PSC-09-15-00004-P Refinancing and Issuance of Long-Term Debt Securities

3/4/15 N.Y. St. Reg. PSC-09-15-00004-P

NEW YORK STATE REGISTER

VOLUME XXXVII, ISSUE 9

March 04, 2015

RULE MAKING ACTIVITIES

PUBLIC SERVICE COMMISSION

PROPOSED RULE MAKING

NO HEARING(S) SCHEDULED

 

I.D No. PSC-09-15-00004-P

Refinancing and Issuance of Long-Term Debt Securities

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

Proposed Action:

The Commission is considering the petition of New York American Water Company, Inc. for the authorization to refinance up to $22,600,000 of existing long-term debt and issue up to $45,300,000 of new long-term debt securities through December 31, 2017.

Statutory authority:

Public Service Law, section 89-f

Subject:

Refinancing and issuance of long-term debt securities.

Purpose:

To authorize New York American Water Company, Inc. to refinance up to $22,600,000 and issue up to $45,300,000 of long-term debt.

Substance of proposed rule:

The Public Service Commission is considering whether to approve, deny, or modify, in whole or in part, a petition by New York American Water Company, Inc. to refinance up to $22,600,000 of existing long-term debt and issue up to $45,300,000 of new long-term debt in one or more offerings from time to time, with maturity(s) of no more than 30 years and issued no later than December 31, 2017. The proposed action would allow New York American Water Company, Inc. to restructure existing obligations and manage continual operations.

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.ny.gov/f96dir.htm. For questions, contact:

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

Data, views or arguments may be submitted to:

Kathleen H. Burgess, 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.

(15-W-0045SP1)