Connecticut Administrative Code › Title 16 - Public Service Companies › 43 - Approval by the Department of Public Utility Control for the Disposition of Certain Assets of Public Service Companies › Petitions and Applications, Sec. 16-43, Gen. Stat › Section 16-43-3 - Special components

Current through July 10, 2024
In addition to the requirements stated in Part 1 of this
				  article, each application for the approval of the department of public utility
				  control under section
				  16-43
				  of the General Statutes shall contain the following data, either in the
				  statement of application or as exhibits annexed thereto and accompanying the
				  application:
(a)
Mergers,
				consolidations, security issues.
(1) A
				statement of financial condition of the applicant. If the applicant is to be
				merged with another company, a statement of financial condition of any company
				with which the applicant is to be merged. Such statement will reflect the
				financial condition of the surviving company before and after the transaction
				for which approval is sought.
(2) A
				copy of any agreement to merge, consolidate, sell, lease, assign or
				mortgage.
(3) General description
				of applicant's property and field of operation, the original cost of its
				property and equipment (individually or by class), the cost thereof to
				applicant, the depreciation and amortization reserves applicable to such
				property and equipment (individually or by class).
(4) The amount of bonds, notes or other
				evidence of indebtedness the applicant desires to issue, with terms, rate of
				interest, and whether and how secured; the amount and description of any
				indebtedness the applicant desires to assume; the amount and kind of stock or
				other evidence of interest or ownership the applicant desires to issue and, if
				such stock is preferred, the nature and extent of the preference.
(5) A copy of any deed of trust, security
				agreement, mortgage, conditional sales contract, note or other instrument
				defining the terms of the proposed security, any plan or offer or agreement for
				the reorganization or readjustment of indebtedness or capitalization, and any
				plan for the retirement or exchange of securities.
(6) A statement of the purpose for which the
				securities are to be issued, including but not limited to the following facts:
(A) If for property acquisition, a detailed
				description thereof, the consideration to be paid therefor, and the method of
				arriving at the amount.
(B) If for
				construction, completion, extension or improvement of facilities, a description
				thereof in reasonable detail, the cost or estimated cost thereof, and the
				reason or necessity for the expenditures.
(C) If for improvement of service, a
				statement of the character of the improvements proposed, or if for maintenance
				of service, a statement of the reasons why service should be maintained from
				capital.
(D) If for discharge or
				refunding of obligations, a full description of the obligations to be
				discharged or refunded, including the character, principal amount, discount or
				premium applicable thereto, date on which incurred, date of maturity, rate of
				interest, and other material facts concerning such obligations, together with a
				statement showing the purpose for which such obligations had been incurred or
				the proceeds expended, and any decision of the department authorizing that such
				obligations be incurred.
(E) If for
				the reorganization or readjustment of indebtedness or capitalization, or for
				retirement or exchange of securities, a full description of the indebtedness or
				capitalization to be readjusted or exchanged; complete terms and conditions of
				the merger, consolidation, exchange or other reorganization; a pro forma
				balance sheet (where applicable) giving effect to such reorganization,
				readjustment or exchange; and a statement of the reason or necessity for the
				transaction.
(F) If for
				reimbursement of monies actually expended from income, or from any other monies
				in the treasury, a general description of the expenditures for which
				reimbursement is sought, the source of such expenditures, the periods during
				which such expenditures were made, and the reason for necessity for such
				reimbursement.
(7) A
				complete description of any obligation or liability to be assumed by the
				applicant as guarantor, indorser, surety or otherwise the consideration to be
				received by applicant, and the reason or necessity for such action.
(8) A copy of the latest proxy statement sent
				to the stockholders and the last annual report to stockholders by the applicant
				or by its parent company, where applicable.
(9) A copy of all statements, reports,
				applications and exhibits filed with the Securities and Exchange Commission
				(S.E.C.) or any other regulatory agency in connection with the issuance of said
				securities by the applicant, its parent company, or any other company
				affiliated therewith, whose capital stock is registered with the S.E.C.
				pursuant to the provisions of the Securities Exchange Act of 1934. The
				materials annexed pursuant to this subsection shall further include a copy of
				the latest proxy statement sent to stockholders by the applicant, its parent
				company or any other company in connection with the issuance of said securities
				in compliance with the rules of the S.E.C.
(10) A description of the property involved
				in the transaction, including any franchises, permits, or operative rights;
				and, if the transaction is a sale, lease, assignment, merger or consolidation,
				a statement of the book cost and the original cost, if known, of the property
				involved.
(11) A certified copy of
				the Board of Directors' Resolutions approving the initiation of the proposed
				transaction. Additionally, when available, but prior to final action by the
				Department, the applicant shall submit a certified copy of the Board of
				Directors' Resolutions approving the transaction.