Sec. 37.1. Contents of petition

The petition duly verified shall state or contain:

(a) Financial condition of the applicant (see Part 3 of this Chapter).

(b) The basis of the book cost of utility property of applicant and particularly whether it represents original cost of such property as original cost is defined in subdivision (f) of section 31.1 of this Subchapter, if it does not represent original cost, the basis should be fully stated.

(c) Statement of whether such book cost includes any amount for a franchise, consent or right to operate as a public utility.

(d) The amount and kind of stock which the corporation desires to issue, and, if preferred, the nature and extent of the preference.

(e) The amount of bonds, notes and other evidences of indebtedness which the corporation desires to issue, date of maturity, the rate of interest, how secured, and if to be secured by a mortgage or pledge, the terms thereof.

(f) The purposes for which the funds to be derived from the issuance of such securities are to be used, and particularly the amount for each of the following:

(1) acquisition of property;

(2) construction, completion, extension or improvement of facilities;

(3) improvement or maintenance of its service;

(4) discharge or refunding of its obligations; and

(5) reimbursement of moneys actually expended from income or from any other moneys in the treasury not obtained from the issuance of stocks, bonds, notes or other evidences of indebtedness.

(g) The funds available from sources other than the proposed financing to meet in part the purposes stated in subdivision (f) of this section, including contributions from customers or others, salvage proceeds, depreciation reserve accruals and any unused balances in prior financing applications.

(h) Copy of contract or agreement for the disposal of any of the stocks, bonds, notes or evidences of indebtedness which it is proposed to issue.

(i) Statement in detail of the estimated costs and expenses of the contemplated financing.

(j) Copy of proposed instrument if the bonds, notes or other evidences of indebtedness to be issued are to be secured by a mortgage, indenture, lease or other agreement not on file with the commission; and a certified copy shall be filed with the commissioner promptly upon execution.

(k) Statement of the financial condition of each of the corporations to be merged or consolidated, if securities are to be issued by a corporation to be formed by the merger or consolidation of two or more corporations.

(l) Proof of the consent of the stockholders under the Stock Corporation Law and the Railroad Law if the application contemplates a mortgage.

(m) Statement as to whether required approval by other public authorities has been obtained.

(n) Whether any franchise or any right to own, operate or enjoy any franchise, or any contract for consolidation or lease is proposed to be capitalized directly or indirectly, except as the same is authorized by section 69, 82, 89-f or 101 of the Public Service Law. If the proposal contemplates or involves the capitalization of any franchise, there shall be filed with the petition a verified copy of such franchises and an affidavit of the proper officer of the public authority granting same showing the amount that has been actually paid for such franchises and by whom such payment was made.

(o) An affidavit by the principal accounting officer of the petitioner that the accounts of the petitioner have been kept strictly in accordance with the accounting order or orders of the commission applicable thereto, and that since the effective date of such orders there have been no charges to asset accounts not in accordance therewith and that all required credits to such asset accounts have been made for the amount and in the manner prescribed therefor in such accounting orders.