§ 29-8-136 — Payment of public utility

Upon completion of the conversion
contemplated by this article, the public utility shall present the governing body with
its verified bill for conversion costs, as computed under section 29-8-131, but based
upon the actual cost of constructing the underground facility rather than the
estimated cost of the facility. In no event shall the bill for conversion cost
presented by the public utility exceed the amount of estimated conversion costs by
the public utility. In the event the conversion costs are less than the estimated
conversion costs, each owner within the improvement district shall receive the
benefit, prorated in such form and at such time as the governing body determines.
The bill of the public utility shall be paid within thirty days by the governing body
from the improvement district funds or such other source as is properly designated
by the governing body. In determining the actual cost of constructing the
underground facility, the public utility shall use its standard accounting procedures,
such as the uniform system of accounts as defined by the federal communications
commission and as is in use at the time of the conversion by the public utility
involved, as described in section 29-8-131.

Legislative History

Source: L. 71: p. 1000, � 1. C.R.S. 1963: � 89-23-36.