The Julesburg grit-advocate., 1914-10-22

IN this ouosectlon contAiheo eh1u -
construed to prevent the saie, lease eP
ether disposition by any public utility
Of . class desiEnated In this, subsec-
tien Sa pT9peS ,S Of ,s dr
ties to the PUBLIC. and 2nv sale Of ite
property by such puolic utility shall
q property which is not useful or nee
esSary In the perfoF oFmAnce Of its du-
ties to the public. ~ to any purchaser
Of such property in good faith for
OBJ No public utility shall hereafter
purchase or acquire. take or hold. anv
public utility. Operating under and ~
virtue of ths laws Of this State. with
out having been first authorized to-
sisnment. transfer, contract or agree
mont for assignment or transfer er
any stock BY or through any .persea
otherwise. in violation OF any of the
provisions of this section shall be voiA
and of no effect. and NO such transfer
public utility. Nothing herein con-
holding, of stock heretofore lawfully
Section 81. ta> The powes Of public
utilities to issue stocks and stock GER
tificates. and bonds. notes and othsr
evidences Of indebtedness and to Gre.
ate liens on their property situats9
within this State 10 a special privilege.
the right OF superxision; reg i pintion re.
shall continue to be vested in the State.
and such power shall be exercised as
provided by lay and under such rules
and regulations As the commission may
prescribe
OBJ A public utility may Issue stscks
and stock certificates. and bonds, notes
payable at periods of more than twelve
months after the date thereof. for the
namely for p"rnos shs asaui.itlon n" o. sucS
property as is necessary for the prop
er conduct of its business. or for the
Improvement ] % of lis facilities, :.r for
the Improvement or maintenance OF Ito
service. or for the discharge or law
the reimbursement of moneys actually
expended from income or from any
other moneys in the treasury of ths
tanned from the issue Of stocks or
stock certificates: or bonds. notes or
other evidences of Indebtedness of such
prior to the filing of an anDlication
with the commission for the required
authorization. for any Of the afors.
service and replacementa. in cases
where the applicant shall have kept
its accounts and vouchers for such ex-
able the commission to ascertain the
amount OF moneys SO expended and the
PURPOSES for which such expenditures
lie utility. in addition to the other re-
auirements of law. shall first have ss-
enfsi1,n cured from the the c,ommission comm an order
amount thereof and, tho purpose or
purposes to which. the issue or the
ID tse 6eaon en' os :: sSns ns
frocurea or psd fes BY SF .aes Sor i..S. 80
a tn. :ns srdsr SarpSs; s"s
the order in the case Of bonds. notes
such purpose or purposes are not. in
whole or In part. reasonably charge
eem. ee1s to .n.S. e. to In
whether 1t viii issue such order. ths
commission shall hold . hearing and
may make such additional inquiry or
r resses. books. papers; documents and
contracts and require. the filing Of
s%ss s. dss% sn s1 of n:'st 4.
der. grant permission for the issue Of
such stocks er stock certificates. or
debtedness In the amount applied for,
may attach to the exercise Of It's per. per-
il may Deem rsasonssis :. ana s1ness,S %sessssrS
The commission maj. authorize issuse
fanhS, Of bends; Id notes or ether svidsness q
or greater than the authorized Or sub.
ncrfbed capital stock OF . public util.
tss sss. ss Of
they contain inhibitions against the
creation by corporations Of Indebted.
srwise. in eScess - Of their total total sutSor- % @
ixed or subscribed capital stock shall
have no application to public utilities
consent of the commission. apply the
issue of any stock or stock certificate,
or bond. note or other evidence of In
procesds thereof. to any W. purooss s 30 not not
to any purpose specified in the COM
smeant authorized tor e1ssss ssss pnrpos: q, ans
t;rms t;sS les. s favorable than thos. speci
thereof; A public utility may issue
notes: for proper PURPOSES and not IN
Sr :1H Other 9r any Of th. sst
q not more than twelve months after
the date of issuance Of the same. With
hut no such note shall. in Whole 1; or IN
stocks or stock csrtifieatss. or Of
or any other evidsnes % Il nd.btedm.s. 1 sa:sassss
without the consent Of the commits.
sion sion, No ss public utility shall have
consolidation. lease or merger, or ia
sue ~ any bonds: notes Or other evidences
OF out ase e ;S x. ss:s.s. x
The commission shall have no power
Y authorize the capitalization Of the
!yHut 70 De corporation, or to An
thorize the capitalization Of any fran
chise cf or permit Whatsoever or the
such franchise or permit. in excess 81
the amount tsxclusive Of any tax or
annual charRs) actually paid to the
Sssrs fhsrsof or =, to ~, political subdivision
right.
tcl Tn. commission shall have tn.
power to require public utilities TO ao-
count count for the di.po.ition of the pro-
certificates. and bonds, notes and 9th,
er- evidences Of indebtedness. In such
form and detail n It may deem adj
vlssbls. and to establish such ruies
and regulations az 1t NAV deem ro0-
.onable and necessary to insure the
disposition of such proceeds for the
purpose or purposes specified in the
order.
I'D fdl All stock and every stock GER
tificate. and every bond. note, or 9th
sr evidence of indebtedness. OF a pub.
ie utility. issued without an order Of
he commission authorizing the same
then then In effect shall be void. and like
wise all stock and every stock csrtifl.
cato, and eVery hon0 nofa ~ oSkA.