Oklahoma Administrative Code › Title 785 - Oklahoma Water Resources Board › Chapter 11 - Acquisition of Assets and Control of Rural Water Districts and Corporations › Subchapter 3 - Application and Hearing Requirements › Section 785:11-3-1 - Application requirements

Current through Vol. 41, No. 20, July 1, 2024
(a)
General.
Prior to making an offer for, entering into an
										agreement for, seeking to acquire, merging with, or acquiring the assets and control of a rural water
										district or corporation, an acquiring party shall file with the Board an application and obtain the Board's
										approval of the proposed transaction. All applications for approval of acquisitions of assets and control
										must be made under oath or affirmation and completed by the acquiring party either on written forms as may be
										provided by the Board or in such other written form as the Board may require.
(b)
Application by a domestic water public utility.
If the
										acquiring party is a domestic water public utility, the application shall contain the following information
										and items unless deemed inapplicable and waived by the Board or its staff:
(1) The full, true and correct legal name, principal office location and
										mailing address for both the acquiring party and the acquiree;
(2) The authority of law under which the acquiring party was created and is
										existing, the independent legal authority under which the application is made, and identification of the
										acquiring party as a municipality, public trust, rural water district, or other public entity;
(3) A certified copy of the resolution or other specific authorizing
										instrument reflecting the acquiring party's authorization for making the subject application to the
										Board;
(4) Current and complete maps of the service areas of the
										acquiring party and acquiree, preferably in a geographic information systems format acceptable to the
										Board;
(5) A description of the water system and operation
										thereof, including but not limited to water sources, treatment facilities, storage capacity, system design,
										annual average unaccounted-for losses, personnel certifications, customer base, and rate structure for both
										the acquiring party and the acquiree;
(6) A statement of the
										manner and means by which the acquiring party intends to fund and complete the acquisition;
(7) A certified copy of the acquiring party's previous three (3) years'
										annual audits, if available, and a statement of the acquiring party's financial condition including a current
										statement of all outstanding indebtedness of the acquiring party and its related entities, including but not
										limited to all outstanding general obligation or revenue debt, which might affect the acquiring party's
										overall financial condition;
(8) A description of the nature and
										division of ownership or other legal or equitable interest in the assets to be acquired, if other than
										complete ownership by the acquiring party;
(9) A description of
										all rights to water supply, including water supply contracts, water rights, licenses or permits, whether
										existing under federal, state or local law or regulation, for both the acquiring party and the
										acquiree;
(10) A description of any plans the acquiring party may
										have to make any material change in the acquiree's assets, system or operations which would affect the
										service provided to the acquiree's customers, including but not limited to the acquiring party's future
										capital improvement plans, if any, for both the acquiring party and the assets to be acquired;
(11) A copy of the offer or draft agreement for the proposed acquisition,
										together with any information whether the acquiree has indicated it will object to or consent to the proposed
										acquisition;
(12) If the acquiree has creditors, the application
										shall include the written approval of the proposed acquisition by all creditors of the acquiree, or otherwise
										shall describe how the creditors will be protected and paid; and
(13) Such additional information as may be deemed necessary by the Board or
										its staff for proper application review under the particular facts and circumstances of the acquisition
										proposal.