20060728Application.pdf

FALLS WATER
COMPANY
1770 Sabin Dr, Idaho Falls, Idaho 83406-6747
Website: www.faliswater.com
Tel.: [phone]
Fax: [phone]
July 28, 2006
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Idaho Public Utilities Commission
O. Box 82720
Boise, Idaho 83720-0074
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ATTENTION COMMISSION SECRETARY AND HEAD LEGAL SECRETARY
Falls Water Company Inc. requests that the Commission issue an Order approving
issuance of these securities on or before August 25 2006.
Enclosed with this cover letter is the Company s Application for approval to incur debt of
200 000 through the State Drinking Water Revolving Fund. Also enclosed is our
check to the Commission in the amount of $345.00 for payment of the filing fees.
Sincerely,
K. Scott Bruce
General Manager
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K. Scott Bruce
Falls Water Company, Inc.
1770 Sabin Dr.
Idaho Falls, ill 83406
Tel. [phone]
Fax [phone]
E-mail: scotti ~fallswater.com
Representative for Falls Water Company, Inc.
RECE\VED
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IDAHO PUBLIC
UTIL\TIES
COMMISSION
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION
IN THE MATTER OF THE APPLICATION)
OFFALLSWATERCOMPANY INc.
FOR AUTHORITY TO INCUR DEBT
CASE NO. FLS-O6-
APPLICATION
FALLS WATER COMPANY' INe. (Company or Applicant) is an Idaho
Corporation that serves potable water to areas in Bonneville County, Idaho. The
Company serves residential and commercial customers within in its service area located
north of the City of Ammon and northeast of the City ofIdaho Falls.
Application is made to the Commission to authorize Falls Water Company, Inc.
to incur debt through the State Drinking Water Revolving Loan Account administered
through the Idaho Department of Environrnental Quality (DEQ). Application has been
made to DEQ for a loan in the amount of $1 200 000. Terms of the loan will include an
annual interest rate of3.25% for a period of twenty (20) years with semiannual payments
of interest and principal in the amount of $41 033.67. In addition, the Company will be
required to establish within five (5) years of the start of the loan, a reserve account
(prepayment) equal to one (1) years payment obligations. Attached Exhibit No.1 shows
the loan amortization schedule that will commence after the loan is closed. The loan will
not be closed until the project for which the loan is required is completed in
approximately one (1) year.
The purpose of the loan is to purchase land, construct a new well, well house and
purchase the necessary water rights for the well. This new well is necessary to correct
low pressure and system capacity deficiencies in the Company s system. Attached
Exhibit No.2 is a six (6) page exhibit composed of correspondence from our engineering
consultant Schiess & Associates regarding the results of a water model that was run on
the water system in 2004. As shown in that exhibit, it is essential that the Company add
new water supply capacity to its system.
Page 1 of Exhibit No.3 attached to this application is our engineers estimated
costs for completing this project. As shown on that exhibit, the total estimated cost
exceeds the amount of the DEQ loan request. The Company has been collecting
Contributions in Aid of Construction" from land developers. Those contributions will
be utilized to fund the remainder of the project costs. Page 2 of Exhibit No.3 is the
engineers estimated time-line for completing the project. That schedule shows that the
entire project should take approximately one (1) year to complete.
Attached Exhibit No.4 is a June 20, 2006 letter from the DEQ Loan Officer with
whom the Company has been working regarding this project. That letter, although not a
firm commitment, indicates the Company will likely be approved for this loan.
Copies of the Company s 2005 Balance Sheet and Income Statement filed with
the Commission are attached as Exhibit No.
Even though the loan will not be finalized until the project is completed, the
Company must have the Commissions approval prior to commencing construction and
acquisition of water rights and land. The DEQ will begin funding the project as soon as
the Company receives the Commissions approval to incur the debt and when final
approval for the loan is received from the DEQ Board.
Applicant certifies that a notice regarding this Application will be published in the
legal notices section of the Post Register newspaper within seven (7) days of the date this
Application is filed with the Commission. Exhibit No.6 is a copy ofthat notice.
