OAR 860-027-0035
Applications by a Utility for Authority to Guarantee Indebtedness

(1)

The requirements of this rule will apply to any energy or large telecommunications utility seeking authority under ORS 757.440 (Approval required before utility may guarantee another’s indebtedness) and 759.350 (Limitation on authority of utility to guarantee debt of another). Every applicant shall set forth in its application to the Commission, in the manner and form indicated, the following information which should, to the extent possible, be furnished for each person, firm, or corporation involved:

(a)

The information required by OAR 860-027-0030 (Application by an Energy or Large Telecommunications Utility for Authority to Issue Stocks, Bonds, Notes, or Other Securities)(1)(a) to (g) inclusive;

(b)

A full description of the securities for which applicant proposes to assume obligation or liability as guarantor, endorser, surety or otherwise;

(c)

The amount of other securities of said person, firm or corporation now held, owned or controlled by the applicant;

(d)

A statement as to whether or not any application with respect to the transaction or any part thereof is required to be filed with any federal or other state regulatory body;

(e)

The reasons, in detail, why it is in applicant’s interest to guarantee such securities;

(f)

The reasons, in detail, why it is necessary for applicant to guarantee such securities; and

(g)

The facts relied upon by the applicant to show the assumption is:

(A)

For some lawful object within the applicant’s corporate purposes and compatible with the public interest;

(B)

Necessary or appropriate for or consistent with the applicant’s proper performance of service as a public or telecommunications utility;

(C)

Will not impair its ability to perform that service; and

(D)

Reasonably necessary or required for such purposes.

(2)

Required Exhibits. There shall be filed with the application as part thereof the following exhibits:

(a)

EXHIBIT A. A copy of the applicant’s charter or articles of incorporation with amendments to date;

(b)

EXHIBIT B. A copy of the bylaws with amendments to date;

(c)

EXHIBIT C. Copies of all resolutions of directors authorizing the assumption in respect to which the application is made and, if stockholders’ approval has been obtained, a copy of the stockholders’ resolution should also be furnished;

(d)

EXHIBIT D. A copy of any mortgage, indenture, or other agreement securing any security which it proposes to guarantee; also, a copy of any mortgage, indenture, or other agreement securing applicant’s funded obligations;

(e)

EXHIBIT E. Balance sheets with supporting fixed capital or plant schedules in conformity with the form set forth in the annual report which applicant is required to file with the Commission;

(f)

EXHIBIT F. A statement of all known contingent liabilities, except minor items such as damage claims and similar items involving relatively small amounts at the date of the application;

(g)

EXHIBIT G. Comparative income statements in conformity with the form set forth in the annual report which applicant is required to file with the Commission;

(h)

EXHIBIT H. An analysis of surplus for the period covered by the income statements referred to in Exhibit G; and

(i)

EXHIBIT I. A statement showing the present market value or other basis of determining the value of the securities to be guaranteed.

Source: Rule 860-027-0035 — Applications by a Utility for Authority to Guarantee Indebtedness, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=860-027-0035.

860–027–0000
Applicability of Division 27 860–027–0001
Definitions for Utility Budgets, Finance, Accounting, and Annual Reports 860–027–0005
Utilities Required to File Reports 860–027–0015
New Construction Budget 860–027–0016
Accounting for Director’s Fees 860–027–0020
Form and Filing of Applications 860–027–0025
Applications for Authority to Sell, Lease, Assign, Mortgage, Merge, Consolidate or Otherwise Dispose of or Encumber its Property, or to Acquire Stock, Bonds, or Property of Another Utility 860–027–0030
Application by an Energy or Large Telecommunications Utility for Authority to Issue Stocks, Bonds, Notes, or Other Securities 860–027–0031
When the Commission May Reregulate Financings of Exempt Telecommunications Utilities 860–027–0032
Information Required Concerning Financings of Exempt Large Telecommunications Utilities 860–027–0035
Applications by a Utility for Authority to Guarantee Indebtedness 860–027–0040
Applications for Approval of Transactions Between Affiliated Interests 860–027–0041
Information Required for Utility Goods or Services Provided to Affiliated Interests 860–027–0042
Timeliness of Application Made Under OAR 860-027-0040 and Filings Made Under OAR 860-027-0041 860–027–0043
Application for Waiver of Requirements Under OARs 860-027-0040 and 860-027-0041 860–027–0044
Application for Waiver Requirements by Large Telecommunications Utilities Under OARs 860-027-0040 and 860-027-0041 860–027–0045
Uniform System of Accounts for Electric Utilities — Major and Nonmajor 860–027–0048
Allocation of Costs by an Energy Utility 860–027–0050
Uniform System of Accounts for Large Telecommunications Utilities 860–027–0052
Allocation of Costs by a Large Telecommunications Utility 860–027–0055
Uniform System of Accounts for Gas Utilities — Major and Nonmajor 860–027–0065
Uniform System of Accounts for Steam Heat Utilities — Class A, B, and C 860–027–0070
Annual Report Requirements for Electric, Gas, Steam Heat, and Large Telecommunications Utilities 860–027–0100
Reporting of Affiliated Transactions 860–027–0120
Preservation and Destruction of Records 860–027–0175
Energy Utility Reporting Requirements Relating to Major Shareholders 860–027–0200
Energy Utility Acquisition 860–027–0300
Use of Deferred Accounting by Energy and Large Telecommunications Utilities 860–027–0310
Cost-Effective Conservation Resources 860–027–0350
Depreciation Study Requirements for Energy Utilities 860–027–0400
Integrated Resource Plan Filing, Review, and Update
Last Updated

Jun. 24, 2021

Rule 860-027-0035’s source at or​.us