The Springfield herald., 1914-10-30

commission shall hold a hearing aAd
may make such additional Inquiry Se
contracts and require. the fiiinE. q
snes. e. 'ass n. eomm,..ics Rs qe may BY is or:
der grant permission for the issue of
Sona. nSa.: OF Of ossa e.
debtsdness in the amount applied for,
CT In lesser amount. or not At Al. and
mission such condition or conditions as
II may deem reasonable and necessary,
u Pi eonds sHsen notes. or As other saidsness q
indebtednesa. les. than. equivalent to
.o:k to: OF psSs
the statutes of this state In so far as
creation BY Corporations of Indebted
ness, evidenced by bonds. notes or 9TH
i.ed or subscribed capital stock shall
No PUBLIC SS.iilty sH.M; wi.hoS. , r.: r.:
or bond. note or other. evidence of In
nroeesds thereof. to any paTposs not
speclfied In the commission's order. or
ofsr @ ssess. the Of the
amount authorized for such purpose.
or issue or dispose Of the same on any
thereon. ts Of '4 4 pubic Utility n'i may issue
Violation ] % OF sns any provison . fd 81 this % act ct
or any other act. payable at periods
but no such note shall. in whole or q
Stocks or stock ceTt,fisate.. % or 81
bonds. notes of any term or character
oess ss Of Of n.
Sn pom.r No so o.pn.. uy anH eon,sae. s s
n n N q n ~ DA nr In
sue any bonds. notes Or other evidsness
Of inds sbtedness as . lien thereon With
The commission shall have no power
to. author,ze the capitaiization Of the
tG the se Of ar to rs%
chise or permit whatsoever or the
right to own. operate or enjoy any
the amount texclusive of any tax or
annual charge) actually paid to the
thereof AS the consideration for the
flsht. F5an. OF '0'h franchise permit or
(c) The commission shall have the
count for the disposition OF the pro-
cceds of all sales of stock and stock
o and sSs
visable. and 70 estabilsh such rules
sonabie and necessary to Insure the
disposition of such proceeds for the
ordsT. ~
tiflcste. and every bond. note. or 9TH
or evidence of indebtedness. of a pub
the thu eommission authorisins the same
then IN IN, effect effect shall be void; and Ike
evidence d e' Of inaebtednes.. ] 't Of a a public d
utility. issued with the authorization
in its provisions to the provisions, II
any. which Il is REQUIRED by tho or
so 81 Ss soa se en' but no i
With the terms Or conditions Of the Or
sion shall render void any, stock or
stSek esE;tificate; or any bond note or
tha, same otherwise than in good faith
s1oa srs for value and without actual mo-
(e) Every public utility which. d.
rectly or Indirectly. issues or causes to
be issued. any stock or stock certifi-
of indsbtednsss, in nonconformity with
the order of the commission authoris-
Vision ms Of A hi. az act. s or Of the @ eonstit1- @ @
tion of this State. or which anplies the
proceeds from the sale thereof. or any
the purpose or purposes specified In
the commission's order. as herein pro-
the commission's order in excess Of the
amount In said order authorized for
e9 not %ors than
dollars for each offense.
90 Every officer. agent or employee
Who o'afr ar
rects, aids in Issuing or executes. or
causes to be Issued or executed. any
or other evidence of Indebtedness. in
non-conformity with the order of the
contrary to the provisions Of this act.
or of the constitution of this State.
or who VI In any pr1eeedlns rs, before the
Wis fsisty ie.
sion any false statement or represent
alton. which said statement or repre-,
% be fiied may S tend % in e ae1 Way M osHH to influ 10
ence the commission to make an order
authorizing the issue of any, stock or
other evidence. Of Indebtedness. or
which, results in procuring from the
order: or who. with knowledge that
any false statement or representation
was ,.on;a made to & the commission. IN in any
fluence the commission to make such
an order. issues or executes or negoti.
or negotiated any such stock or stock
certificates. or bond. note or other eyi-
or indirectly. knowingly applies. or
\ causes or assists to be applied the pro
ceeds or any part thereof. from tho
sale of any stock or stock certificate.
or bond. note or other evidence of in
debtedness. to any purpose not speci-
fled in the commissions order. or to
any purpose specified in the commits.
amount authorized for such pnr-
pose. who. with knowledge that
nny stock or stock certificate. or bond.
note or other evidence OF indebtedness.
has been issued or executed in viola
tion of any of the provisions of this
act negotiates. or causes the same to
be negotiated. shall be guilty of a fell
ony. and punished accordingly.
.rtg) No provision of this act. and no
Geed or act done or performed under
or in connection Herewith shall be
hold or construed to obliEate the State
of Colorado to pay or guarantee. in
any manner whatsoever. any stock or
stock certificate. or bond. note or 9TH
er evidence of inde btedness. authorized.
Issued or executed under the provisions
of this act.
CHI All stocks and stock certificates.
and bonds. notes and other evidences
of indebtedness issued by anv public
utility after this act takes effect upon
the authority of any articles of incor-
poration or amendments thereto or
vote of the stockholders or directors
inEs taken or had. previous to the TAX
ing effect of this act. shall be void.
unless an order of the commission au-
thorizinE the issue of such stocks or
stock certificates. or bonds. note. or
other evidences of indebtedness shall
have been obtained from the commits
sion prior to sucn Issue. The commits