Falls Water Company Inc. requests that the application be considered by the
Commission under the rules of Modified Procedure.
Applicant respectfully request expeditious and favorable consideration of this
application. Please direct any questions or correspondence regarding this application to
the applicant as indicated on page 1.
Dated this 28th day of July 2006.
Respectfully submitted
Falls Water Company Inc.
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K. Scott Bruce, General Manager
Falls Water Co.
Loan Amortization Schedule
Beginning Balance $ 1 200 000.
Interest Rate 25%
Term 20
No. of Pmnts
Loan Reserve Toal
Payment Pmnt interest Principal Balance Prepay Cash
$ 41 ,033.$ 19 500.$ 21 ,533.$ 1 178,466.103.$ 45 137.
033.150.883.156 582.103.137.
033.794.47 239.134 343.103.137.
033.18,433.600.111 742.103.137.
033.065.967.088 775.103.137.
033.692.341.065,434.103.137.
033.313.720.041 713.103.137.
033.927.105.017 607.103.137.
033.536.24,497.993 110.103.137.
033.138.895.968 214.103.137.
033.733.49 300.942 914.49 033.
033.322.711.917 203.033.
41 ,033.904.129.891 074.033.
033.14,479.553.864 520.033.
033.048.46 985.837 535.033.
033.609.27,423.810 111.40 033.
033.164.869.782 242.033.
033.711.43 322.753 919.033.
033.251.782.47 725 137.033.
033.783.48 250.695 887.033.
033.308.725.666 161.033.
033.825.208.635 953.033.
033.334.699.43 605 253.033.
033.835.198.574 055.033.
033.328.40 705.542 350.033.
033.813.220.48 510 129.033.
033.289.744.477 385.033.
033.757.276.444 109.40 033.
033.216.816.410 292.033.
033.667.366.42 375 926.033.
033.108.924.341 001.033.
033.541 .35,492.40 305 508.033.
033.964.069.269,439.033.
033.378.655.232 784.033.
033.782.250.195 533.47 033.
033.177.42 856.157 677.033.
033.562.38,471.42 119 205.033.
41 ,033.937.096.109.033.
033.301.731.377.41 ,033.
033.46 656.377.033.46
Exhibit No.
Schiess & Associates
ENGINEERING. PLANNING. LAND SURVEYING
7103 SOUTH 45TH WEST, IDAHO FALLS, ID 83402
OFFICE: [phone] . FAX: [phone] REXBURG, ID
OFFICE: [phone] . FAX: [phone]
July 19 2004
Scott Bruce
Falls Water Company Inc.
2025 E. First Street
Idaho Falls, ill 83401
[phone]
RE: Acceptable Future Development - Water Model Findings - 04097
Dear Scott
Based on our meeting on July 9th, wehave run water models for the current year, 2005 , and
2006. The purpose of these runs was to determine the number and location of acceptable lots
which can be added to the Falls Water system. We have based these runs on the model that was
developed for the facilities planning study (FPS) as well as recent water connections, locations of
unimproved lots, and 8% annual growth as out lined in the FPS. Although demand was added to
specific subdivisions, their actual location within an area makes little difference in the model.
The subdivisions have been grouped into the following two areas:
Subdivision GroupingNorth South
Ammon Industrial Centennial
Calico Sky Crimson
Cornerstone Fairmont
Denise Fall Creek
Lincoln Industrial Green Oak
Summit Park North SprinQs
Victor Hanks Stone Arbor
Warm Springs
The following table shows number oflots added in the model to each area to represent demand
in the years indicated.
