The Elbert County tribune., 1912-10-18


of the line. plant or system OF any
other public utility already construct
ed. the commission. on complaint OF the
public utility claiming to BE Injurious
iy affected, may after hearing, make
such order and prescribe such terms
and conditions for the iocation OF the ae
1t may seem just and reasonable; ana
provided further. that neither said
other consent shall be given or granted
70 an applying public utility FOR the
right to construct or operate tele.
railway plant of system or business in
any city. town. village or locality then
occupied by another such utility. CIV
and capable of serving said city. town.
village or locality under its then exist
ing plant or system. or as the same
may be extended or constructed.
tb) No public utility of a class spe,,
Gifted In subsection ta) hereo1 snaii
ilege under any franchise or permit
hereafter granted. or under any IRAN
chise or permit heretofore granted but
the exercise of which. has been sus-
pended for moro than one year, with
mission certificate that PUBLIC con-
venience and necessity require the ex-
ercise of such right or privilege; pro,
vided, that when the commission shall
find, after hearing. that public util-
ity has heretofore begun actual con-
struction work and Is prosecuting sucn
work, In good faith. uninterruptediy
and with reasonable diligence In pro-
portion to the magnitude of the under.
heretofore granted but not heretofore
actually exercised. such pubic utility
may proceed to the completion OF such
work. and may. after such completion.
exercise such right or privilege: pro-
vided. that nothing in this act con-
tained shall prevent any utility from
or granted by the constitution or gen.
erai laws of the state OF Colorado.
(c) Before any certificate may Issue.
under this section. a certified copy of
its articles of incorporation or cnar-
ter. II the applicant be a corporation
mission. The commission shall have
power, after hearing, to issue said GER
tificate, as prayed for, or to refuse 20
construction OF a portion only OF the
contemplated street railroad. line, plant
or system. or extension on thereoi o1 said r,pbt
or privilege. and may attach to the
exercise of the right granted by said
in it's Judgment the public convenience
and necessity may require. II public
utility desires to exercise a right or
privilege under a franchise or permit
which 1t contemplates securing but
which has not as yet been granted TO
4, such public utility may aSo apply , TO
mary to the issue of the certificate.
The commission may thereupon make
rules and regulations as 1t may pre-
scribe. issue the desired certificate.
may designate. after the public. utility
has obtained the contemplated fran
chise OF. permit. Upon the presenta-
isfactbry to 1t that such franchise or
permit has been secured by such public
utility the csmmissen shall thereupon
Section A. Every public utility cor
poration shall have the right to pur-
chase or otherwise acquire. and to take,
OF the capital stock of any other public
utility engaged. in the same general
fSa aws Gr of tbs sa
or any other state, and doing business
in this state. or any other state or
cupied BY such purchasing utility; pro-
vided. however. that a utility may not
purchase the stocks or bonds Of an
other utility engaged In different
class of business.
Section AZ. (a) A public utility may
issue stocks and stock certificates, and
Sond Ses pagabie at peeiods OF
more than twelve months after the
date thereof, for the following, pur-
QUESTION of property. or for the con-
struction, completion, extension or I'M
provement of It's facilities. plant. sys-
Improvement or maintenance OF its
service, or for the discharge or lawful
refunding OF It's 9bligasions, sotiST or i1r the the
pended from income or from any other
moneys in the treasurey of the public
the issue Of stocks or stock certificates,
or bonds, notes or other evidences of
Indebtedness of such public utility.
ing Of an application with the COM
mission for the required authorization,
for any of the aforesaid purposes ex-
cept maintenance of service and re-
placements. In cases where the appli-
cant shall have kept Its account and
vouchers for such exPssnditures, pen ,ss, IN such
ascertain the amount of moneys so ex-
pended and the purposes, for which
such expenditure was made; provided,
that such public utility, in addition to
the other requirements of law. shall
first have secured from the commits
sion an order authorizing such issue.
and stating the amount thereof and the
purpose or purposes to which the is
sue or the proceeds thereof are to be
applied and that, in the opinion of the
commission. the money. property or la
bor to be procured or paid for by such
issue is reasonably REQUIRED for the
order, and that. except as otherwise
permitted in the order in the case of
bonds, notes or other evidences OF In
debtedness such purpose or purposes
are not. in whole or In part. reasonably
chargeable to operating expenses or to
whether II will issue such order, the
commission may hold hearing. and
may make such additional inquiry or
investigation. and examine such wit
nesses. books, papers. documents and
contracts and require the filing of such
data as 1t may deem of assistance. The
commission may by Its order grant
permission for the issue of such stocks
or stock certificates, or bonds. notes or
other evidences of Indebtedness in the
amount applied for, or in lesser
amount, or not at all. and may attach
to the exercise of Its permission such
condition or conditions as it may deem
reasonable and necessary. The
mission may authorize issues of bonds
notes or other evidences of Indebted
ness, less than, equivalent to or greater
than the authorized or subscribed cap
ital stock of a public utility corpora
tion. No public utility shall. without
the consent of the commission, apply
the issue of any stock or stock GER
tificate. or bond. note or other evil
dence of Indebtedness. or any part
any purpose not specified In the com
missions order. or to any purpose spe-
IL L.