8. Fee for Authority to Issue Debt and Equity

Whenever the Commission authorizes a utility to issue debt and equity, the Commission is required to collect a fee in accordance with § 1904(b) and § 1904.1. These code sections state, in relevant part, as follows:

§ 1904(b): For a certificate authorizing an issue of bonds, notes, or other evidences of indebtedness, two dollars ($2) for each one thousand dollars ($1,000) of the face value of the authorized issue or fraction thereof up to one million dollars ($1,000,000), one dollar ($1) for each one thousand dollars ($1,000) over one million dollars ($1,000,000) and up to ten million dollars ($10,000,000), and fifty cents ($0.50) for each one thousand dollars ($1,000) over ten million dollars ($10,000,000), with a minimum fee in any case of fifty dollars ($50). No fee need be paid on such portion of any such issue as may be used to guarantee, take over, refund, discharge, or retire any stock, bond, note or other evidence of indebtedness on which a fee has theretofore been paid to the commission.

§ 1904.1: The commission shall also charge and collect a fee for a certificate authorizing an issue of stock, which fee shall be computed at the rates set forth in subdivision (b) of Section 1904 and determined by the commission upon the basis of the proposed maximum proceeds. No fee shall be paid on such portion of any such issue as may be used to guarantee, take over, refund, discharge, or retire any stock, bond, note, or other evidence of indebtedness on which a fee has theretofore been paid to the commission.

Today's Decision authorizes Alco to issue an additional $8.0 million of debt and equity. The following table shows the calculation of the fee that Alco is required to pay pursuant to § 1904(b) and § 1904.1:

Alco shall remit the required fee of $9,000 to the Commission's Fiscal Office no later than 20 days from the effective date of today's Decision. The authority granted by today's Decision shall not become effective until Alco has paid the fee.