PSC-23-11-00015-P To Enter into a Loan Agreement with the Adirondack Trust Company for up to an Amount of $1,389,500

6/8/11 N.Y. St. Reg. PSC-23-11-00015-P

NEW YORK STATE REGISTER

VOLUME XXXIII, ISSUE 23

June 08, 2011

RULE MAKING ACTIVITIES

PUBLIC SERVICE COMMISSION

PROPOSED RULE MAKING

NO HEARING(S) SCHEDULED

 

I.D No. PSC-23-11-00015-P

To Enter into a Loan Agreement with the Adirondack Trust Company for up to an Amount of $1,389,500

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 a petition filed by Saratoga Water Services Inc. for approval of a loan of $1,389,500 with the Adirondack Trust Company to install a new well and retire an old loan.

Statutory authority:

Public Service Law, section 89-f

Subject:

To enter into a loan agreement with the Adirondack Trust Company for up to an amount of $1,389,500.

Purpose:

To consider allowing Saratoga Water Services Inc. to enter into a loan agreement with the Adirondack Trust Company.

Substance of proposed rule:

The Public Service Commission is considering whether to approve, deny or modify, in whole or in part, a petition by Saratoga Water Services Inc. for approval of a loan agreement with the Adirondack Trust Company. Saratoga Water Services Inc. is also proposing to retire an old loan of $ 619,500 and to install a new well costing $770,000. Saratoga Water Services Inc. wants to issue and sell long-term debt in the amount not to exceed $1,389,500 ($619,500 + $770, 000). The Commission shall consider all other related matters.

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-0246SP1)