Louisiana Revised Statutes 45:1171 – Security issues; issue or assumption for necessary purpose
Current as of: 2023 | Check for updates
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Terms Used In Louisiana Revised Statutes 45:1171
- commission: means the Louisiana Public Service Commission. See Louisiana Revised Statutes 45:1161
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Public utility: means any person, public or private, subject to the general jurisdiction of the commission but not including carriers by rail, water, electric or motor vehicles or pipelines, or public utilities municipally owned, or operated, or regulated, unless the electors of such municipality, and electors residing outside the municipality, who are customers of the municipally owned utility, have manifested their approval of such jurisdiction as is required by La. See Louisiana Revised Statutes 45:1161
The commission shall not approve any issue or assumption unless, after investigation of the purposes and uses of the proposed issue and the proceeds thereof, or of the proposed assumption of obligation or liability, the commission finds that the issue or assumption is for some lawful object within the corporate purposes of the public utility, and it is necessary or appropriate for or consistent with the performance by the public utility of its service to the public and will not impair its ability to perform that service.