Florida Senate - 2005                      COMMITTEE AMENDMENT
    Bill No. SB 1366
                        Barcode 643422
                            CHAMBER ACTION
              Senate                               House
                                   .                    
                                   .                    
 1                  WD             .                    
       03/14/2005 10:15 AM         .                    
 2                                 .                    
                                   .                    
 3                                 .                    
                                   .                    
 4  ______________________________________________________________
 5  
 6  
 7  
 8  
 9  
10  ______________________________________________________________
11  The Committee on Communications and Public Utilities
12  (Constantine) recommended the following amendment:
13  
14         Senate Amendment 
15         On page 12, lines 24-31 and page 13, lines 1-13, delete
16  those lines
17  
18  and insert:  5.  Within 120 days of the issuance of storm
19  recovery bonds, the electric utility shall file with the
20  Commission information on the actual costs of the storm
21  recovery bond issuance. The Commission shall review such
22  information to determine if such costs incurred in the
23  issuance of the bonds resulted in the lowest overall costs
24  that were reasonably consistent with market conditions at the
25  time of the issuance and the terms of the financing order. The
26  Commission may disallow any incremental issuance costs in
27  excess of the lowest overall costs by requiring the utility to
28  make a contribution to the storm reserve in an amount equal to
29  the excess of actual issuance costs incurred (and paid for out
30  of storm recovery bond proceeds) and the lowest overall
31  issuance costs as determined by the Commission. The Commission
                                  1
    2:24 PM   03/04/05                              s1366.cu22.00m


    Florida Senate - 2005                      COMMITTEE AMENDMENT
    Bill No. SB 1366
                        Barcode 643422
 1  may not make adjustments to the storm recovery charges for any
 2  such excess issuance costs.
 3  
 4  
 5  
 6  
 7  
 8  
 9  
10  
11  
12  
13  
14  
15  
16  
17  
18  
19  
20  
21  
22  
23  
24  
25  
26  
27  
28  
29  
30  
31  
                                  2
    2:24 PM   03/04/05                              s1366.cu22.00m