61-902. PETITION FOR AUTHORITY — NOTICE AND HEARING — ORDER — REFUND. Such public utility shall, by written petition, filed with the commission and setting forth the pertinent facts involved, make application to the commission for an order authorizing the proposed issue, assumption or guarantee of securities, and the application of the proceeds therefrom for the purpose specified in such application. The commission shall, after such hearing and upon such notice as the commission may prescribe, enter its written order approving the petition and authorizing the proposed securities transactions, unless the commission, for good cause shown, shall find: That such transactions are inconsistent with the public interest and not necessary or appropriate for or consistent with the proper performance by applicant of service as a public utility; or that the purpose or purposes thereof are not permitted by this act.
History:
[61-902, added 1951, ch. 143, sec. 1, p. 333.]