R14-2-108. Electric, Natural Gas, or Affiliated Water

Cooperative Streamlined Financing Application Filing Requirements and Process A. Definitions. The definitions contained in R14-2-107 shall apply to this Section. B. New Financing or Refinancing Requests. 1. Thirty days before filing an application to request new financing, a cooperative shall meet with Staff to discuss the financing application. 2. A cooperative shall ensure that its filed financing application includes, at a minimum: a. The information provided to lenders by the cooperative, b. The most recent audited financials for the cooperative, and c. A capital budget or work plan showing how the cooperative proposes to use the funds obtained through the requested financing. 3. A cooperative shall post a notice regarding its financing application, in a form approved by Staff, or a link to such a notice, on the main page of the cooperative’s website. 4. Staff shall issue a Staff report and proposed order regarding a cooperative’s financing application within 75 days after the filing of the financing application. C. Refinancing Requests. 1. Fourteen days before filing an application for refinancing, a cooperative shall meet with Staff to discuss the refinancing application. 2. A cooperative shall ensure that its filed refinancing application includes, at a minimum, the information required under subsection (B)(2). 3. A cooperative shall post a notice regarding its refinancing application, in a form approved by Staff, or a link to such a notice, on the main page of the cooperative’s website. 4. Staff shall issue a Staff report and proposed order regarding a cooperative’s refinancing application within 45 days after the filing of the refinancing application. D. Joint Requests 1. A cooperative may file an application requesting approval of both new financing and refinancing. 2. An application requesting approval of both new financing and refinancing shall be processed under subsection (B).