Section 105.10  Routine Bank Transactions

 

The opening of bank accounts, deposit of monies in such accounts, the withdrawal of monies from such accounts by checks, drafts, bills of exchange or otherwise, the making of time deposits with banks, the purchase from banks, at not to exceed prevailing market prices, of obligations of the United States maturing not more than five years thereafter, the sale to banks of such obligations of the United States at not less than prevailing market prices, and the making use of routine custodial and handling services of banks with respect to securities at not to exceed standard charges, all in the ordinary course of business, are not considered to be contracts or arrangements within the purview of the provisions of Section 7-102(g) and (h) of the Illinois Public Utilities Act ("Act") [220 ILCS 5/7-102(g) and (h)].

 

(Source:  Expedited correction at 20 Ill. Reg. 7557, effective January 1, 1996)

 

Section 105.20  Donations, Contributions and Memberships

 

Donations and contributions to charitable organizations, relief funds (including funds for the relief of employees), community chests, civic enterprises and other organizations and institutions of similar character not organized or conducted for pecuniary profit, and the payment of membership fees and dues on behalf of either a utility or its employees to trade associations, chambers of commerce, service clubs and other organizations conducted for civic or business improvement, are not considered to be within the purview of Section 7-102(g) and (h)  of the Act.

 

(Source:  Amended at 19 Ill. Reg. 16821, effective January 1, 1996)

 

Section 105.30  Investments

 

The investment by a utility of its funds in obligations of the United States or of any body corporate or association organized or created by Act of the Congress of the United States as may from time to time be approved by this Commission for such investment or in obligations of the State of Illinois or of any county, city, school district or other political subdivision thereof, or in its own stock or securities is not considered to be within the purview of Section 7-102(g) and (h) of the Act. In addition, any utility may, without the approval of the Commission, invest its funds in any other obligations or investments, except real estate mortgages, in which trust funds may lawfully be invested under the provisions of the Trust and Trustees Act [760 ILCS 5].

 

(Source:  Amended at 19 Ill. Reg. 16821, effective January 1, 1996)

 

Section 105.40  Sales and Leases and Other Transactions which need not be filed or approved

 

a)         Pursuant to Section 7-102 of the Act, and subject to the other provisions of this Part, the Commission hereby waives, as to all public utilities, the filing and necessity for approval of:

 

1)         sales of property involving a consideration of not more than $300,000 for utilities with gross revenues in excess of $50,000,000 annually and a consideration of not more than $100,000 for all other utilities;

 

2)         leases, easements and licenses involving a consideration or rental of not more than $30,000 for utilities with gross revenues in excess of $50,000,000 annually and a consideration or rental of not more than $10,000 per year for all other utilities;

 

3)         leases of office building space not required by the public utility in rendering service to the public;

 

4)         the temporary leasing, lending, or interchanging of equipment in the ordinary course of business or in case of an emergency; and

 

5)         purchase-money mortgages given by the public utility in connection with the purchase of tangible personal property where the total obligation to be secured shall be payable within a period not exceeding one year.

 

b)         The foregoing waiver shall not apply to any sale, lease, easement, license or other transaction involving more than 10 percent of the assets of the public utility participating therein.

 

c)         The foregoing waiver shall not apply to any such sale, lease, easement, license or other transaction by a public utility with its employees or their agents where the consideration therefor is more than $500 and not determined in the manner provided by 83 Ill. Adm. Code 310.70 or by  Section 2-328 of the Uniform Commercial Code [810 ILCS 5/2-328] and Section 1 of the Auction Sales Sign Act [720 ILCS 225/1].

 

(Source:  Amended at 19 Ill. Reg. 16821, effective January 1, 1996)

 

Section 105.50  Application to All Utilities (Repealed)

 

(Source:  Repealed at 19 Ill. Reg. 16821, effective January 1, 1996)