V. Collection of Fees
Whenever the Commission authorizes a utility to issue debt, the Commission must charge and collect a fee in accordance with § 1904(b). Section 1904(b) states, in part, that for a certificate authorizing an issue of bonds, notes, or other evidences of indebtedness, a fee shall be collected in the manner prescribed therein. Pursuant to § 1904.1, the Commission is also required to charge and collect a fee for a certificate authorizing an issue of stock, computed at the rates set forth above under Sec. 1904(b), to be determined based upon the proposed maximum proceeds. Based on Exhibit D of the Application, the total funding requested includes issuances attributable to new debt of $113 million and new equity of $62 million.3 The following table shows the calculation of the fee that GSWC is required to pay pursuant to the formula set forth in § 1904(b) for the additional $175 million (equal to $113 million increase in its borrowing capacity and $62 million increase in equity securities) as authorized by this decision.
Computation of § 1904(b) Fee
For $175 Million of Additional Debt and Equity
Fee on First $ 1 Million $ 2,000
Fee on $2 Million - $10 Million $ 9,000
Fee on $10 Million to $165 Million $ 82,500
Total Fee $ 93,500
GSWC shall remit the required fee of $93,500 to the Commission's Fiscal Office. The authority granted by this opinion shall not become effective until the fee is paid.
3 Applicants request authorization for issuances of $113 million for New Debt and $25 million for refunding Existing Debt. Section 1904(b) does not require the payment of a fee on issuances attributable to the refunding of existing debt on which a fee has previously been paid to the Commission.
