Subject: Stimulus Financing - Maine Public Utilities Commission Requirements

This is in follow-up to the e-mail just received from Karen Asselin at the Maine Municipal Bond Bank.   A water utility must receive PUC approval for any debt issuance that is for a term of 12 months or longer.  The application is available on our web site (www.maine.gov/mpuc) or at the following link: http://www.maine.gov/mpuc/online/forms.shtml.  The information for securities issuances, including the application, is the fourth item down in the second column. 

 

In order to process your application in the time period required, please ensure to answer all questions as completely as possible.  Specifically, the information requested in Questions 1 and 2, which provides detail on the specific debt being proposed and the related project(s); question 6, which asks whether the project being financed will result in a change in your rates, and question 9, which helps evaluate the utility’s ability to pay for the new loan must be completed in full.  For any question where you may not have the information yet (such as commitment letter from the lender) please indicate when you expect to receive the information.

 

If more than one project is being financed, please check with your bond counsel to see if it is possible to combine the projects into one PUC application for approval. 

 

If you have any questions on the application process, please feel free to contact me.

 

Lucretia A. Smith

Utility Analyst

Maine Public Utilities Commission

18 SHS

Augusta, ME  04330

(207) 287-1383

FAX: (207) 287-1039