CenterPoint Energy Transition Bond CO II, LLC - FORM 8-K - EX-99.1 - SEMIANNUAL SERVICER'S CERTIFICATE - February 3, 2012

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Exhibit 99.1

Semiannual Servicer’s Certificate

CenterPoint Energy Transition Bond Company II, LLC

$1,851,000,000 Series A Transition Bonds

Pursuant to Section 6 of Annex 1 to the Transition Property Servicing Agreement (the “Agreement”), dated as of December 16, 2005, between

CenterPoint Energy Houston Electric, LLC, as Servicer, and CenterPoint Energy Transition Bond Company II, LLC, as Issuer,

the Servicer does hereby certify as follows:

Capitalized terms used in this Semiannual Servicer’s Certificate have their respective meanings as

set forth in the Agreement. References herein to certain sections and subsections are references

to the respective sections and subsections of the Agreement.

Collection Periods: July 29, 2011 through January 30, 2012

Payment Date: February 1, 2012

Today's Date: January 30, 2012

1. Collections Allocable and Aggregate Amounts Available for Current Payment Date:

  i.    Remittances for the July 29 through 31, 2011 Collection Period      684,396.57      
  ii.    Remittances for the August 1 through 31, 2011 Collection Period      21,962,973.26      
  iii.    Remittances for the September 1 through 30, 2011 Collection Period      22,848,119.85      
  iv.    Remittances for the October 1 through 31, 2011 Collection Period      21,165,902.79      
  v.    Remittances for the November 1 through 30, 2011 Collection Period      19,240,259.98      
  vi.    Remittances for the December 1 through 31, 2011 Collection Period      14,333,682.86      
  vii.    Remittances for the January 1 through 30, 2012 Collection Period      13,092,241.44      
  viii.    Net Earnings on Collection Account         [through 12/31/11 ] 
    

General Subaccount

      23,377.60      
    

Capital Subaccount

      3,548.89      
    

Excess Funds Subaccount

      3,551.73      
       

 

 

     
  ix.    General Subaccount Balance (sum of i through viii above)      113,358,054.97      
       

 

 

     
  x.    Excess Funds Subaccount Balance as of Prior Payment Date      9,531,486.69      
  xi.    Capital Subaccount Balance as of Prior Payment Date      9,255,000.00      
       

 

 

     
  xii.    Collection Account Balance (sum of ix through xi above)      132,144,541.66      
       

 

 

     

 

2. Outstanding Amounts as of Prior Payment Date:

  

  i.    Tranche A-1 Principal Balance      0.00      
  ii.    Tranche A-2 Principal Balance      88,537,461.00      
  iii.    Tranche A-3 Principal Balance      252,000,000.00      
  iv.    Tranche A-4 Principal Balance      519,000,000.00      
  v.    Tranche A-5 Principal Balance      462,000,000.00      
       

 

 

     
  vi.    Aggregate Principal Balance of all Series A Transition Bonds      1,321,537,461.00      
       

 

 

     

 

3. Required Funding/Payments as of Current Payment Date:

  

              Projected         
              Principal      Semiannual  
        

Series A Principal

    Balance      Principal Due  
  i.    Tranche A-1      0.00         0.00   
  ii.    Tranche A-2      16,503,845.00         72,033,616.00   
  iii.    Tranche A-3      252,000,000.00         0.00   
  iv.    Tranche A-4      519,000,000.00         0.00   
  v.    Tranche A-5      462,000,000.00         0.00   
       

 

 

     

 

 

  
  vi.    For all Series A Transition Bonds      1,249,503,845.00         72,033,616.00   
       

 

 

     

 

 

  

 

              Transition     Days in         
              Bond     Interest         
              Interest Rate     Period (1)      Interest Due  
  vii.    Required Tranche A-1 Interest      4.840 %      180         0.00   
  viii.    Required Tranche A-2 Interest      4.970 %      180         2,200,155.91   
  ix.    Required Tranche A-3 Interest      5.090 %      180         6,413,400.00   
  x.    Required Tranche A-4 Interest      5.170 %      180         13,416,150.00   
  xi.    Required Tranche A-5 Interest      5.302 %      180         12,247,620.00   
     (1) On 30/360 Day basis.        

 

              Required Level     Funding
Required		  
 

xii.

   

Capital Subaccount

      9,255,000.00        0.00   
4. Allocation of Remittances as of Current Payment Date Pursuant to Section 8.02(d) of Indenture:   
 

i.

   

Trustee Fees and Expenses

      0.00     
 

ii.

   

Servicing Fee

      462,750.00 (1)   
 

iii.

   

Administration Fee and Independent Managers Fee

      52,500.00 (2)   
 

iv.

   

Operating Expenses

      67,909.33 (3)   
 

v.

