Rhode Island General Laws 39-3-18. Order of division as to security issue
The order of the division shall fix the amount, character, and terms of any issue, and the purposes to which the issue or any proceeds thereof shall be applied, and recite that the money, property, consideration, or labor procured or to be procured or paid for by the issue has been, or is reasonably required for the purposes specified in the order, and the value of any property, consideration, or service as the case may be, as found by the division, for which, in whole or in part, the issue is proposed to be made. No public utility shall, without the consent of the division, apply any issue or its proceeds to any purpose not specified in the order.
History of Section.
G.L. 1923, ch. 253, § 62; P.L. 1936, ch. 2345, § 1; G.L. 1938, ch. 122, § 58; G.L. 1956, § 39-3-18.
Terms Used In Rhode Island General Laws 39-3-18
- Division: means the division of public utilities and carriers. See Rhode Island General Laws 39-1-2
- Public utility: means and includes every company that is an electric distribution company and every company operating or doing business in intrastate commerce and in this state as a railroad, street railway, common carrier, gas, liquefied natural gas, water, telephone, telegraph, and pipeline company, and every company owning, leasing, maintaining, managing, or controlling any plant or equipment, or any part of any plant or equipment, within this state for manufacturing, producing, transmitting, distributing, delivering, or furnishing natural or manufactured gas, directly or indirectly, to or for the public, or any cars or equipment employed on, or in connection with, any railroad or street railway for public or general use within this state, or any pipes, mains, poles, wires, conduits, fixtures, through, over, across, under, or along any public highways, parkways, or streets, public lands, waters, or parks for the transmission, transportation, or distribution of gas for sale to the public for light, heat, cooling, or power for providing audio or visual telephonic or telegraphic communication service within this state, or any pond, lake, reservoir, stream, well, or distributing plant or system employed for the distribution of water to the consuming public within this state, including the water supply board of the city of Providence; provided, that, except as provided in § 39-16-9 and in P. See Rhode Island General Laws 39-1-2