Sec. 37.3. Specific provisions for construction, completion or improvement of facilities

If securities are to be issued for the construction, completion or improvement of facilities [the petition duly verified shall state or contain]:

(a) General description of the work proposed and the estimated cost thereof.

(b) Copy of construction or work agreement.

(c) Description and book cost in detail of all property which will be retired in connection with the proposed construction, with an estimate of the cost of removal and the salvage to be recovered.

(d) An affidavit by the chief accounting officer of the petitioner that no part of the cost of the work proposed is in whole or in part reasonably chargeable to operating expenses or to income, except as therein set forth.

(e) At the hearing, the applicant shall be prepared to show by competent evidence that the construction or equipment is required to render adequate service at reasonable cost and that the statements in the petition are true.