To Incur Debt and Findings That No Further Review of Proposed Intra-Corporate Transactions Is N...
NY-ADR
2/7/18 N.Y. St. Reg. PSC-06-18-00016-P
NEW YORK STATE REGISTER
VOLUME XL, ISSUE 6
February 07, 2018
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
PROPOSED RULE MAKING
NO HEARING(S) SCHEDULED
I.D No. PSC-06-18-00016-P
To Incur Debt and Findings That No Further Review of Proposed Intra-Corporate Transactions Is Needed
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:
Proposed Action:
The Commission is considering a petition from Fortistar North Tonawanda, Inc. seeking approval to incur debt secured by its assets and a ruling that further review of a corporate reorganization is not needed.
Statutory authority:
Public Service Law, sections 2(12), (13), (21), (22), 5(1)(b), 69, 70, 82 and 83
Subject:
To incur debt and findings that no further review of proposed intra-corporate transactions is needed.
Purpose:
To consider a petition to incur debt and findings that no further review of proposed intra-corporate transactions is needed.
Substance of proposed rule:
The New York State Public Service Commission (Commission) is considering a petition filed by Fortistar North Tonawanda, Inc. (Fortistar) requesting that it be authorized under Public Service Law (PSL) Sections 69 and 82 to incur debt up to a limit of $200 million, including the authority to pledge ownership interests in the jurisdictional assets owned by Fortistar, including an approximately 55 MW cogeneration facility located in North Tonawanda, New York. Fortistar also seeks a declaratory ruling that no further regulatory review is needed under PSL Sections 70 and 83 for an intra-corporate restructuring that would include transfers of ownership interests in Fortistar. The full text of the petition may be reviewed online at the Department of Public Service web page: www.dps.ny.gov. The Commission may adopt, reject, or modify, in whole or in part, the relief proposed and may resolve related matters.
Text of proposed rule and any required statements and analyses may be obtained by filing a Document Request Form (F-96) located on our website http://www.dps.ny.gov/f96dir.htm. For questions, contact:
John Pitucci, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 486-2655, email: [email protected]
Data, views or arguments may be submitted to:
Kathleen H. Burgess, Secretary, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 474-6530, email: [email protected]
Public comment will be received until:
April 8, 2018.
Regulatory Impact Statement, Regulatory Flexibility Analysis, Rural Area Flexibility Analysis and Job Impact Statement
Statements and analyses are not submitted with this notice because the proposed rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
(18-E-0032SP1)
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