Section 16-601-101 - Contents(a) An application for authority to issue stock and stock certificates or bonds, notes, leverage leases, and other evidences of indebtedness payable at periods of more than twelve months after the date thereof shall comply with sections 16-601-15 to 16-601-24 and section 16-601-74 and shall contain the following data either in the body of the application or in exhibits attached to the application: (1) A general description of the applicant's property and the types of public utility service it provides;(2) The amount and kind of stock or other evidence of interest or ownership that the applicant proposes to issue and, if preferred, the nature and extent of the preferences; the amount of bonds, notes, or other evidences of indebtedness that the applicant proposes to issue, together with terms and rate of interest, and a description of the manner in which the bonds, notes, or other evidences of indebtedness are to be secured, if at all; the amount and description of the indebtedness that the applicant proposes to assume, to the extent that information is known to the applicant at the time the application is filed;(3) If the issuance of securities is to be by negotiated bid rather than by competitive bid, the justification for that course of action;(4) Purposes for which the securities are to be issued, and: (A) If for property acquisition, a detailed description thereof, the consideration to be paid, and the method of arriving at the amount;(B) If for construction, completion, extension, or improvement of facilities, a description in reasonable detail, the cost or estimated cost, and any supporting study to indicate the reason or necessity for the expenditures;(C) If for improvement or maintenance of service, a statement of the specific need and character of the improvements proposed and the reasons why service should be maintained from capital;(D) If for discharge or refunding of obligations, a full description of the obligations to be discharged or refunded, including the character, principal amount, applicable discount or premium, date of issue, date of maturity, rate of interest, and other material facts concerning the obligations, together with a statement showing the purposes for which the obligations were issued or the proceeds expended and the commission's decisions, if any, authorizing the incurrence of the obligations;(E) If for reorganization or readjustment of indebtedness or capitalization or for retirement or exchange of securities, a full description of the indebtedness or capitalization to be readjusted or exchanged; complete terms and conditions of the merger, consolidation, exchange, or other reorganization; a pro forma balance sheet, if possible, giving effect to the reorganization, readjustment, or exchange; and a statement of the reasons or necessity for the transaction; or(F) If for reimbursement of moneys actually expended from income or from any other moneys in the treasury, a general description of the expenditure for which reimbursement is sought, the source of the expenditures, and the reason or necessity for the reimbursement; and(5) A description of any obligation or liability to be assumed by the applicant as guarantor, endorser, surety, or otherwise, the consideration to be received by the applicant, and the reason or necessity for that action.(b) The following exhibits shall be filed with the application:(1) Financial statements in accordance with sections 16-601-75 and 16-601-76;(2) Copy of the instrument defining the terms of the proposed securities, if available, unless previously filed with the commission, in which event reference may be made to the proceeding in which it was filed;(3) Copy of each plan, offer, or agreement for the reorganization or readjustment of indebtedness or capitalization or for the retirement or exchange of securities, if available;(4) Copy of the resolution by the applicant's board of directors originally authorizing the proposed financing;(5) Copy of source and application of funds statement for the latest year and for each of the succeeding five years ;(6) Statement of capital structure for latest year and for each of the succeeding five years, including notes payable as debt;(7) Statement showing interest coverage for the latest year and for each of the succeeding five years;(8) Where applicable, bond margin calculations, including pro forma figures giving effect to the proposed financing; and(9) A statement of all estimated expenses for issuance of securities.Haw. Code R. § 16-601-101
[Eff 1/1/2019] (Auth: HRS §§ 91-2, 269-6) (Imp: HRS §§ 91-2, 269-17)