Section 815-RICR-00-00-1.14 - Applications Relating to SecuritiesA. Contents 1. A public utility seeking to issue stocks, bonds, notes, or other evidences of indebtedness payable more than twelve (12) months from the date of issue, must obtain authorization from the Division pursuant to R.I. Gen. Laws § 39-3-15. Applications shall be in writing and under oath, shall state clearly and concisely the authorization sought, and shall comport with R.I. Gen. Laws § 39-3-17. In addition, the application shall include:a. Written direct testimony and supporting exhibits, which shall include: (1) an explanation of the proposed transaction, specifically addressing in detail: (AA) any ratepayer impact; and(BB) any unusual features which may have significant impact on the Division's ability to regulate the utility;(2) investment memoranda, prospectuses, information or registration statements or other documents to describe the transactions or potential funding sources (in cases where it is not practical to provide final versions of such documents, drafts may be submitted);(3) a summary of the proposed contents of transaction documents, specifying: (AA) terms and conditions of the transaction that are firm;(BB) ranges for interest rates and dollar amounts involved in the transaction that are not firm.(4) a summary of alternative terms and conditions of the transactions being negotiated, including interest rates, maturities, terms of call and restriction, necessity for security, manner of sale, issuance costs, and proposed purchasers.(5) a present and proforma capital structure presentation, showing the effect of the security issuance.b. Notice of the filing of the application relating to securities on the Department of the Attorney General.c. Four (4) legible copies in addition to the original.2. Rejection of Filings a. An application relating to securities may be rejected if the utility's annual reports to the Commission are not current and if the utility has not demonstrated good cause for its failure to make its annual filing when due.3. Procedure Upon Receipt of Application a. Upon docketing of an application relating to securities, the Administrator will assign a Hearing Officer to conduct a public hearing and render a recommended decision.4. Public Notice of Filing a. A utility filing an application relating to securities shall, at its expenses, publish notice of the filing in The Providence Journal-Bulletin or, with the approval of the Administrator, in a newspaper of general circulation in the county where the principal office of the utility is located, in the form prescribed by § 1.12(C) of this Part. The notice must appear at least once. The applicant shall ensure that an affidavit of publication is promptly filed with the Clerk upon publication of the notice.815 R.I. Code R. 815-RICR-00-00-1.14