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acqnire the facilities included in the egpansion or constrnction
program referred to in the accompanying O~'icers' Certificate,
' or that no snch anthorizAtion is required; snch Opinion of Coun-
sel map state that any necessary authorization is temporarp or
subject to pending appeals; and unless such opinion shall state
~ that no auf.horization is necessarp, it shall specify and be accom-
panied by certified copies of any orders, certificates or otl~er docn
ments by which each such anthorization then required is evideneed.
For the purposes of this ~ 4.01, the amount of the "pro forma net
earnings of the Compnnp available for interest and property retire-
ment appropriations" for any par~icnlar period shall be the amonnt
of Net Earnings of the Company Available for Interest and Property
Retirement Appropriations for anch period as defined in Article 1 of
the Indentnre, plns : ~
(i) an amonnt equal to 71/2% of the amount stated pur-
snant to paragraph (4) of subdivision (a) of this ~ 4.01 in the
Officers' CertiScate in which the amonnt of snch pro forma net
earnings of the Company available for interest and property
retirement appropriations is being stated,
(ii) an amount equal to snch additional amount of income
tazes and other tazes imposed on income after the dednction of
interest ebarges as wonld have been payable by the Company
if the A.dditional Bonds the anthenticaf,ion of which is applied
for in connection with the ezpansion or constrnction program
referred to in snch Officers' Certificate and all other secnrities
or borro~vings to be ontstanding immediately after the issuance
and sale of such tldditional Bonds had been ontstanding dnr-
i '
in all of the ar~ enlar eriod s ecified in such Off cers Cer-
g P P P
tificute, and if dnring snch period the earnings of the Company
had been increased to such an egtent that its net earnings, after
sneh additional tazes bnt before interest charges, wonld have
been increased by an amonnt eqnal to the amonnt specified in
clause (i) of this paragraph, the effective rate of any snch
~ ~ ta$ being deemed to be the efEective rate of snch tax at the
i time of the filing of snch application, and
I (iii) the estimated amonnt of all appropriationa for depre-
i ciation, amortization and depletion to be charged by the Com-
I
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