Sec. 37.5. Specific provisions for refunding of obligations or retirement of securities

If securities are to be issued for refunding of obligations or the retirement of other securities [the petition duly verified shall state or contain]:

(a) Description of obligations or securities to be refunded including par or face value thereof, interest or dividend rate, date of maturity, call premium to be paid, amount of money or other consideration actually received when refunded obligations or securities were issued, use made of said proceeds, unamortized costs of issue and unamortized premiums.

(b) Proposed disposition of unamortized costs and premiums.

(c) Unpaid interest or accrued dividends.

(d) At the hearing, applicant shall be prepared to show by competent evidence the facts upon which it relies to establish that the transaction is in the public interest and that the statements in the petition are true.