61-1501. LEGISLATIVE INTENT. It is the intent of the legislature in enacting this chapter to provide a process by which the recovery of large energy rate increases caused by fuel or power cost adjustments, purchased gas adjustment tracker rates, commodity tracker rate adjustments or purchased power tracker rates will be facilitated by the issuance of […]
61-1502. DEFINITIONS. For purposes of this chapter, the following terms shall have the following meanings: (1) "Assignee" means any corporation, limited liability company, trust, partnership or other entity to which a public utility assigns, sells or transfers, other than as security, all or a portion of the public utility’s interest in or right to energy […]
61-1503. ENERGY COST RECOVERY BONDS. An electric or gas public utility may apply to the commission for an energy cost financing order requesting that certain energy cost amounts be recovered through the sale of energy cost recovery bonds. (1) A public utility may apply to the commission at any time and from time to time […]
61-1504. PROCEDURE FOR ISSUANCE OF BONDS. (1) Public utilities, assignees or other issuers may issue energy cost recovery bonds upon approval by the commission in an energy cost financing order. (2) Public utilities and assignees may sell and assign all or portions of their interest in energy cost property. Public utilities and assignees may sell […]
61-1505. SECURITY INTEREST. (1) To the extent the provisions of this section conflict with chapter 9 as from time to time in effect, including any successor provisions, this section shall apply. (2) A security interest in energy cost property is valid, is enforceable against the pledgor and third parties, subject to the rights of any […]
61-1506. TRANSFERS IN INTEREST. (1) A transfer of energy cost property by a public utility to an assignee, or by an assignee to another assignee, that the parties have in the governing documentation expressly stated to be a sale or other absolute transfer, in a transaction approved in an energy cost financing order, shall be […]
61-1507. SUCCESSORS. Any successor to the public utility, whether pursuant to any bankruptcy, reorganization or other insolvency proceeding, or pursuant to any merger, sale or transfer, by operation of law or otherwise, shall perform and satisfy all obligations of the public utility pursuant to this chapter in the same manner and to the same extent […]
61-1508. SEVERABILITY. If any provision of this chapter is held to be invalid or is invalidated, superseded, replaced or repealed, or expires for any reason, that occurrence does not affect the validity or continuation of this chapter or any other provision of this title that is relevant to the issuance, administration, payment, retirement or refunding […]
