B R IT I S H C O L U M B I A U T I L IT I E S C O M M I S S I O N O R D ER a N U M B E R G-23-96 SIXTH FLOOR, 900 HOWE STREET, BOX 250 TELEPHONE: (604) 660-4700 VANCOUVER, B.C. V6Z 2N3 BC TOLL FREE: 1-800-663-1385 CANADA FACSIMILE: (604) 660-1102 IN THE MATTER OF the Utilities Commission Act, S.B.C. 1980, c. 60, as amended and An Application by West Kootenay Power Ltd. for Approval to Issue Series H Debentures BEFORE: M.K. Jaccard, Chairperson; and ) L.R. Barr, Deputy Chairperson ) February 29, 1996 O R D E R WHEREAS: A. On JanuaryÊ5, 1996 West Kootenay Power Ltd. (ÒWKPÓ) applied, pursuant to SectionÊ57 of the Utilities Commission Act (Òthe ActÓ), for Commission approval to issue new debentures, SeriesÊH, in the amount of $25Êmillion at an interest rate of 8.77 percent and a term of 20Êyears; and B. On JanuaryÊ11, 1996 the Commission issued Letter No.ÊL-1-96 approving in principle the debenture issue; and C. On JanuaryÊ23, 1996 WKP submitted a certified copy of a Resolution of the Board of Directors approving the Series H Debenture issue and requested the Commission give final approval to issue the $25Êmillion Series H Debentures; and D. On FebruaryÊ22, 1996 WKP's solicitors provided an executed copy of the Debenture; and E. The Commission has reviewed the Application and supporting material and approves the terms thereof. NOW THEREFORE the Commission approves for WKP, pursuant to Section 57 of the Act, the following: 1. The authorization to issue Series H Debentures in the amount of $25Êmillion at an interest rate of 8.77Êpercent with a term of 20 years. 2. The Commission approval given in No.Ê1 above is conditional upon WKP providing to the holders of the Series H Debentures, at the time of closing, an undertaking not to issue any additional debentures without providing the holders of SeriesÊH a guarantee of UtiliCorp United Inc., parent of WKP. DATED at the City of Vancouver, in the Province of British Columbia, this ÊÊÊÊ29thÊÊÊÊday of February, 1996. BY ORDER Original signed by: Dr.ÊMark K. Jaccard Chairperson
You are being directed to the most recent version of the statute which may not be the version considered at the time of the judgment.