20031031Decision Memo.pdf

DECISION MEMORANDUM
TO:
FROM:
COMMISSIONER KJELLANDER
CO MMISSI 0 NER SMITH
COMMISSIONER HANSEN
COMMISSION SECRETARY
COMMISSION STAFF
WORKING FILE
TERRI CARLOCK
DATE:OCTOBER 31,2003
SUBJECT:ALBION TELEPHONE COMPANY'S REQUEST FOR
AMENDMENT TO DEBT AUTHORITY OF $15 MILLION; CASE
NO. ALB-02-
RECO MMEND:APPROVAL
Albion Telephone requests an amendment to its authority to borrow not more than $15
million from the Rural Telephone Utilities Service (RUS), Order No. 29058. RUS sent a loan
verification letter dated October 21 2003 to Albion for a hardship loan from RUS in the amount
of $7 500 000 and concurrent loans from RUS of $4 046 000 and from the Rural Telephone Bank
of$2 355 150. The aggregate loan amounts of$13 901 150 are within the existing authority but
the Rural Telephone Bank loan was not anticipated at the time of the original Application and
Order. Order No. 29058 needs to be amended to allow issuance by the Rural Telephone Bank
along with the Rural Telephone Utilities Service. The other terms and conditions will not be
changed.
STAFF RECOMMENDATION
Staff recommends Order No. 29058 be amended to allow issuance by the Rural
Telephone Bank along with the Rural Telephone Utilities Service.
COMMISSION DECISION
Should Order No. 29058 be amended to allow issuance by the Rural Telephone Bank
along with the Rural Telephone Utilities Service?
1nm lMl()CR
Terri Carlock
udmemos/TC/telecom/alb-02-amend 11-2003
DECISION MEMORANDUM OCTOBER 31 , 2003