Total Lo
Total peak dema
North 144 123
South 127 103
ts Added 208 207 225
nd (gpm)630 160 733 352
2003 2004 2005 2006
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Scott Bruce - Falls Water
July 19, 2004
Page 2
When the models were run with the appropriate yearly demands, the following peak pressures (inpsi) were reported:
2004 2005 2006
Calico Sky
Caribou
Centenf1ial
Cloverdale
Cornerstone
Crimson
Falls Brook
Henderson
Hitt
Lawndale
Lincoln
McDonalds
Summit
The model was run with the new 12-inch line on Lincoln Road in place. The benefits of this line
to help increase supply to North Springs and Caribou Meadows are lessened in part by the strong
growth at Summit Park and Calico Sky.
Tony Wise of Falls Water indicated that pressures in Caribou Meadows have dropped to only 45
psi in the recent past, instead of 35 as calculated by the model. This difference in pressures is
understandable considering the assumptions that were used in preparing the model. The peak for
Falls Water was established by finding the highest flow during the summer of2003 which was
larger than the average day by a factor of 3.7. The peak factor used in the model was 4.0. The
weather for the last few weeks has been cooler and wetter than we usually see this time of year
which means that the system has not likely achieved a peak as high as the peak used in the
model.
If growth occurs at a rate of 8% as reported in the FPS , then by the summer of 2005, pressures
will fall below the required level of 40 psi under peak conditions.
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CONSULTING ENGINEERS
Scott Bruce - Falls Water
July 19, 2004
Page 3
Models were run with future 1 500 gpm wells on Iona Road and Crowley Road. The following
peak pressures (in psi) were reported for just one well at Iona Road and for both wells:
Calico Sky
Carabou
Centennial
Cloverdale
Cornerstone
Crimson
Falls Brook
Henderson
Hitt
Lawndale
Lincoln
McDonalds
Summit
With well on lona2005 2006
With wells on lona
and Crowley2005 2006
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Paul H. Scoresby, PE Chris A. Park
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SchIess 8t ~ssoclatesCONSULTING ENGINEERS
Schiess & Associates
ENGINEERING. PLANNING. LAND SURVEYING
7103 SOUTH 45TH WEST, IDAHO FALLS, ID 83402
OFFICE: [phone] . FAX: [phone] REXBURG. ID
OFFICE: [phone] . FAX: [phone]
June 25 , 2004
Scott Bruce
Falls Water Company Inc.
2025 E. First Street
Idaho Falls, ID 83401
[phone]
RE: Calico Sky - Divisions 1 through 7 - Water Model Findings
Project No. 04097
Dear Scott
As requested, we have updated the water model to include the Calico Sky Subdivision, Divisions
1 through 7 per the attached plan. The water model was run under varying criteria and the
minimum pressures in Calico Sky were noted. The fire scenarios were run under peak hour
conditions as required by Idaho Rules for Public Drinking Water Standards (IDAP A 58.01.08).
The average demand was calculated and evenly distributed to each model node using 50 acres
and 1.757 gpm/ac. This average demand was calculated from Falls Water Company s flow
records. A peak hour factor of 4 times the average day was used. The minimum Calico Sky
pressures are presented in the following table:
Average Day
Max Day
Peak Hour
Peak Hour - with 1 000 gpm fire in northwest comer
Peak Hour - without well 5
Peak Hour - without Well 5 - with 1 000 gpm fire
83 psi
66 psi
10 psi
near 0 psi
near 0 psi
near 0 psi
As this table shows, the existing Falls Water system will not adequately provide water to the
proposed Calico Sky additions under peak hour and fire flow conditions when Calico Sky and
Summit Park are fully built out. The Calico Sky and Summit Park subdivisions are served
primarily by Well #5 which can supply 750 gpm at 80 psi. The combined peak hour demand for
Calico and Summit at build out is 1 360 gpm.
With the proposed plan, Calico Sky will rely exclusively on one pipe in the southwest comer of
the subdivision for all their water supply. If the Calico Sky subdivision is approved, a new well
should be constructed in the near future to provide another supply source, preferably on Iona
Road. This is also in keeping with the findings of the overall water system study. You will
receive a draft copy of this study in approximately two weeks after we receive your comments
made from the pre-draft copy.
