1) MPRWA Principle #1
— The public contribution lowers costs to ratepayers,
2) MPRWA Principle #2
— The public contribution does not adversely affect other (non-Monterey area)
Cal-Am ratepayers,
3) MPRWA Principle #3
— The public contribution need not require a Cal-Am specific credit rating,
4) MPRWA Principle #4
— The public contribution should not change Cal-Am's authorized debt-to-equity ratio,
5) MPRWA Principle #5 — The public contribution should not
change Cal-Am's authorized equity rate of return,
6) MPRWA Principle #6
— Cal-Am should be abrorded the opportunity to invest some equity to garner its authorized rate of return to account
for risk Cal-Am is taking,
7) MPWRA Principle #7
— The public contribution cannot cause a material delay to the project.
REBUTTAL TESTIMONY OF JEFFREY LINAM (March 8, 2013),
SUPPLEMENTAL TESTIMONY OF JEFFREY T. LINAM ERRATA (Revised Served: February 15, 2013), SUPPLEMENTAL TESTIMONY OF
JEFFREY T. LINAM (January 11, 2013) and DIRECT TESTIMONY OF JEFFREY T. LINAM
(April 23, 2012) documents are embedded.
Note: Robert Larkins, on behalf of MPWMD, offers several
public agency financing proposals. Specifically, Mr. Larkins recommends: (1)
that California American Water engage in tax-exempt securitization borrowing;
or (2) that California American Water engage in traditional tax-exempt
borrowing through the issuance of tax-exempt Certificates of Participation
("COPs") by MPWMD.
Direct Testimony of Robert Larkins, filed February 22, 2013.
BEFORE THE PUBLIC UTILITIES COMMISSION OF THE STATE OF CALIFORNIA
March 8, 2013
BEFORE THE PUBLIC UTILITIES COMMISSION OF THE STATE OF CALIFORNIA
Originally Served: January 11, 2013
Revised Served:
February 15, 2013
BEFORE THE PUBLIC UTILITIES COMMISSION OF THE STATE OF CALIFORNIA
Date: January 11,
2013
BEFORE THE PUBLIC UTILITIES COMMISSION OF THE STATE OF CALIFORNIA
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