§ 70-506 — Sale, lease, or transfer; statement and report; contents; filing

At the same time, and accompanying said documents and instruments of sale and transfer, there shall be filed with the Nebraska Power Review Board a statement and report, in form and detail to be approved by the Nebraska Power Review Board and the Attorney General, clearly setting forth the following facts and data: (1) The location and detailed description, including source and methods of generation, of all the property involved in the sale, lease, or transfer; (2) the dates of the construction, purchase, or other acquisition, by such municipality, or public electric light and power district, of such power plant, distribution system, or transmission lines, including all replacements, extensions, repairs, and betterments, together with a detailed statement of the actual cost; (3) a detailed description of such parts of the utility to be sold as, between the time of acquisition thereof and the time of the sale under consideration, shall have become obsolete, or shall have been sold, transferred, lost, destroyed, abandoned, or otherwise disposed of by such municipality or public electric light and power district, and the cost of such part of the utility, including extensions or additions thereto; and (4) a complete schedule of the rates and charges made or levied by such municipality or public electric light and power district for electric current, and a full and complete statement showing the financial condition and the receipts and disbursements of such municipality or public power district in the operation of the utility during the preceding three-year period, and a statement of the bonded indebtedness, if any, of such municipality or public power district in connection with its ownership or operation of the utility, including the amount of all bonds issued and paid.

Legislative History

Source: Initiative Law 1930, No. 324, § 5; Laws 1931, c. 116, § 5, p. 338; C.S.Supp.,1941, § 70-605; R.S.1943, § 70-506; Laws 1981, LB 181, § 3.