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HomeMy WebLinkAbout20031031Decision Memo.pdfDECISION 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