The Commission shall publish notice to the public of the application before deciding upon an application for a financing order and provide for a period of no less than 14 days for public comment and filing of motions to intervene. The electric company shall provide notice of the application to its customers in the District as provided in § 34-909 , as this section reads as of May 3, 2014 or as amended or superseded. The District, OPC, and DDOT shall be a party to the Commission proceeding on the application, as a matter of right. Any other person desiring to be heard on the application shall file a motion to intervene with the Commission requesting to be made a party to the proceeding. The applicant and any party to the proceeding may file an answer to support or oppose the granting of the motion. The Commission shall, by order, approve or deny the motion at its reasonable discretion. The Commission shall decide upon an application for a financing order based upon the pleadings in the matter and, if no protest or objection is filed in response to the Commission’s public notice of the application, at its discretion, without a hearing. A formal evidentiary hearing shall only be required if contested issues of material fact are present and those issues cannot be resolved by the Commission on the basis of the pleadings and discovery responses filed, if any, in the matter. In its decision, the Commission may approve, approve with conditions, modify, or reject the application in whole or in part, as it considers necessary and appropriate. The Commission is authorized to issue a financing order if the Commission finds that the DDOT Underground Electric Company Infrastructure Improvement Charges are just and reasonable. The District shall file an issuance advice letter with the Commission by 5:00 pm on the next business day after the sale of Bonds authorized by the Commission pursuant to a financing order. The issuance advice letter shall describe the DDOT Underground Electric Company Infrastructure Improvement Annual Revenue Requirement for the Bonds issued pursuant to the financing order, the average term, and the retirement schedules. If the DDOT Underground Electric Company Infrastructure Improvement Annual Revenue, based on the information in the issuance advice letter, is less than the estimated DDOT Underground Electric Company Infrastructure Improvement Annual Revenue Requirement in the related financing order, the Commission shall adjust the DDOT Underground Electric Company Infrastructure Improvement Charges. No DDOT Underground Electric Company Infrastructure Improvement Charges authorized by the Commission in a financing order may be billed by the electric company to customers before the issuance of Bonds by the District pursuant to subchapter II of this chapter . The Commission shall expedite its consideration of applications for financing orders. The Commission shall issue its decision on the electric company’s application no later than 60 days following the closing of the period for public comment upon the application; provided, that if a protest or objection to the application that can be resolved without an evidentiary hearing is timely filed with the Commission, this period for the Commission’s decision shall be extended by an additional 15 days. This time may be tolled, at the Commission’s reasonable discretion, for periods in which it determines the electric company’s application is deficient. In the event that an evidentiary hearing is required, the Commission shall issue a decision no more than 60 days following the close of the hearing record. The Commission is authorized to retain the services of a financial advisor to assist in its consideration of an application for a financing order, and in the formulation and administration of a financing order. The reasonable fees of the financial advisor shall be paid by the District from Bond proceeds; provided, that the District shall have no responsibility for payments to the financial advisor from any other source. Invoices by the financial advisor for such payments shall be tendered through the Commission, which shall verify the content of the invoice before forwarding the invoice to the District for payment. Payments for services made to the financial advisor shall be deemed to be DDOT Underground Electric Company Infrastructure Improvement Costs. Funds for payments to the financial advisor by the Commission are to be sourced in a similar manner as other DDOT Underground Electric Company Infrastructure Improvement Costs.
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