20240104Notice_of_Continuance_Order_No_36054.pdf

NOTICE OF CONTINUANCE
ORDER NO. 36054 1
Office of the Secretary
Service Date
January 4, 2024
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION

IN THE MATTER OF CDS STONERIDGE
UTILITIES, LLC’S APPLICATION FOR
AUTHORIZATION TO BORROW FUNDS
FROM RELATED ENTITIES OR MAKE
ADDITIONAL CAPITAL CONTRIBUTIONS
TO COVER OPERATING LOSSES
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CASE NO. SWS-W-23-03

NOTICE OF
CONTINUANCE

ORDER NO. 36054

On December 15, 2023, CDS Stoneridge Utilities, LLC (“Company”) filed an application
seeking approval from the Idaho Public Utilities Commission (“Commission”) to incur
$980,000.00 of debt (“Application”). The Company stated that this debt would be borrowed from
“Esprit Enterprises, LLC and/or JD’s Resort.” Application at 1. The Company stated that these
companies are both related to it and share the same ownership.
The Company noted that Commission Staff (“Staff”) had informed it of the default
statutory 30-day window relevant for the processing of this case. However, the Company requested
that an order approving the Company’s Application be issued by February 15, 2024, rather than
January 15, 2024.
At the Commission’s January 2, 2024, Decision Meeting, Staff recommended the
Commission issue an order to extend the statutory 30-day disposal period until the Company’s
requested date of February 15, 2024.
In accordance with Idaho Code § 61-904 and Staff’s recommendation, the Commission
now issues this Notice of Continuance extending the 30-day window for the disposal of this matter
until February 15, 2024.
COMMISSION DISCUSSION AND FINDINGS
The Commission has the authority to extend the default 30-day window for the resolution
of this matter if the Commission finds good cause necessitating such a continuance. Idaho Code §
61-904.
Staff noted that the proposed lending entities in this case are both related to the Company
and share the same ownership. Accordingly, Staff indicated additional time was needed to fully
analyze the facts of this case to ensure that the appropriate recommendation can be made for a
potential transaction between related entities.
NOTICE OF CONTINUANCE
ORDER NO. 36054 2
While the Commission is not bound by the Company’s request or Staff’s recommendation,
the Commission can take note when all parties in a matter agree on certain issues. In this case, the
Company noted it had been advised by Staff of “the prescribed 30-day time period for ‘Security
Issuance Review’ under Idaho State code and regulations.” Application at 1. Nonetheless, the
Company requested a Commission order “approving [the] issuance of these securities on or before
[February 15, 2024].” Id. After reviewing the Company’s request and Staff’s subsequent
recommendation, the Commission finds that good cause necessitates a continuance of this matter.
Therefore, the Commission orders that this matter be continued—with a final order being
published by February 15, 2024.
O R D E R
IT IS HEREBY ORDERED that the 30-day window for the resolution of this matter is
hereby continued in accordance with Idaho Code § 61-904; a final order in this case shall be
published on or before February 15, 2024.
IT IS FURTHER ORDERED that parties comply with Order No. 35375, issued April 21,
2022. Generally, all pleadings should be filed with the Commission electronically and will be
deemed timely filed when received by the Commission Secretary. See Rule 14.02. Service between
parties should continue to be accomplished electronically when possible. However, voluminous
discovery-related documents may be filed and served on CD-ROM or a USB flash drive.
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NOTICE OF CONTINUANCE
ORDER NO. 36054 3

DONE by Order of the Idaho Public Utilities Commission at Boise, Idaho this 4th day of
January 2024.

__________________________________________
ERIC ANDERSON, PRESIDENT

__________________________________________
JOHN R. HAMMOND JR., COMMISSIONER

__________________________________________
EDWARD LODGE, COMMISSIONER

ATTEST:

Monica Barrios-Sanchez
Interim Commission Secretary

I:\Legal\WATER\SWS-W-23-03_securities\SWSW2303_Cont_md.docx