ORDER NO. G-36-97 SIXTH FLOOR, 900 HOWE STREET, BOX 250 a TELEPHONE: (604) 660-4700 VANCOUVER, B.C. V6Z 2N3 BC TOLL FREE: 1-800-663-1385 CANADA FACSIMILE: (604) 660-1102 IN THE MATTER OF the Utilities Commission Act, S.B.C. 1980, c. 60, as amended and An Application by West Kootenay Power Ltd. for Approval to Issue Series I Debentures BEFORE: L.R. Barr, Deputy Chair; and ) K.L. Hall, Commissioner ) April 3, 1997 O R D E R WHEREAS: A. On March 7, 1997 West Kootenay Power Ltd. (ÒWKPÓ) applied, pursuant to SectionÊ57 of the Utilities Commission Act (Òthe ActÓ), for Commission approval to issue new debentures, SeriesÊI, in the amount of $25Êmillion at an interest rate of 7.81 percent issued at a discount to yield 7.902Êpercent and a term of 24Êyears; and B. On March 13, 1997 the Commission issued Letter No.ÊL-12-97 approving in principle the SeriesÊI debenture issue; and C. On March 24, 1997 WKP submitted a certified copy of a Resolution of the Board of Directors approving the Series I Debenture issue and a copy of the Supplemental Indenture and requested the Commission give final approval to issue the $25Êmillion Series I Debentures; and D. The Commission has reviewed the Application and supporting material and approves the terms thereof. NOW THEREFORE, pursuant to Section 57 of the Act, the Commission approves the following for WKP: 1. The authorization to issue Series I Debentures in the amount of $25Êmillion at an interest rate of 7.81Êpercent issued at a discount to yield 7.902Êpercent with a term of 24 years. 2. The Commission approval given in No.Ê1 above is conditional upon WKP providing to the holders of the Series I Debentures, at the time of closing, an undertaking not to issue any additional debentures without providing the holders of SeriesÊI a guarantee of UtiliCorp United Inc., parent of WKP. DATED at the City of Vancouver, in the Province of British Columbia, this ÊÊÊÊÊÊ3rdÊÊÊÊÊÊÊÊÊÊday of April, 1997. BY ORDER Original signed by: Lorna R. Barr Deputy Chair Orders/WKP-Series I Dbntrs
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