OAR 860-036-2120
Application to Dispose of or Acquire Property
(1)
Water utilities must obtain Commission approval to sell, lease, assign, or otherwise dispose of the whole of the property of such necessary or useful in performance of its duties, or any part thereof with a value in excess of $10,000.(2)
Rate-regulated water utilities must obtain Commission approval to directly or indirectly purchase or acquire of any stocks, bonds, or utility property of any other public utility valued in excess of $10,000.(3)
A water utility or the other party to these transactions must request authorization using the application form available at http://www.puc.state.or.us/Pages/water/forms_notices/applications.aspx.(4)
No less than 60 calendar days prior to the closing date of the transaction, the water utility must provide a separate written notice to customers with a copy to the Consumer Services Section. In addition, the notice must be posted in the utility’s office and on its website, if available. The notice must include:(a)
The information required by OAR 860-036-1100 (Information for Applicants and Customers)(2);(b)
The purpose of notice;(c)
The proposed closing date of the transaction;(d)
The proposed effective date of sale (minimum of 60-calendar days);(e)
The name, address, and telephone number of the potential buyer;(f)
The reasons for sale;(g)
How the sale will affect customers; and(h)
The statement, “The property transaction being proposed by the water utility is under review by the Public Utility Commission of Oregon. For more information about the filing or to follow the regulatory process of the Commission’s review check the Commission’s website at www.puc.state.or.us or contact the Consumer Services Section at 503-378-6600; 1-800-522-2404; or TTY 711.”
Source:
Rule 860-036-2120 — Application to Dispose of or Acquire Property, https://secure.sos.state.or.us/oard/view.action?ruleNumber=860-036-2120.