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June 25, 2004
Page 2
Future looping should be facilitated by placing an 8-inch line on Azure Drive from Vision Drive
to Iona Road. This 8-inch line will decrease head losses and improve pressures. This plan also
prepares the system for future tie-in looping to Michelle Street as considered in the previously
noted water study for the area.
We recommend that a 12-inch line be placed between lots 2 and 3 in Division 1 to tie into the
existing 12-inch line coming from Well #5 on Ammon Road. At a minimum, an 8-inch line
should be laid from the 12-inch line in the southwest corner to Clear Day Drive and up Ammon
Road to Woodside Drive in Summit Park to tie the two subdivisions together. Pipes that are
planned to extend to future developments should be extended to the end of the proposed
development to facilitate future expansion. Flushing hydrants should be placed on all dead ends
(temporary or permanent) and cul-de-sacs. Flush hydrants in dead-ends and cul-de-sacs should
be flushed twice each year as per IDAP A 58.01.08.
The model was run without the planned 12-inch line north of Calico Sky on Iona Road because
the line will not immediately tie into Summit Park. The 12-inch line should be placed to provide.future trunk line looping and to connect to a new well on Iona Road.
The Summit Park water model review letter dated May 3, 2004 indicated that the existing Falls
Water system will adequately provide water to the Summit Park additions. This conclusion was
based on an incorrect assumption in the water model. The model has been corrected and run
again to model Summit Park without Calico Sky. The results of this corrected model show that
tinder peak hour conditions the water pressure in Summit Park will be 28 psi. This is below the
allowed pressure of 40 psi. The system will also not be able to supply water for a 1 000 gpm fire
at a minimum 20 psi pressure when combined with peak demands as required by IDAP A
58.01.08. This corrected water model helps explain why the current system cannot provide
acceptable pressures under peak hour demand as shown on the table on the previous page. It is
also noteworthy to inform you that the latest revision ofIDAPA 58.01.08 modified the water
model criteria. The revisions of the past allowed the fire flows to be combined with max day
demand. The current revision requires fire flow to be combined with peak hour demand which is
significantly higher. The current revision also increased the minimum allowed water pressure at
peak hour from 35 psi to 40 psi. These changes force water systems to provide additional well
and pump capacities above those required in the past.
To enable Calico Sky and the entirety of Summit Park to hookup to your water system, anadditional well should be constructed near Iona Road. The new well was placed in the model in
accordance with our study findings. A new well capable of supplying 1 500 gpm (fY 80 psi will
support these subdivisions and will produce the following minimum pressures, shown in the
table below:
Average Day
Max Day
Peak Hour
Peak Hour - with 1 000 gpm fire in northeast corner of Summit
Peak Hour - without well 5
Peak Hour - without Well 5 - with 1 000 gpm fire
80 psi
80 psi
61 psi
29 psi
35 psi
near 0 psi
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June 25, 2004
Page 3
Although a well supplying 1 500 gpm will satisfy the Summit Park and Calico Sky additions
future demand in cuITently undeveloped areas nearby will require greater flow. Our water study
model for the future scenario was run with a 3 000 gpm supply from the new well location. This
increased supply will be possible with a 1 500 gpm well along with a tank and booster pump
station. The tank and booster pumps or an additional well, will be required to supply futuredevelopment demand.
It is imperative that a new well be planned immediately to supply peak flow and fire flow
demands to the Summit Park and Calico Sky subdivisions. In addition, we have learned in the
overall water study that your water rights are deficient. Water rights should be obtained for the
new well that will serve these subdivisions. Even if Calico Sky is not built right away, a new
well should be planned on Iona Road as indicated in the overall water system study. We expect
you to return to us the pre-draft copy of chapters 3, and 5-8 ofthe water study by July 2, 2004 so
that we can produce a complete draft of chapters 1-8 and submit it to you and DEQ. Weare
anxious, as you are, to release the data we have gathered to the regulators so that together we can
initiate an improvement plan.
Please call if you have any questions.
