PSC-19-10-00014-P Issuance of One Share of Preferred Stock ("Golden Share") to GSS Holdings, Inc. and Amend It's Certificates of Incorporation

5/12/10 N.Y. St. Reg. PSC-19-10-00014-P

NEW YORK STATE REGISTER

VOLUME XXXII, ISSUE 19

May 12, 2010

RULE MAKING ACTIVITIES

PUBLIC SERVICE COMMISSION

PROPOSED RULE MAKING

NO HEARING(S) SCHEDULED

 

I.D No. PSC-19-10-00014-P

Issuance of One Share of Preferred Stock ("Golden Share") to GSS Holdings, Inc. and Amend It's Certificates of Incorporation

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 whether to approve or reject, in whole or in part, the petition of Niagara Mohawk Power Corporation for authority to issue one share of preferred stock and to approve an amendment to it's Certificates of Incorporation.

Statutory authority:

Public Service Law, section 69

Subject:

Issuance of one share of preferred stock ("Golden Share") to GSS Holdings, Inc. and amend it's Certificates of Incorporation.

Purpose:

To consider petition for authority to issue one share of preferred stock and to amend it's Certificate of Incorporation.

Substance of proposed rule:

The Commission is considering whether to approve or reject, in whole or in part, a petition of Niagara Mohawk Power Corporation (Niagara Mohawk) requesting authority pursuant to Public Service Law, Section 69 to issue one share of preferred stock ("Golden Share") to GSS Holdings, Inc. and to amend its Certificates of Incorporation. The purpose of the request is to limit Niagara Mohawk’s right to commence any voluntary bankruptcy, liquidation, receivership, or similar proceedings without the consent of the holder of the Golden Share.

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.

(01-M-0075SP47)