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11/09/2021 (3)
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11/09/2021 (3)
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1/25/2022 11:03:54 AM
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1/25/2022 10:32:04 AM
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Meetings
Meeting Type
BCC Regular Meeting
Document Type
Agenda Packet
Meeting Date
11/09/2021
Meeting Body
Board of County Commissioners
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ORDER NO, PSC-2021-0409-FOF-EI <br />DOCKET NO. 20210127 -EI <br />PAGE I 1 <br />new LNG Facility is $58 million. As of June 30, 2021, development, design and construction <br />costs expended on the new LNG Facility were approximately $17.7 million. <br />FCG confirmed that the capital raised pursuant to the Applicants' application will be used <br />in connection with its regulated activities, and not the nonregulated activities of its affiliates. <br />111. Conclusion <br />Having reviewed the application, it is the finding of this Commission that the transactions <br />described in the application will not impair the ability of FPL and FCG to perform the services of <br />a public utility. These transactions are for such lawful purposes within FPL's and FCG's <br />corporate powers and, as such, the application is granted. <br />Our approval of the proposed issuance and/or sale of securities does not indicate specific <br />approval of any rates, terms, or conditions associated with the issuance. Such matters are <br />properly reserved for our review within the context of a rate proceeding. Our approval of the <br />issuance of securities constitutes approval only as to the legality of the issue. In approving the <br />subject financing, we retain the right to disallow any of the costs incurred for ratemaking <br />purposes. <br />Based on the foregoing, it is <br />ORDERED by the Florida Public Service Commission that the application by Florida <br />Power & Light Company and Florida City Gas to issue and sell securities pursuant to Section <br />366.04, Florida Statutes, and Chapter 25-8, Florida Administrative Code, is approved as set forth <br />herein. It is further <br />ORDERED that FPL is hereby authorized to issue and sell and/or exchange any <br />combination of long-term debt and equity securities and/or to assume liabilities or obligations as <br />guarantor, endorser or surety in an aggregate amount not to exceed $7.85 billion during calendar <br />year 2022, for the purposes and in the manner described in the Applicants' application. It is <br />further <br />ORDERED that FPL is hereby authorized to issue and sell short-term securities in an <br />amount or amounts such that the aggregate principal amount of short-term securities outstanding <br />at the time of and including any such sale shall not exceed $4.9 billion during calendar years <br />2022 and 2023, for the purposes and in the manner described in the Applicants' application. It is <br />further. <br />ORDERED that FCG is hereby authorized to make tong -term borrowings from FPL in an <br />aggregate principal amount not to exceed $300 million during calendar year 2022, for the <br />purposes and in the manner described in the Applicants' application. It is further <br />ORDERED that FCG is hereby authorized to make short-term borrowings from FPL in <br />2Z& -/ Z- <br />
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