Docket No. TG-971652        Page 1




BEFORE THE WASHINGTON UTILITIES AND TRANSPORTATION COMMISSION


In the Matter of the    ) DOCKET NO. TG-971652
Petition GA-78688    )
of Murrey’s Disposal Co., Inc.,  )
for Authority to Mortgage a   ) ORDER GRANTING
portion of Certificate of Public  ) PETITION
Convenience and Necessity No. G-9 )
       )
. . . . . . . . . . . . . . . . . .)



  A petition was filed with the Commission on 
November 10, 1997, by Murrey’s Disposal Co., Inc., under the provisions of RCW 
81.77.040 for authority to mortgage Certificate of Public Convenience and 
Necessity No. G-9 for the operations of its solid waste collection company.

  The requested authority is for the purpose of securing the sum of $2,000,000 
borrowed by Murrey’s Disposal Co., Inc., from US Bank to consolidate existing 
and additional debt.  The additional debt of $2,000,000 is being used for the 
purchase of Olympic Disposal Co.

  The bank obligation is evidenced by a promissory note written for ten years 
with monthly installments including interest at a fixed rate of 8.4%.  As 
partial security for the note, the applicant has granted the bank a security 
interest in the Certificate of Public Convenience and Necessity No. G-9.

  Internally generated funds of the applicant as set forth in its petition are 
sufficient to meet current and long-term obligations as to the payment of both 
interest and principal.  Under this circumstance, applicant does not appear to 
be adversely affected by the mortgaging of its rights to do business as a 
public service company.

  In the event the proposed indebtedness of the applicant is not repaid and in 
a foreclosure action the aforementioned bank acquires the assets of the 
applicant and Certificate of Public Convenience and Necessity No. G-9, the 
authority granted by this order cannot be construed as waiving the requirements 
of either chapter 81.77 RCW or the Commission’s rules adopted pursuant thereto 
as related to the transfer of said certificate to US Bank.



FINDINGS

  THE COMMISSION FINDS:

  1.  Murrey’s Disposal Co., Inc., is a public service company subject to the 
jurisdiction of the Commission under the provisions of chapter 81.77 RCW.

  2.  As to form, the petition filed herein and the attached exhibits satisfy 
the provisions of RCW 81.77.040.

  3.  Any proposed transfer, assignment or sale of Certificate of Public 
Convenience and Necessity No. G-9, to any other party is not a matter under 
consideration in this order and must be the subject of another application 
filed in accordance with the rules and regulations of this Commission and the 
applicable statute.

  4.  The proposed mortgaging of Certificate of Public Convenience and 
Necessity No. G-9 will not be contrary to the public interest and should, 
therefore, be approved subject to the conditions of this order.

O R D E R

  THE COMMISSION ORDERS:

  1.  After the effective date of this order and subject to the provisions 
hereof, Murrey’s Disposal Co., Inc., is hereby authorized to mortgage 
Certificate of Public Convenience and Necessity No. G-9 to US Bank as partial 
security for a promissory note payable to said bank in the principal amount of 
$2,000,000 due ten years from the date of issue, all in accordance with the 
terms of the petition and attached exhibits filed herein.

  2.  Within 30 days after discharging the $2,000,000 promissory note payable 
to US Bank, Murrey’s Disposal Co., Inc, shall notify the Commission of this 
fact and file the original Certificate of Public Convenience and Necessity No. 
G-9 with the Commission in order to have recorded thereon the release of the 
mortgage lien.

  3.  The authority granted by this order shall not be construed as authorizing 
the transfer, assignment or sale or Certificate of Public Convenience and 
Necessity No. G-9 for any reason whatsoever.

  4.  This order shall in no way affect the authority of this commission over 
rates, service, accounts, valuations, estimates, or determination of costs, or 
any matters whatsoever that may come before it, nor shall anything herein be 
construed as an acquiescence in any estimate or determination of costs, or any 
valuation of property claimed or asserted.

  DATED at Olympia, Washington, and effective this 26th day of November, 1997.

WASHINGTON UTILITIES AND TRANSPORTATION COMMISSION



       STEVE McLELLAN, Secretary