Bn!nSH COLUMBIA ~\s'r.1 COl...(;A~ '* , '1 "'7<$> UTILITIES COMMISSIO; ~8 ~:( J ' ~ c ~~~~ <: . ~ . ~: . , . ~ \ ~~~·'~~ o </ "" 0- ORDER ~ ,c., NUMBER G-61-87 ~s COtJ\~ PROVINCE OF BRITISH COLOMBIA BRITISH COLUMBIA UTILITIES COMMISSION IN THE MATTER OF the Utilities Commission Act, S.B.C. 1980, c. 60 as amended and IN THE MATTER OF an Application by west Kootenay Power and Light Company, Limited BEFORE: M. Taylor, Chairman; D.B. Kilpatrick, Commissioner; and October 23, 1987 N. Martin, Commissioner o R D E R WHEREAS pursuant to Section 57 of the Utilities Commission Act ("the Act") West Kootenay Power and Light Company, Limited ("WKPL") applied October 13, 1987 for Commission approval of the issuance to OtiliCorp B.C. Ltd. ("OtiliCorp") of 22,000 Common Shares (par value $100) of the unissued capital stock of WKPL at a price of $100 per share; and WHEREAS the Application states that WKPL, in early November, 1987 will be remitting to UtiliCorp B.C. Ltd. a total of $2,193,000 in payment of Common Share dividends declared for the months of March to September, 1987 inclusive, and that UtiliCorp is willing to reinvest those dividends in WKPL on a permanent basis; and WHEREAS the dividends already declared amount to about 44% of expected WKPL earnings in 1987 which accords reasonably with the Commission's June 30, 1987 Decision; and no further Common Share dividends are planned by WKPL for the remainder of the year; and ... /2 ~(KJ~TH j:'LO;J:; 8X S-.J T,-.IE STt;EET \-;"\1:00\/£8 8.C V62 2E1 CA"~I..DA TELEPHO"~ ,&34' &&:)-47DC TE,-EX C"'-:><536 RAPICO~' ~22 [&341 &6J..1102 w·~ ~0:'
WHEREAS WKPL states that the proceeds of this share issue will be used to reduce its bank borrowings; and WHEREAS the Commission is satisfied that the proposed issue is to be made in accordance with every enactment governing the issue of securities. NOW THEREFORE the Commission hereby orders that approval is hereby given under Section 57 of the Utilities Commission Act to the issuance to utiliCorp B.C. Ltd. of 22,000 Common Shares (par value $100) of WKPL at an issue price of $100 per share as specified. DATED at the city of Vancouver, in the Province of /~' British Columbia, this J(} BRlTlSH COLUMBIA UTILITIES COMMISSION 2 ORDER NUMBER G-61-87 day of October, 1987. BY ORDER JI#k Chairman
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