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Home My WebLink About20211122Statement of Public Notice.pdfPrestonN. Carter,ISB No. 8462 Blake W. Ringer, ISB No. 11223 Givens Pursley LLP 601 W. Bannock St. Boise, lD 83702 Telephone: (208) 388-1200 Facsimile: (208) 388-1300 prestoncarter@ givenspursley. com blakeringer@ givenspursl ey. com Attorneys for the Company IN THE MATTER OF THE APPLICATION OF FALLS WATER COMPANY, tNC. FOR AUTHORITY TO INCUR DEBT TO ACQUIRE REAL PROPERTY Srnreusln or PuslrclrroN t 5929840_2.docxU 3988. l3l ;,? r: r- * lt, [}i*lltt-t-,i-lYLs,, :ii:i H0Y 22 Ffl 3:03 t,1- [ ,1 . J.:.-: Ir:i ',1 .; r.il]*iii-iliS$O#l BEFORE THE IDAHO PI'BLIC UTILITTES COMMISSION Case No. FLS-W-21-02 Sr.l,rBprpxr oF PuBLrc NorrcE IN SuppoRr oF APPLTcATToN or Far,m Wlrnn CouraxYr Inc. ro APPRovE DEBT Falls Water Company, Inc. ("Falls Watet''or "Company") filed with the ldaho Public Utilities Commission ("Commission") on November 5,2021an Application of Falls Water Company, Inc. to Approve Debt ("Application"). Attached as Exhibit I is proof that notice of the Application was provided in the Posr RrctsrER on November L9,2021pursuant to IDAPA 31.01.01.141.08. Attached as Exhibit2 is aproposed order granting the Application. Dated: November 22, 202t. GTVENS PURSLEY LLP ,, _ u 6*/ - Preston N. Carter Blake W. Ringer GrvBNs Punslrv LLP Attorneys for the Company Page I CERTIFICATE OF SERVICE I certiff that on November 22,2021, a tue and correct copy of the foregoing was served upon all parties of record in this proceeding via electronic mail as indicated below: Commission Staff Jan Noriyuki, Commission Secretary Idaho Public Utilities Commission 11331 W. Chinden Blvd., Bldg. 8, Ste. 201-4 Boise, ID 83714 j an.noriyuki@puc. idaho. gov Dayn Hardie Deputy Attorney Ge,neral Idaho Public Utilities Commission 11331 W. Chinden Blvd., Bldg. 8, Ste. 201-4 Boise, D 83714 dayn.hardie@puc. idaho. gov SrerpueNr or PusrrcerrcN I 599840_2.docxll 3988. l3I Electronic ll{nil Electronic Mail ."a-*-> Preston N. Carter Page2 PROOF OF PUBLICATION Post Register State of ldaho County of Bonneville I, Ea'rvn Gier+nir+iror Collins Crapo first being duly sworn, depose and say: That I arn the €lrts*f,c* Processing Clerk employed by Adams Publishing Group of the Rockies LLC, publishers of The Post Register, a newspaper ofgeneral circulation, published 4 days, Tuesday, Wednesday, Friday and Sunday, at ldaho Falls, Idaho. lhat the notice, o[which a copy is hereto attached and made a part <lf this affidavit, was pub- lished in said Post Register for l, first publication having been made on llIl9l202L last publication hav- ingbeenmadeon llllgl202l,andthatthesaidnoticewaspublishedintheregularandentireissueof said paper on the respective dates of publication, and that such notice was the newspaPerl i.N, )and not in a supplement. Subscribed and sWorn to before me, on this l9th day of November,2021 Notary Public My commission expires: attached jurat S'TATE OI.'IDAHO COUNTY OF BONNEVILLE On this tgth day of November, 2021 before me, the undersigned, a Notary public for said state, person- ally appeared Dam{f,ieartidsr Collins Crapo, lorown or identified to rne to be the persorr(s) whose name(s) is/are subscribed to the rvithin instrument, and bcing by me first duly sworn, declared that the statements therein are true, and acknowledged to me that he/she/they executed the same, IN WITNESS WHEREOF. I have hereunto set my hand and affixed my official seal the day and year in this certiticate first above written. oublished in'/7 ft /i',",' ,' ss. fl.-tuJir,X /.L/ Notary Publidfor APG of thfoclies Residing: Idaho Falls, Idaho Comnrission expires: BEIHCROSSTEY T{OTART PUBI.JC . STAIE OF IDA'{O @Mlllsstst MYCottflsstoN NUM8m68t67 ETFnES 7.2&2022 BETtlCtosstEY NOTARY PTJBTIC . STAIE OF IOATIO coMMlssloll N,MBER 68,167 tfYcoMMlssloN EXPIRES 7-2&m22 171642 ATN 17I6'2AD' FILLAWATEN OOffiANY PI'BLIC NOIICE fthrr Corpany,mbrb areas hbIDAPAFillBgt.ol.ot.1'1108. thel thet hesil,tolbohrau0priratim to |hobrhlho8rlrouilh(Ca8e tuHo ldaho ol ls oo Rfilhhed: PROPOSED ORDER OF APPLICAI\T BEFORE T}IE IDAHO PUBLIC UTILITIES COMMISSION In the Matter of the Application of FALLS WATER COMPANY, INC. for Authority to Incur Debt to Acquire Real Property CaseNo. FLS-W-21-02 ORDER NO. On November 5,2021, Falls Water Company, [nc. ("Falls