The Springfield herald., 1914-10-23

eGmsh TS aii sninieis .r .uas e sSsr 1sSsraSSs ~
commission shall hold a hearing and
may make such additional INQUIRY =
contracts and require the fliinx q
as sne. 's Is. eS msy BY " Il: or:
der grant Permission for the issue Of
Sona. ne.s: or otSs
debtedness In the amount applied fof,
CT In lesser amount. or not at Al. and
4 may deem reasonable and necessary.
q III bonds nosss or . other eSi sHiasnc:s ssu q
indebtedness. less than. equivalent to
than ,tosk of
ity corporation. and the provisions of
the statutes of this State. in so far as
ness. ev!denced BY bonds. notes or 9TH
lzed or subscribed capital stock shall
have hay NO application to publie utilities.
NS nha appH sh: sh:
ssqs aee otSer Se tesk eydenee of n
specified in the commission's order. or
amount authorized for such purpose.
aT than ose on
thereof. @ 'A pubic St,,ity "on''f..Ss may is.as
Violation Of any any provision f Of this ' act ct
or any other act. nayable at periods
the date Of issuance OF the same. with
b.. NO 81 such nnas note shall In whole or i1
bonds. notes of any term or. character
without, the consent q the cemmis.
sion; No public utility shall have
consolidation. lease or merger. or is
sue any bonds. notes or other evidences
The commission shall have no power
to- authorize the capitalization Of the
thorize the capitalization Of any fran
chise or permit whatsoever or tho
such Franchise or % PERMIT " In esses Excess any of
the amount 1exclusiye of any tax or
thereof as the consideration for the
grant of such franchise. permit or
right.
tc) The commission shall have the
power to require public utilities to ac-
ceeds Of all sales OF stock and stock
er evidenccs Of indebiedness. IN in such such
form and detail as It may deem ad-
and regulations as 1t NAV deem rea-
sonable and necessary to insure the
of %sh for the
order.
(d) All stock and every stock cer-
tificats and every bond. note. or 9th
lie utility. issued without an order of
tho commission authorizing the same
then In effect shall be void. and like
syiSsnes Of indeessdns.s. q pasiio
Of the commission but not conforming
in its provisions to the provisions. II
" tss eS 1hs
to contain. shall be void: but no fail
ar: % IN any other respect to comply
sion shall render void any. stock or
otSsF Of
as a. to q co.poration or person takine
aes sics. ior ya'ue ana without ae'Da' no.
te) Every. public utility which. di-
Frsey or issues or 70
q indebtedness. in noneonformity with
Ing the same. or contrary to the pro-
visions Of this act or Of the constitu-
proceeds from the sale thereof or any
part thereof. to any purpose other than
the commissions order in excess Of the
such purposes. is subject to penalty
OF not more than twenty thousand
dollars Tor each offense.
(f) Every officer. agent or employee
of a public utility. and every other
person who knowingly authorizes d.
causes to be issued or executed. any
stock or stock certificate or bond. note
With the opasr 81
commission authorizing the same. or
contrary to the .proyisions of this act.
commission. knowingly makes any
Mh Of It's fasy lies
causes to be filed with the commits
sion any false statement OF. represent
alton. which said statement or repre-
sentation so made, filed or caused to
be filed may tend in anv way to influ-
authorizing. the issue of any stock or
stock certificate. or any bond. note or
which results in procuring from tho
commission the making of any such
order: or who. with knowledge that
was made to the commission. In any
proceeding. tendine in anv way to In
an order. issues or executes negoti-
ates. or causes to be issued. executed
dence of indebtedness. or who. directly
ea cr ss ps sps tSs
ceeds or any part thereof. from the
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
son's order in excess of the
amount authorized for such pur-
pose. or who. with Knowledge that
amy 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.
tE) No provision of this act. and no
Coed or act done or performed under
held or construed to obligate 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 Indebtedness. authorized.
issued or executed under tho provisions
of this act.
(h) 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
filed. taken or had. or other proceed
ings 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. notes or
have been obtained from the commits
sion nrIor n Nnch fA4uA The cOmmiA