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ROBERT L. EHRLICH, JR., Governor Ch. 5
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(B) THIS PERIOD SHALL BE EXTENDED BY ANY PERIOD DURING WHICH
JUDICIAL PROCEEDINGS FOR REVIEW MAY BE PENDING IN ACCORDANCE WITH §
7-528(C) OF THIS SUBTITLE.
7-533.
(A) AT THE REQUEST OF AN ELECTRIC COMPANY, THE COMMISSION MAY
ADOPT A QUALIFIED RATE ORDER PROVIDING FOR RETIRING AND REFUNDING RATE
STABILIZATION BONDS IF THE COMMISSION FINDS THAT THE FUTURE QUALIFIED
RATE STABILIZATION CHARGES REQUIRED TO SERVICE THE NEW RATE
STABILIZATION BONDS, INCLUDING TRANSACTION COSTS, WILL BE LESS THAN THE
FUTURE QUALIFIED RATE STABILIZATION CHARGES REQUIRED TO SERVICE THE
RATE STABILIZATION BONDS BEING REFUNDED.
(B) ON THE RETIREMENT OF THE REFUNDED RATE STABILIZATION BONDS,
THE COMMISSION SHALL ADJUST THE RELATED QUALIFIED RATE STABILIZATION
CHARGES ACCORDINGLY.
7-534.
(A) AT THE REQUEST OF AN ELECTRIC COMPANY, THE COMMISSION MAY
MODIFY AN EXISTING QUALIFIED RATE ORDER, OR ISSUE AN ADDITIONAL
QUALIFIED RATE ORDER, PROVIDING FOR THE ISSUANCE OF:
(1) ADDITIONAL RATE STABILIZATION BONDS FOR RATE STABILIZATION
COSTS NOT RECOVERED UNDER AN ORIGINAL QUALIFIED RATE ORDER; OR
(2) NEW RATE STABILIZATION BONDS FOR THE COMBINED PURPOSES
OF:
(I) FINANCING AND RECOVERING RATE STABILIZATION COSTS
NOT RECOVERED UNDER AN ORIGINAL QUALIFIED RATE ORDER; AND
(II) SUBJECT TO § 7-533 OF THIS SUBTITLE, RETIRING AND
REFUNDING EXISTING RATE STABILIZATION BONDS.
(B) UNLESS OTHERWISE PROVIDED IN THE MODIFIED OR ADDITIONAL
QUALIFIED RATE ORDER OR IN THE TRUST AGREEMENT SECURING THE ADDITIONAL
OR NEW RATE STABILIZATION BONDS, THE ADDITIONAL OR NEW RATE
STABILIZATION BONDS ARE:
(1) CONSIDERED TO BE OF THE SAME ISSUE AS THE ORIGINAL ISSUE;
AND
(2) ENTITLED TO PAYMENT FROM THE SAME FUNDS AS THE ORIGINAL
ISSUE, WITHOUT PREFERENCE OR PRIORITY OF THE RATE STABILIZATION BONDS OF
THE ORIGINAL ISSUE.
7-535.
(A) A RATE STABILIZATION BOND ISSUED UNDER THIS PART IS NOT A DEBT,
LIABILITY, OR A PLEDGE OF THE FULL FAITH AND CREDIT OF THE STATE OR ANY
OTHER GOVERNMENTAL UNIT.
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