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Chris A. ParkPaul H. Scoresby, PE
Attachment:Calico Sky Subdivision map
Water Model Calculations
\\Marcia\C\Documents and Settings\marcia\My DocumentsVobs\2002\02l96 Falls Water Facilities Planning Study\CorrespondenceVune 25
2004 Scott Bruce.doc
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06/15/06 15: 05 FAX [phone]---ECIPDA
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Exhibit B. Engineer Opinion of Probable Project Cost
Item No..!!!ml
Construction Costs:
Unit QuarrtitY Unit Coat Total Cost
New well, 20~ dla. Casing, approximately 350 feet lump sum $223,050 5223,050
deep on ftJture booster station and tank site
8uilding piping including flowmeter. valves, air lump sum $25,000 $25,000
relief, transducar. pressure guage.: prelube line.
future chlorination injection Dort & visible Dicina
Site piping including pipe, valves. fittings, pump to lump sum $15,000 $15,000
waste, hookup to existing system, etc.
Well building expandable for a boo$ter pump square feet 720 $160 $115,200
station and chlorination.$6~300 Hp deep WEIll pump, column, VFD & controls lump sum $55 000
Smergency genElrator (sized to also operate future lump sum $135,000 $135,000
booster pump5). transfer switch & diesel tank
FencirJa lineal foot 1050 $15 $15 750
Total estimated probable construction cost $584,000
$500
$60,000
$750,000
$60,9.29
$146.000
$10.000
$1,5!;iQ,vOO
Project Budaet
I DEQ loan $1,200,000
I Local Cash $3.50.000
Total estimated cost $1,550,000
FWC Out of Pocket Costs
IDWF\ drilling permit fees
. Electrical costs that must be paid directly to Utah !'ower to get power to the site
Other utility costs that must be paid to get services to the site
Legal services assocIated with.the proJect
. Advertisement costs
No! Included in Schiess Contract
Extansive acquisition assistancQ for water rights or property
Extensive PUG coordination such as for trips to BoisEI and etc.
FuturEt SCADA hookup starting from e. termination panel
04192 Falls Water Company
Well No.9 and Well House Professionai Services Con!i'act
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Mar 16 06 03: 44p SCH I ESS Be ASSOC.(208) 522 -9232
Funding & Rate
Approvals
Design Well
Bid Well & Award
Construct Well
Design Well House
Bid Well House &
Award
Construct Well
House
Project Closeout
04192 Falls Water Company
Well No.9 and Well House
Exhibit C - Project Schedule
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Professional Services Contract
JUN-21-2006 WED 08:37 AM A FAX NO.P. 02
Solse. Idaho 83706'1255 . [phone]
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D;~ Kempthome. Govemor
ToFlI Hardesty, Director
Scott 'Uce
F aIIs . Iter System2025 st J It Street
Idaho . aDs. Idaho 83401
This 1 ~ shall serve as a statement ofinteot by the Idaho Department ofEnvironmentaI Quality(Dcp lent) to the Falls Water System (System) to loan the System the sum of approximately2 ,( 00 for COSts reiata! to the construction of a new well. The new wen will be
used tosupply d inking water to System custo~ COlTecting low pressure ami system capacitjdeft. lei.
The loan approval is contingent upon Priority List approval by the Depat1ment~
s Boord andthe Sy tc m complying with application requirements.
Neither of these two qualifications isI :d problematic-
Please ' U me with any questions that you might ~ve. I can be reached at [phone].
Band, cPA
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:llie Teuscher, DEQ Idaho Falls Regional Office
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NAME:Falls Water Company, Inc.
