§ 39-20-10 - Issuance of securities to finance electric generating facilities. - Rhode Island Statutes

SECTION 39-20-10

   § 39-20-10  Issuance of securities tofinance electric generating facilities. – (a) The purposes for which a domestic public utility may issue stocks, bonds,or other evidences of indebtedness, payable more than twelve (12) months fromdate of issue, pursuant to §§ 39-3-15, 39-3-17 – 39-3-19, and39-3-21 shall include the acquisition of ownership of, or other interests in,electric generating facilities, within or without this state, or portionsthereof.

   (b) Notwithstanding the provisions of § 39-3-20, anyforeign electric utility, other than a governmental entity, which owns andoperates any electric generating facilities within this state or portionsthereof shall be subject to the provisions of §§ 39-3-15, 39-3-17– 39-3-19, and § 39-3-21 and other regulatory laws within the statewith respect to any financing of the cost of its acquisition of ownership of orother interests in the electric generating facilities, including the issuanceof stocks, bonds, or other evidences of indebtedness payable more than twelve(12) months from the date of issue; provided, however, that it shall be exemptfrom the provisions of this subsection upon the filing with the commission ofcertification by a regulatory commission of the state of domicile or principallocus of the foreign electric utility, or of the United States, that theregulatory commission has regulatory jurisdiction over the financing of theforeign electric utility.