   

Semiannual Interest (including any past-due Semiannual Interest for prior periods)

     
        

Series A

    Aggregate     Per 1,000 of
Original
Principal Amount		  
    

1. Tranche A-1 Interest Payment

      0.00        0.00   
    

2. Tranche A-2 Interest Payment

      2,200,155.91        5.98   
    

3. Tranche A-3 Interest Payment

      6,413,400.00        25.45   
    

4. Tranche A-4 Interest Payment

      13,416,150.00        25.85   
    

5. Tranche A-5 Interest Payment

      12,247,620.00        26.51   
  vi.    Principal Due and Payable as a result of (A) Event of Default or (B) on Final Maturity Date     
        

Series A

    Aggregate     Per 1,000 of
Original
Principal Amount		  
    

1. Tranche A-1 Principal Payment

      0.00        0.00   
    

2. Tranche A-2 Principal Payment

      0.00        0.00   
    

3. Tranche A-3 Principal Payment

      0.00        0.00   
    

4. Tranche A-4 Principal Payment

      0.00        0.00   
    

5. Tranche A-5 Principal Payment

      0.00        0.00   
    

(C) Principal Scheduled to be Paid on Current Payment Date

     
        

Series A

    Aggregate     Per 1,000 of
Original
Principal Amount		  
    

1. Tranche A-1 Principal Payment

      0.00        0.00   
    

2. Tranche A-2 Principal Payment

      72,033,616.00        195.74   
    

3. Tranche A-3 Principal Payment

      0.00        0.00   
    

4. Tranche A-4 Principal Payment

      0.00        0.00   
    

5. Tranche A-5 Principal Payment

      0.00        0.00   
 

vii.

   

Amounts Payable to Credit Enhancement Providers (if applicable)

      N/A     
 

viii.

   

Operating Expenses not Paid under Clause (iv) above

      0.00     
 

ix.

   

Funding of Capital Subaccount

      0.00     
 

x.

   

Net Earnings in Capital Subaccount Released to Issuer

      3,548.89     
 

xi.

   

Deposit to Excess Funds Subaccount

      6,460,404.84     
 

xii.

   

Released to Issuer upon Series Retirement: Collection Account

      0.00     
       

 

 

    
 

xiii.

   

Aggregate Remittances as of Current Payment Date

      113,358,054.97     
       

 

 

    

 

(1) Servicing fee: $1,851,000,000 x .05% x 180/360 = $462,750.00
(2) Administration fee: $100,000 x 180/360 = $50,000.00; Independent Managers fee: $2,500.00
(3) Reimbursement to Administrator for fees/expenses paid to outside legal counsel ($5,790.36), independent public accountant ($21,000.00), printer ($795.55), rating agencies ($17,500.00) and L/C issuing bank ($22,823.42)

5. Subaccount Withdrawals as of Current Payment Date

    (if applicable, pursuant to Section 8.02(d) of Indenture):

 

 

i.

   

Excess Funds Subaccount (available for 4.i. through 4.ix.)

      0.00   
 

ii.

   

Capital Subaccount (available for 4.i. through 4.viii.)

      0.00   
       

 

 

  
 

iii.

   

Total Withdrawals

      0.00   
       

 

 

  

6. Outstanding Amounts and Collection Account Balance as of Current Payment Date

(after giving effect to payments to be made on such Payment Date):

 

        

Series A

       
 

i.

   

Tranche A-1 Principal Balance

      0.00   
 

ii.

   

Tranche A-2 Principal Balance

      16,503,845.00   
 

iii.

   

Tranche A-3 Principal Balance

      252,000,000.00   
 

iv.

   

Tranche A-4 Principal Balance

      519,000,000.00   
 

v.

   

Tranche A-5 Principal Balance

      462,000,000.00   
       

 

 

  
 

vi.

   

Aggregate Principal Balance for all Series A Transition Bonds

      1,249,503,845.00   
       

 

 

  
 

vii.

   

Excess Funds Subaccount Balance

      15,991,891.53   
 

viii.

   

Capital Subaccount Balance

      9,255,000.00   
       

 

 

  
 

ix.

   

Aggregate Collection Account Balance

      25,246,891.53   
       

 

 

  

7. Shortfalls In Interest and Principal Payments as of Current Payment Date

(after giving effect to payments to be made on such Payment Date):

 

 

i.

   

Semiannual Interest

   
        

Series A

       
    

1. Tranche A-1 Bond Interest Payment

      0.00   
    

2. Tranche A-2 Bond Interest Payment

      0.00   
    

3. Tranche A-3 Bond Interest Payment

      0.00   
    

4. Tranche A-4 Bond Interest Payment

      0.00   
    

5. Tranche A-5 Bond Interest Payment

      0.00   
 

ii.

   

Semiannual Principal

   
        

Series A

       
    

1. Tranche A-1 Principal Payment

      0.00   
    

2. Tranche A-2 Principal Payment

      0.00   
    

3. Tranche A-3 Principal Payment

      0.00   
    

4. Tranche A-4 Principal Payment

      0.00   
    

5. Tranche A-5 Principal Payment

      0.00   

8. Shortfall in Required Subaccount Level as of Current Payment Date

(after giving effect to payments to be made on such Payment Date):

 

 

i.

   

Capital Subaccount

      0.00   

IN WITNESS HEREOF, the undersigned has duly executed and delivered this

Semiannual Servicer's Certificate this 30th day of January, 2012.

CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer

 

by:   /s/ Linda Geiger
 

 

  Linda Geiger
  Assistant Treasurer