The Julesburg grit-advocate., 1914-10-22
Senate Bill Ne. 4. Laws 1914

Senate Bill Ne. 4. Laws 1914
Sections Referred-Nos Sc and o..
AN ACT CONCERNING PUBLIC UrIL-
tiles. CREATING A PUBLIC UrIL-
tiles COMMISSION PRESCRIBING
ITS POWERS AND DUTIES AND
REPEATING CERTAIN ACTS AND
PARTS OF ACTS IN CONFLICT
THEREWITH.
Said Sections ss and u being - fol-
lows. to- wit:
Section 3s. (a) No railroad corpora
line corporation. Kas corporation. cleo
tTical corporation. telephOne corpora
tion. telegraph corporation. water cor
pisions of % this act sIi Shsii 10 Seneeforfh 1ee H
sell. lease. assign. MORTGAGE or other
wise dispose of or cucumber the whole
or any part of its railroad. street rail-
or useful in the performance OF its du-
ties to the public. or anv franchise or
permit or any right thereunder. or by
rect. merge or consolidate its rail-
road. street railroad. line. plant or sys-
tenn. or franchises or permits or any
Ssy Without n h.vins fs.s .!sup.d
from the commission an order author-
ising IL 30 to do. Every such sale.
Lease i;an assl4hmsm morsxrEo
dation made other than in accordance
with the order OF the commission au-
thorizing the same shall be void The
permission and approval Of the COM
mission to the exercise Of franchise
or permit under section thirty-five tA)
Of this act. or the sale. lease. assign
sncumbrance or = franchise or permit
strued e revive q validate any lapsed
enlarge or add to the powers or privi-
lsges contained In the grant Of any
franchise or permit. or TO waive any
eonsain.S .h.li BE- eonssrn.d s 70 prs
vent the sale lease or other disposition
by any. public utility OF \ class desig-
mated in this subsection Of property
performances Of lie dutiss 10 the pub
lie. and any sale Of its property by
suoh public utility shall be conclusive
which 10 not useful or necessary in the
performance OF its duties to the public,
% to any purchaser Of such property
II good faith for value
purchase or acquire. take or hold. any
part Of the capital stock Of any other
public utility. operating under and by
cut having been first authorized to do
% by the commission. Every assign
ment. transfer. contract or aRrssmene
81 asn..:. Or or %y
poration to any corporation. or other
wise. in violation Of any Of the provis-
ions of this section shall be void and
be made on the books Of any public
utility. Nothing herein contained shall
Be construed to prevent the holding Of
Section 81. ta) The power OF public
utilities to issue stocks and stock esr-
tifieates. and bonds. notes and other
sts liens on thsir pron.rty situated
within this state is special privilege.
the riEht Of supervision; reEul.tion. re:
hnd control Of rhieh is and
and such power shall be exercised A.
provided by law and under such rules
and regulations a. the commission may
OBJ A public utility NAV Issue stocks
and stock certificates. and bonds. notes
and other evidences of indebtedness
months sftsr the date thsreof. for the
tsn,iy; For the .caais..,oS s Of ii .seh
Il a s for the o sp
construction. completion. extension or
Improvement Of its facilities. or for the
Improvement or maintenance Of its
refundinG Of its obliRations. or for the
reimbursement Of moneys actually ex-
pended from income or from any 9TH
~ AhoHcy0 ku0 lTSU3QIV OF InS p0O-
lie utility not secured by or obtained
g ON the issue of stocks or stock GER
tificates. or bonds; notes or other EVIL
utility. within five years next prior to
the filing Of an application with the
commission for the required authorize
tion. for any Of the aforesaid pur-
and rsplacements. In cases where the
applicant shall have kept its accounts
and vouchers for such expenditures in
Z a n IL ~
sion to ascertain the amount of mon
sys 90 expended and the purposes for
as saeh ih.: sssS ~sff made
sddition to the other reauirement: OF
law. shall first have secured from tn,
commission an order authorizing such
end the purpose or purpose. to which
to be applied, and that. in the opinion
OF the commission. the monsv prop
Tor by such issue 10 reasonably re-
spscifisd IN the order. and that. except
the case OF bonds. notes or other evil
dences of indebtedness. such purpose or
purposes are not. in whole or in part.
psnses or to ineoms. 70 enable It to
determine whether 1t will issue such
order. the commission shall hold a
inquiry or investigation. and examine
such witnessed. books, papers, docu-
ments and contracts and require the
fillinE 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 In
debtedness in the amount applied for,
or in lesser amount. or not at all. and
may attach to the exercise Of its per-
mission such condition or conditions a.
II may deem reasonable and necessary
The commission may authorize issues
or bonds. notes or other evidences of
Indebtedness. less than. equivalent to
or Greater than the authorized or sub
scribed capital stock of . public util-
ity corporation, and the provisions of
the statutes of this State. in 30 far as
they contain inhibitions against the
creation by corporations Of inde BIT ed :
ness. evidenced by bonds notes or 9th :
erwise in excess Of their total author
i1ed or subscribed capital stock shal,
nave no application to public utilities
NO public utility shall. without the
consent OF the commission. apply the
insue OF any stock or stock certificate.
or pond. note or other evidence of in
dsotedness, or any part thereof. or anv
proceeds thereof. to anv purpose
not specified in the commissions or
der. or to any purpose specified in
the commissions order in excess
OF the amount authorized for
such purpose. or issue or dispose OF
the same on any terms less favorable
than those specified in such order. or
n n1ndiffCa finp