View Case Filings for: 2011-00478
Adair County Water District
Assistance Agreement with KIA in Principal Amount of $4,000,000
*Case Filing Year is approximate
Order Entered: Finding Paragraph 17 of our Order of December 27, 201 1 is amended to read: The proposed loan agreement with KIA is for a lawful object within Adair District’s corporate purposes, is necessary and appropriate for and consistent with Adair District’s proper performance of its service to the public and will not impair Adair District’s ability to perform that service, and is reasonably necessary and appropriate for such purpose.
Order Entered: (1) Adair District's motion to deviate from 807 KAR 5:001, Section 11(2)(a), is granted. (2) Adair District's application is considered filed as of December 8, 2011. (3) The record of Case No. 2011-00127 is incorporated by reference into the record of this proceeding. (4) Subject to the condition set forth in ordering paragraph 7, Adair District is authorized to enter into a loan agreement with the KIA for an amount not to exceed $4.0 million with a term of 20 years at an interest rate of one percent per annum. (5) Within 30 days of executing its proposed loan agreement with KIA, Adair District shall advise the Commission in writing of execution of that agreement and any terms that differ from those described in Adair District's application. (6) Adair District shall use the proceeds from the proposed loan agreement with KIA only for the purposes set forth in its application. (7) Within 60 days of the date of this Order, Adair District shall file with the Commission an application for an adjustment in its rates for water service sufficient to enable the water district to meet the debt service covereage. (8) Any documents filed pursuant to ordering paragraph 5 of this Order shall reference the number of this case and shall be retained in the utility's general correspondence file.
Acknowledge Receipt of Filing
Application of Adair County Water District for Authority to Execute an Assistance Agreement with KIA in the Principal Amount of $4,000,000 Pursuant to the Provisions of KRS 278.300 and 807 KAR 5:001