Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 601 - RULES OF PRACTICE AND PROCEDURE BEFORE THE PUBLIC UTILITIES COMMISSION › Subchapter 9 - APPLICATIONS TO ISSUE STOCK OR EVIDENCES OF INDEBTEDNESS, OR TO ASSUME LIABILITIES › Section 16-601-101 - Contents

Current through June, 2024
(a) An application for authority to issue
				stock and stock certificates or bonds, notes, leverage leases, and other
				evidences of indebtedness payable at periods of more than twelve months after
				the date thereof shall comply with sections 16-601-15 to 16-601-24 and section
				16-601-74 and shall contain the following data either in the body of the
				application or in exhibits attached to the application:
(1) A general description of the applicant's
				property and the types of public utility service it provides;
(2) The amount and kind of stock or other
				evidence of interest or ownership that the applicant proposes to issue and, if
				preferred, the nature and extent of the preferences; the amount of bonds,
				notes, or other evidences of indebtedness that the applicant proposes to issue,
				together with terms and rate of interest, and a description of the manner in
				which the bonds, notes, or other evidences of indebtedness are to be secured,
				if at all; the amount and description of the indebtedness that the applicant
				proposes to assume, to the extent that information is known to the applicant at
				the time the application is filed;
(3) If the issuance of securities is to be by
				negotiated bid rather than by competitive bid, the justification for that
				course of action;
(4) Purposes for
				which the securities are to be issued, and:
(A) If for property acquisition, a detailed
				description thereof, the consideration to be paid, and the method of arriving
				at the amount;
(B) If for
				construction, completion, extension, or improvement of facilities, a
				description in reasonable detail, the cost or estimated cost, and any
				supporting study to indicate the reason or necessity for the
				expenditures;
(C) If for
				improvement or maintenance of service, a statement of the specific need and
				character of the improvements proposed and 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,
				applicable discount or premium, date of issue, date of maturity, rate of
				interest, and other material facts concerning the obligations, together with a
				statement showing the purposes for which the obligations were issued or the
				proceeds expended and the commission's decisions, if any, authorizing the
				incurrence of the obligations;
(E)
				If for 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, if possible, giving effect to the reorganization, readjustment,
				or exchange; and a statement of the reasons or necessity for the transaction;
				or
(F) If for reimbursement of
				moneys actually expended from income or from any other moneys in the treasury,
				a general description of the expenditure for which reimbursement is sought, the
				source of the expenditures, and the reason or necessity for the reimbursement;
				and
(5) A description of
				any obligation or liability to be assumed by the applicant as guarantor,
				endorser, surety, or otherwise, the consideration to be received by the
				applicant, and the reason or necessity for that action.