Conclusions of Law

1. The proposed transfer of control is not adverse to the public interest.

2. This proceeding is designated a ratesetting proceeding; no protests have been received; no hearing is necessary.

3. Applicants' request to file its financial information under seal should be granted for two years.

4. This is an uncontested matter in which the decision grants the relief requested.

5. The application should be approved.

ORDER

IT IS ORDERED that:

1. Searles Valley Holdings, LLC and Karnavati Holdings, Inc., (collectively, Applicants) are authorized pursuant to Section 854 of the Public Utilities Code to enter into the transaction by which Karnavati Holdings, Inc. acquires control of Searles Domestic Water Company.

2. Applicants shall provide the Director of the Commission's Division of Water and Audits, in writing, of the transfer of authority, as authorized herein, within ten days of the date of this order. A true copy of the instruments of transfer shall be attached to the notification.

3. Searles Domestic Water Company shall make all books and records available for review and inspection upon Commission staff request.

4. Karnavati Holdings, Inc. is authorized to acquire ownership of and assume water utility service to the customers of Searles Domestic Water Company.

5. Applicants' request that the financial information pertaining to Searles Valley Holdings, LLC balance sheet and income statement, filed with this application be kept under seal is granted for two years from the effective date of this decision. During that period the information shall not be made accessible or disclosed to anyone other than the Commission staff except on the further order or ruling of the Commission, the Assigned Commissioner, the assigned Administrative Law Judge (ALJ), or the ALJ then designated as Law and Motion Judge.

6. If Applicants believe that further protection of the information kept under seal is needed, they may file a motion stating the justification for further withholding of the information from public inspection, or for such other relief as the Commission rules may then provide. This motion shall be filed no later than one month before the expiration date.

7. The authority granted herein shall expire if not exercised within one year of the date of this order.

8. Upon consummation of the transfer of ownership, Searles Valley Holdings, LLC shall be relieved of public utility responsibility for the operation of the Searles Domestic Water Company.

9. Application 07-12-004 is closed.

This order is effective today.

Dated May 15, 2008, at San Francisco, California.

Previous PageTop Of PageGo To First Page