Arizona Administrative Code
Title 14 - PUBLIC SERVICE CORPORATIONS; CORPORATIONS AND ASSOCIATIONS; SECURITIES REGULATION
Chapter 2 - CORPORATION COMMISSION - FIXED UTILITIES
Article 1 - GENERAL PROVISION
Section R14-2-108 - Electric, Natural Gas, or Affiliated Water Cooperative Streamlined Financing Application Filing Requirements and Process

Universal Citation: AZ Admin Code R 14-2-108

Current through Register Vol. 30, No. 38, September 20, 2024

A. Definitions. The definitions contained in R14-2-107 shall apply to this Section.

B. New Financing or Refinancing Requests.

1. Thirty days before filing an application to request new financing, a cooperative shall meet with Staff to discuss the financing application.

2. A cooperative shall ensure that its filed financing application includes, at a minimum:
a. The information provided to lenders by the cooperative,

b. The most recent audited financials for the cooperative, and

c. A capital budget or work plan showing how the cooperative proposes to use the funds obtained through the requested financing.

3. A cooperative shall post a notice regarding its financing application, in a form approved by Staff, or a link to such a notice, on the main page of the cooperative's website.

4. Staff shall issue a Staff report and proposed order regarding a cooperative's financing application within 75 days after the filing of the financing application.

C. Refinancing Requests.

1. Fourteen days before filing an application for refinancing, a cooperative shall meet with Staff to discuss the refinancing application.

2. A cooperative shall ensure that its filed refinancing application includes, at a minimum, the information required under subsection (B)(2).

3. A cooperative shall post a notice regarding its refinancing application, in a form approved by Staff, or a link to such a notice, on the main page of the cooperative's website.

4. Staff shall issue a Staff report and proposed order regarding a cooperative's refinancing application within 45 days after the filing of the refinancing application.

D. Joint Requests

1. A cooperative may file an application requesting approval of both new financing and refinancing.

2. An application requesting approval of both new financing and refinancing shall be processed under subsection (B).

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