§ 37-6-101 — Right to issue securities and create liens subject to control of commission; purposes enumerated

The right of every gas corporation and of every electrical
corporation operating as a public utility in the state of
Wyoming to issue, assume or guarantee securities and to create
liens on its property situated within the state of Wyoming is a
special privilege, hereby subjected to the supervision and
control of the public service commission of the state of
Wyoming, as hereinafter in this act set forth. Such public
utility when authorized by order of the commission and not
otherwise, may issue stocks and stock certificates and may
issue, assume or guarantee other securities payable at periods
of more than eighteen (18) months after the date thereof, for
the following purposes: for the acquisition of property; for the
construction, completion, extension or improvement of its
facilities; for the improvement or maintenance of its service;
for the discharge or lawful refunding of its obligations; for
the reimbursement of monies actually expended for said purposes
from income or from other monies in the treasury not secured by
or obtained from the issue, assumption or guarantee of
securities, within five (5) years next prior to the filing of an
application with the commission for the required authorization;
or for any other purpose approved by the commission.