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showing that such pro forina net earninga of the Company
available for interest and property retirement appropriations
have been in the aggregate not less than (i) 3~ timea the
amount of the annnal interest charges stated pnranant to
paragrapl-~ (3) of this subdivision (a) and (ii) 1~ timea the
1liaaimnm Annual Service Charge st_ated pursuant to anch
paragraph (3);
(2) the pro fornia net earnings of the Company available
for interest as defined in thia 4 4.OZ for tbe period of 12 con-
secntive Calendar '~onths specified pursuant to paragraph
(1) of this subdivision (a), and to that end specifying the
revenues and income of the Company and the dednctions
therefrom and additions thereto all as called far by said
definition; and showing that snch pro forma net earnings of
the Company available for interest have been in the aggregate
not less than 21/4 times the amount of annnal interest charges
stated pursnant to paragra~h (3) of this subdivision (a);
(3) the annnal interest cbarges, and the Maaimum Annnal
Service Charge, on all Bonda at the time Ontstanding, on tLe
f
Additional Bonds applied for, and on all Pnrchase ~ioney Ob-
~ lig~tions then secnred or then abont to be incnrred and secnred
I by liens npon property of the Company, ezcept any Bonds or
' snch Pnrchase Money Obligations which will cease to be Ont-
~ standing prior to or concnrrently with the anthentication and
! delivery of the Additional, Bonda applied for;
f
i (4) tbe total amount of the net proceeds (other than
~ amonnta eqnal to accrued interest) rec~eived, in connection with
i the eapansion or constrnction program for purposes of ~hich
~ application is being made for the authentication and delivery
~ of the Additional Bonds, (i) from borrowings by the Company
and from the issnance and sale of seenrities other than snch
~ Additional Bonda and (u) to be received from the ieananoe
E and sale of snch Additional Bonds, bnt only to the eatent that
auch net proceeds are to be nsed for tlie construction or a~-
quisition of Property Additions pertaining to such program
or l~ave been, nsed for the construction or acquisition of prop-
erty wluch constitutes or, upon completion of sueh program,
will conatitnte Property Additions pertaining thereto and only -
~~'tooKi901.~ 1865
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