REVENUE & EXPENSE DETAIL
For the Year Ended December 31 2005ACCT #DESCRIPTION
400 REVENUES
460 Unmetered Water Revenue 122 168
461.Metered Sales - Residential 373 867
461.Metered Sales - Commercial , Industrial 884
462 Fire Protection Revenue
464 Other Water Sales Revenue 677
465 Irrigation Sales Revenue
466 Sales for Resale
400 Total Revenue (Add Lines 1 - 7)509 595(also enter result on Page 4, line 1)
* DEQ Fees Billed separately to customers Booked to Acct #
** Hookup or Connection Fees Collected 205 300 Booked to Acct 271
***
Commission Approved Surcharges Collected Booked to Acct #
401 OPERATING EXPENSES
601.6 Labor - Operation & Maintenance 100 014
601.Labor - Customer Accounts 7,449
601.Labor - Administrative & General 186
603 Salaries, Officers & Directors 824
604 Employee Pensions & Benefits 13,406
610 Purchased Water 112
615-Purchased Power & Fuel for Power 78,469
618 Chemicals
620.6 Materials & Supplies - Operation & Maint.240
620.8 Materials & Supplies - Administrative & General 861
631-34 Contract Services - Professional 002
635 Contract Services - Water Testing 580
636 Contract Services - Other 518
641-Rentals - Property & Equipment 705
650 Transportation Expense 19,478
656-Insurance 9,468
660 Advertising 2,458
666 Rate Case Expense (Amortization)
667 Regulatory Comm. Exp. (Other except taxes)431
670 Bad Debt Expense 296
675 Miscellaneous 684
Total Operating Expenses (Add lines 12 - 32, also enter on Pg 4, line 2)468 183
Rev 3/02 Page 3 txh;bd 1Jt7
f3 lor
Name:Falls Water Company, Inc.
INCOME STATEMENT
For Year Ended December 31 2005
ACCT #DESCRIPTION
Revenue (From Page 3, line 8)509 595
Operating Expenses (From Page 3, line 33)468 183
403 Depreciation Expense 293
406 Amortization, Utility Plant Aquisition Adj.
407 Amortization Exp. - Other
408.Regulatory Fees (PUC)320
408.Property Taxes 890
408.Payroll Taxes
408.Other Taxes (list)DEQ Fees
409.1 0 Federal Income Taxes
409.State Income Taxes
410.Provision for Deferred Income Tax - Federal
410.Provision for Deferred Income Tax - State
411 Provision for Deferred Utility Income Tax Credits
412 Investment Tax Credits - Utility
Total Expenses from operations before interest (add lines 2-15)519 716
413 Income From Utility Plant Leased to Others
414 Gains (Losses) From Disposition of Utility Plant
Net Operating Income (Add lines 1 , 17 & 18 less line 16)
415 Revenues, Merchandizing Jobbing and Contract Work
416 Expenses, Merchandizing, Jobbing & Contracts
419 Interest & Dividend Income
420 Allowance for Funds used During Construction
421 Miscellaneous Non-Utility Income 878
426 Miscellaneous Non-Utility Expense 883
408.Other Taxes, Non-Utility Operations
409-Income Taxes, Non-Utility Operations
Net Non-Utility Income (Add lines 20,23 & 24 less lines 21 , & 27)
Gross Income (add lines 19 & 28)
427.Interest Exp. on Long-Term Debt
427.Other Interest Charges
NET INCOME (Line 29 less lines 30 & 31) (Also Enter on Pg 9, Line 2)
(10 121)
996
875
127
252)
Rev 3/02 Page 4
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Name:Falls Water Company, Inc.
BALANCE SHEET
For Year Ended December 31 2005
ASSETS Balance
Beginning
Balance
End of
Increase
ACCT #DESCRIPTION of Year Year (Decrease)
