11/4/09 N.Y. St. Reg. PSC-29-09-00010-A
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:
Action taken:
On 10/15/09, the PSC adopted an order approving the petition of Orange and Rockland Utilities, Inc. to issue and sell up to a total of $500 million of securities, through December 31, 2013.
Statutory authority:
Public Service Law, section 69
Subject:
Issue and sell securities and other forms of indebtedness.
Purpose:
To approve the issuance and sale of securities and other forms of indebtedness including derivative contracts.
Substance of final rule:
The Commission, on October 15, 2009, adopted an order approving the petition of Orange and Rockland Utilities, Inc. (Company) to issue and sell up to a total of $500 million of securities, through December 31, 2013, of which up to $100 million may be in Company preferred stock, and to enter into multi-year committed credit agreements, in amounts not to exceed $200 million in the aggregate. In addition, the Company is authorized to issue and sell unsecured long-term debt in an amount not to exceed $389 million, for refunding of existing long-term debt, subject to the terms and conditions set forth in the order.
Final rule as compared with last published rule:
No changes.
Text of rule may be obtained from:
Leann Ayer, Public Service Commission, Three Empire State Plaza, Albany, New York 12223, (518) 486-2655, email:
leann_ayer@dps.state.ny.us An IRS employer ID no. or social security no. is required from firms or persons to be billed 25 cents per page. Please use tracking number found on last line of notice in requests.
Assessment of Public Comment
An assessment of public comment is not submitted with this notice because the rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
