[§269-162] Applications to issue bonds and authorize green infrastructure fee. (a) In connection with the issuance of bonds, the department may apply to the public utilities commission for one or more financing orders, each of which financing orders authorizes the following:
(1) The imposition, charging, and collection on behalf of the department of the green infrastructure fee, to become effective upon the issuance of the bonds, and the adjustment of the green infrastructure fee on behalf of the department in accordance with an adjustment mechanism requested by the department under this part in amounts sufficient to pay the principal of and interest on bonds and all related financing costs on a timely basis;
(2) The creation of green infrastructure property under the financing order; and
(3) The deposit of the net proceeds of the bonds into the green infrastructure special fund.
(b) The application shall include all of the following:
(1) The principal amount of the bonds proposed to be issued;
(2) An estimate of the date each series of bonds is expected to be issued;
(3) The expected term, not to exceed thirty years, during which term the green infrastructure fee associated with the issuance of each series of bonds is expected to be imposed and collected;
(4) An estimate of the financing costs associated with the issuance of each series of bonds;
(5) An estimate of the amount of the green infrastructure fee revenues necessary to pay principal and interest on the bonds and related financing costs as set forth in the application and the calculation for that estimate, which calculation shall take into account the estimated date or dates of issuance and the estimated principal amount of each series of bonds;
(6) A proposed methodology for allocating the green infrastructure fee among electric utilities and customer classes within each electric utility;
(7) A description of a proposed formulaic adjustment mechanism for the adjustment of the green infrastructure fee to ensure the timely payment of principal and interest on the bonds and related financing costs; and
(8) Any other information required by the public utilities commission. [L 2013, c 211, pt of §3]
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