percent of the total amount bid for at the low price was accepted. Total bids received were $585 million, of which $80 million were accepted. Alfred llnyes, Presi do nt.