101 Utility Plant in Service (From Pg 5, Line 29)010 734 176,624 165 890
102 Utility Plant Leased to Others
103 Plant Held for Future Use
105 Construction Work in Progress
114 Utility Plant Aquisition Adjustment
Subtotal (Add Lines 1 - 5)010 734 176 624 165 890
108.Accumulated Depreciation (From Pg 6, Line 26)362 798 419,035 237
108.Accum. Depr. - Utility Plant Lease to Others
108.Accum. Depr. - Property Held for Future Use
110.Accum. Amort. - Utility Plant in Service
110.Accum. Amort. - Utility Plant Lease to Others
115 Accumulated Amortization - Aquisition Adj.
Net Utility Plant (Line 6 less lines 7 - 12)647 936 757 588 109 652
123 Investment in Subsidiaries
125 Other Investments
Total Investments (Add lines 14 & 15)
131 Cash 126,484 271 019 144 535
135 Short Term Investments
141 Accts/Notes Receivable - Customers 629 60,409 780
142 Other Receivables 58,187 187
145 Receivables from Associated Companies
151 Materials & Supplies Inventory
162 Prepaid Expenses 876 876
173 Un billed (Accrued) Utility Revenue
143 Provision for Uncollectable Accounts 300 300
Total Current (Add lines 17 -24 less line 25)165 813 390 192 224 379
181 Unamortized Debt Discount & Expense
183 Preliminary Survey & Investigation Charges
184 Deferred Rate Case Expenses
186 Other Deferred Charges
Total Assets (Add lines 13, 16 & 26 - 30)813 749 147 780 334 031
Rev 3/02 E:. -X-h I
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Page 7
Name:Falls Water Company, Inc.
BALANCE SHEET
LIABILITIES & CAPITAL
For Year Ended December 31 , 2005
Balance
Beginning
Balance
End of
Increase
ACCT #DESCRIPTION of Year Year (Decrease)
201-Common Stock 25,000 25,000
204-Preferred Stock
207-Miscellaneous Capital Accounts
214 Appropriated Retained Earnings
215 Unappropriated Retained Earnings 114,717 100 167 (14 550)
216 Reacquired Capital Stock
218 Proprietary Capital
Total Equity Capital (Add Lines 1-5+7 less line 6)139,717 125 167 (14 550)
221-Bonds
223 Advances from Associated Companies 115 966 105 378 (10 588)
224 Other Long - Term Debt 232 259 363 182 131
231 Accounts Payable 979 235 (19 744)
232 Notes Payable 233,159 573 (205 586)
233 Accounts Payable - Associated Companies 951 674 723
235 Customer Deposits (Refundable)
236.Accrued Other Taxes Payable
236.Accrued Income Taxes Payable 054 024)
236.Accrued Taxes - Non-Utility
237-40 Accrued Debt, Interest & Dividends Payable
241 Misc. Current & Accrued Liabilities
251 Unamortized Debt Premium
252 Advances for Construction
253 Other Deferred Liabilities
255.Accumulated Investment Tax Credits - Utility
255.Accum. Investment Tax Credits - Non-Utility
261-Operating Reserves
271 Contributions in Aid of Construction 208 875 622,491 413 616
272 Accum. Amort. of Contrib. in Aid of Const. **827)(19 131)(13 304)
281-Accumulated Deferred Income Taxes
Total Liabilities (Add lines 9 - 29 674 389 022 612 348 223
TOTAL LlAB & CAPITAL (Add lines 8 & 30)814 106 147 779 333 673
Rev 3/02
** Only if Commission Approved
Page 8 r: b/I- ;Vofj l' uP
LEGAL NOTICE
Falls Water Company Inc. filed an application with the Idaho Public Utilities
Commission (PUC) on July 28th 2006 for authorization to incur debt. The Company is
seeking authorization to borrow $1 200 000 from the State Drinking Water Revolving
Fund administered through the Idaho Department of Environrnental Quality.
The purpose of the loan is to provide funds to acquire land and water rights and
construct a new well to meet the demands of the Company s water customers.
A copy of the Application is available for inspection at the Idaho Public Utilities
Commission, 472 W. Washington St., Boise, Idaho and at the Company s office at 1770
Sabin Dr., Idaho Falls, Idaho. The Application is also available on-line at the PUC web
site www.puc.idaho.gov
Comments regarding this application should be mailed to the Company and to the
PUC at P.O. Box 83720, Boise, Idaho 83720-0074. Comments can also be submitted on
the PUC website.
Exhibit No.