PSC-43-11-00013-P Transfer of Issued and Outstanding Capital Stock

10/26/11 N.Y. St. Reg. PSC-43-11-00013-P

NEW YORK STATE REGISTER

VOLUME XXXIII, ISSUE 43

October 26, 2011

RULE MAKING ACTIVITIES

PUBLIC SERVICE COMMISSION

PROPOSED RULE MAKING

NO HEARING(S) SCHEDULED

 

I.D No. PSC-43-11-00013-P

Transfer of Issued and Outstanding Capital Stock

PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:

Proposed Action:

The PSC is considering a Joint Petition of Aqua New York, Inc. and its utility subsidiaries for the sale of 100% of the issued and outstanding stock of Aqua New York, Inc.

Statutory authority:

Public Service Law, sections 4(1), 5(1)(f), 89-c(1), (10) and 89-h

Subject:

Transfer of issued and outstanding capital stock.

Purpose:

Transfer 100% of the issued and outstanding capital stock of Aqua New York, Inc. to American Water Works Company, Inc.

Substance of proposed rule:

Aqua New York, through itself and its utility subsidiaries, serves more than 152,000 residents in four counties across New York State in Nassau, Westchester, Ulster and Washington Counties. Aqua New York's companies include: New York Water Service Corporation, Aqua New York of Sea Cliff. In addition, Aqua New York directly serves rate districts comprising the former Cambridge Water Works Company, Dykeer Water Company, Kingsvale Water Company, Waccabuc Water Works, Inc., and Wild Oaks Water Company, Inc.

On September 1, 2011, a joint petition was filed by Aqua Utilities, Inc., Aqua New York, Inc., and American Water Works Company, Inc., for approval, pursuant to Public Service Law § 89-h, of the sale of 100% of the issued and outstanding stock of Aqua New York, Inc., by Aqua Utilities, Inc., to American Water Works Company. The Commission may approve or reject, in whole or in part, or modify the company’s request.

Text of proposed rule and any required statements and analyses may be obtained by filing a Document Request Form (F-96) located on our website http://www.dps.state.ny.us/f96dir.htm. For questions, contact:

Leann Ayer, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, [phone], email: [e-mail]

Data, views or arguments may be submitted to:

Jaclyn A. Brilling, Secretary, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, [phone], email: [e-mail]

Public comment will be received until:

45 days after publication of this notice.

Regulatory Impact Statement, Regulatory Flexibility Analysis, Rural Area Flexibility Analysis and Job Impact Statement

Statements and analyses are not submitted with this notice because the proposed rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.

(11-W-0472SP1)