No utility shall issue or renew any notes, bonds, or other evidences of indebtedness payable less than 12 months after the date thereof without approval by the commission for a waiver pursuant to Puc 201.05 if such short term debt exceeds 10 percent of the utility’s net fixed plant.
Source. (See Revision Note # 1 and Revision Note #2 at chapter heading for Puc 500) #13794, eff 10-25-23