Stating the basis for the disapproval Clause Samples

Stating the basis for the disapproval. At the request of an electric utility, the commission may open a proceeding and issue a subsequent financing order that provides for refinancing, retiring, or refunding securitized bonds issued pursuant to the original financing order if the commission finds that the subsequent financing order satisfies all the criteria specified in Sections 1 to 15 of this Act. Effective upon retirement of the refunded securitized bonds and the issuance of new securitized bonds, the electric utility shall adjust and the commission shall approve the related securitized surcharges accordingly.