Water" or "Company''), applied to the Commission for authority to enter into a l5-year loan for $691,500 for the purpose of purchasing the real propeny from which the Company runs its operations. Having fully considered the Applicatiorl the Commission enters this Order ganting it as follows. TIIE APPLICATION The Company asks for authority to incur $691,500 of debt to purchase real property. The debt will consist of a l5-year loan with an interest rate of 0.90% APR for the first 12 months, 2.99% APF. for years 2 through 10, and 6.500/o APR for years I I through 15. The Company has produced a letter from Zions Bank indicating its interest to provide the financing. The Company seeks to incur the loan so as to finance the purchase of real propeay in Idaho Falls. The property consists of two lots that the company has historically leased. One of the lots houses the Company's main offrce building. The other lot is vacant and provides space to store equipment and other material. Earlier this year, as the Company's most recent lease approached expiration, the Company leamed that should it renew the lease its monthly payments would increase from $3,496 to $5,500. The lease also provided the Company with an option to purchase the property, which it has exercised. The Company's monthly palanents on the loan will be less than the $5,500 it would otherwise pay under a new lease. COMN{ISSION FII\DINGS AI\D DECISION The Company is an Idaho corporation with its office and principal place of business in Idaho Falls, Idaho. It is a water utillty that provides water service to approximately 5,570 residential and commercial customers located generally norttr of the City of Ammon and northeast of the city of Idalro Falls in Bonneville County, Idaho. It is a water corporation and public utility as defined in IpatroCoor $$ 61-125 and6l-129. ORDERNO.PAGE 1 The Commission has jurisdiction over the Application under IpnHo Coor $ 61-901, et seq. We find that the proposed transaction is in the public interest and a formal hearing on this matter is not required. We further find that the proposed issuance is for a lawful purpose and is within the Company's corporate powers, that the Application reasonably conforms to Rules l4l through 150 of the Commission's Rules of Procedure, IDAPA 31.01.01-14l-150, and that the Company has paid all fees due under Ipeuo Copr $ 6l -905. trscsdingly, we find that the Application should be approved and the proposed financing should be allowed. The Commission's Order approving the proposed financing and the general purposes to which the proceeds may be put is not a determination that the Commission approves of the particular use to which these funds will be put. This Order also is not a Commission determination or approval of the tlpe of financing or the related costs for ratemaking purposes. The Commission does not have before it for determination, and so does not determine, the effect of the proposed transaction on rates the Company will charge for water senrice. However, grven the circumstances, it does appear that purchase ofthe building as proposed is reasonable and in the public interest. ORDER IT IS I{EREBY ORDERED that the Company's Application for authority to incur debt consisting of a l5-year loan for $691,500 is granted. IT IS FURTIIER ORDERED that the foregoing authorization is without prejudice to the regulatory authority of this Commission with respect to rates, utillty capital stnrcture, service, accounts, valuation, estimates or determination of cost or any other matter which may come before this Commission pursuant to its jurisdiction and authority as provided by law. IT IS FURTHER ORDERED that issuance ofthis Order does not constitute acceptance ofthe Company's exhibits or other material accompanying the Application for any purpose other than the issuance of this Order. THIS IS A FINAL ORDER. Any person interested in this Order may petition for reconsideration within twe,nty-one (21) days of the service date of this Order. Within seven (7) days after any person has petitioned for reconsideration, any other person may cross-petition for reconsideration. See loeuoCopr $ 6l-626. DONE by Order of the Idalro Public Utilities Commission at Boise, Idaho this day of _2021. ORDERNO PAGE 2 PRESIDENT COMMISSIONER ATTEST: SECRETARY COMMISSIONER ORDERNO.PAGE 3