69-3-1607. Effect of financing order.
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/mt/title-69/chapter-3/part-16/69-3-1607·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
69-3-1607 . Effect of financing order.
(1)A financing order remains in effect until the Montana energy impact assistance bonds issued as authorized by the financing order have been paid in full and all financing costs related to the bonds have been paid in full.
(2)A financing order remains in effect and unabated notwithstanding the bankruptcy, reorganization, or insolvency of an electric utility to which the financing order applies or any affiliate of the electric utility or successor entity or assignee.
(3)A financing order is irrevocable, and the commission may not reduce, impair, postpone, or terminate Montana energy impact assistance charges approved in a financing order or impair Montana energy impact assistance property or the collection or recovery of Montana energy impact assistance revenue.
(4)Notwithstanding subsection (3), on its own motion or at the request of an electric utility or any other person, the commission may commence a proceeding and issue a subsequent financing order that provides for refinancing, retiring, or refunding Montana energy impact assistance bonds issued pursuant to the original financing order if:
(a)the commission makes all of the findings specified in 69-3-1606
(1)with respect to the subsequent financing order; and
(b)the modification provided for in the subsequent financing order does not impair in any way the covenants and terms of the Montana energy impact assistance bonds to be refinanced, retired, or refunded.