§ 49-06-07 — Failure of utility to file bond - Temporary rates prescribed by commission

North Dakota § 49-06-07

• Jurisdiction: North Dakota
• Title 49: Public Utilities
• Ch. 49-06: Valuation of Public Utility Property

Text

If, within thirty days after the service of the order, as set forth in section 49-06-06, the public
utility fails, neglects, and refuses to file a bond or undertaking with the commission, then the
commission immediately shall fix, determine, and prescribe temporary rates to be charged by
such public utility pending the final determination of said rate proceeding. The temporary rates,
so fixed, determined, and prescribed shall be sufficient to provide a return of not less than five
percent per annum upon the original cost less accrued depreciation of the physical property of
said public utility used and useful in the public service. If the duly verified reports of said utility to
the commission do not show the original cost, less accrued depreciation, of said property, the
commission may estimate said cost less depreciation and fix, determine, and prescribe rates as
hereinbefore provided. In determining the original cost or in estimating the cost as herein
provided, the commission may take into consideration any report, annual or otherwise, filed with
it by any utility, together with any other fact or information which the commission may acquire or
receive from an investigation of the books, records, or papers of such public utility and from an
inspection of its property, or from the examination of any report, annual or otherwise, made by
the public utility and filed with the state tax commissioner, or any report, annual or otherwise,
made by the said public utility to the federal power commission, federal communications
commission, or federal securities and exchange commission.