Gilpin observer., 1912-10-10
.hall interfere or be about to interfers

shall interfere or be about to interfere
of the line. plant or system OF any
other public utility already construct
ed. the commission. on complaint of the
ly affected. may. after hearing, make
such order and prescribe such terms
and conditions for the location of the
lines, plants or systems affected as to
1t may seem just and reasonable: and
provided further. that neither said
n0s pe
to 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 ha or system or as the same
.(b) No public utility of a class spe-
cified in subsection (a) hereof shall
eRe per sight or
hereafter granted. or under any fran
chise or permit heretofore granted but
the exercise of which has been sus-
pended for more than one year, with
out first having obtained from the COM
venience and necessity require the ex.
ercise OF such right or privilege; pro.
vided. that when the commission shall
find, after hearing. that a public util-
ity has heretofore begun actual con-
struction work and is prosecuting such
Hnd UiN with reasonabe sea % diIisenee IN pro
portion to the magnitude of the under
taking. under any. franchise or permit
actually exercised. such public utility
may proceed to the completion of such
work, and may, after such eompletion
exercise such right or privilege: pro-
vided. that nothing in this act con-
tained shall prevent any utility from
exercising any right or privilege given
eral laws of the state of Colorado.
tc) Before any certificate NAV issue;
Its articles of Incorporation or char
ter. IL the applicant be a corporation
shall be filed in the office of the com
mission. The commission shall have
power. after hearing, to Issue said GER
tificate, prayed for, or to refuse to
issue the same. or to issue II for the
contemplated street railroad, line, plant
or system, or extension thereof. or for
the partial exercise only Of SAID right @
exercise of the right granted by said
certificate such terms and conditions as
in its judgment the public convenienee
and necessity may require. If 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
It, such public utility may apply to
the commission for an order prelim-
The commission may thereupon make
an order declaring that 1t VIII there
after. upon application, under such
scribe. issue the desired certificate.
upon such terms and conditions as It
has obtained the contemplated fran
chse or permit. Upon the presenta-
tion to the commission Of evidence sat
isfactory to 1t that such franchise or
permit has been secured by such public
utility, the commission shall thereupon
issue such certificate.
- 10 ar - r.
poration shall have the right to pur-
chase or otherwise acquire. and to take.
hold. own and control. any part or Az
of the capital stock of any other public
utility engaged in the same general
business, organized or existing under
or by virtue Of the laws soin OF thus hssi state
in this state, or any other state or
territory, occupied or about to be oc-
vided. however. that 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
bonds. notes and other evidences OF
Indebtedness payable at perlods oa
date thereof. for the following pur-
poses. and no others. namely, for the ae-
quisition of property, or for the con-
struct ion, completion. extension or i'm
provement of its facilities, plant, sys-
tenn and instrumentalities, or for the
Improvement or maintenance of Its
service, or for the discharge or lawful
refunding of its obligations. or for the
reimbursement of moneys actually ex-
pended from income or from any other
moneys In the treasurey OF the pubic
utility not secured by or obtained from
the issue of stocks or stock certificates,
or bonds. notes or other evidences OF
indebtedness of such public utility.
within five years next prior TO the Ill
ing of an application with the COM
mission for the required authorization.
for any of the aforesaid purposes ex-
cept maintenance OF service, ana re-
placements. in cases where the appn-
cant shall have kept its account and
vouchers for such expenditures In such
manner as to enable the commission to
asce rtain the amount of moneys so ex-
pended and the purposes for which
such expenditure was made: provided.
that such public utility. In ADDITION TO
first have secured from the commits
sion an order authorizing such issue.
and stating the amount thereof and the
sue or the proceeds thereof are to be
applied. and that. in the opinion of the
Dor to be procured or paid for by such
issue is reasonably required for the
purpose or purposes specified In the
permitted in the order In the case OF
bonds. notes or other evidences OF In
debtedness such purpose or purposes
charReable to operating expenses or to
income. To enable 1t to determine
whether IL Will ISSUE sutH tHe
commission may hold a hearing. and
may make such additional inquiry 1nh ,, or
nesses. books, papers, documents and
contracts and require the filing OF such %sh
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 II may deem
reasonable and necessary. The CONF
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
itai stock of public utility corpora
tion. No public utility shall. without
the consent OF the commission. apply
the Issue of any stock or ctock GER
tlficate. or bond. note or otaer evi-
dence OF Indebtedness. or any part
thereof. or any proceeds thereof. to
any purpose. not specified In the SOM
missions order, or to any purpose spe-
cified In the commissions order In ex-