Ariz. Admin. Code § 14-2-108

Current through Register Vol. 30, No. 25, June 21, 2024

Section R14-2-108 - Electric, Natural Gas, or Affiliated Water Cooperative Streamlined Financing Application Filing Requirements and Process

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).

Ariz. Admin. Code § R14-2-108

Adopted by final rulemaking at 24 A.A.R. 2750, effective 11/20/2018.