HomeMy WebLinkAbout1872 _ . ; ~ ti • .
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program referred to in the aocompanping Officers' CertiSoate,
or that no snch authorization ia required; such Opinion of Conn-
sel may state that anp necessary anthorization is temporary or
snbject to pending appeals; and nnless snch opinion shall atate
that no anthorization is necessary, it shall specify and be ac~com- ~
- panied by certified copies of any orders, certificates or other doan- ~
ments br which each such antLorization then reqnired iB evidenced.
For the pnrposes of thia 4 4.01, the amonnt of the `~pro forma net
earnings of the Company available for intereat and property retire- :
ment appropriationa" for any partionlar period ahall be the amonnt '
of 1~Tet Earnings of the Company Available for Interest and Property ~
Retirement Appropriations for snch periad as defined in drticie 1 of ' 4
the Indentnre, plns :
(i) an amonnt eqnat to 7~9'0 of the amonnt atated pnr-
anant to paragraph (4) of subdivision (a) of tLis ~~t.02 in the
Officers' Certificate in which tLe amount of snch pro forma net
earninga of the Company available for interest and property
retirement appropriations ie being atated, -
(u) an amonnt eqnal to snch additional amonnt of income ~
taxes and other taaes imposed an income after the dednetion of
interest charges as wonld have been payable by the Company
if the Additional Bonds the anthentication of which is agplied
for in connection with tLe e2pansion or constrnction prngram ~
referred to in snch Officera' Certificate and all otLer aecsnritiea
or borrowings to be onte3tanding immediately after the issnance ~
and sale of snch Additional Bonds had been ontstanding dnr- '
ing all of the particular period apecified in euch Officers' Cer-
tificate, and if dnring such period the earnings of the Company
h~d been increased to snch an eatent that its net earnings, after
snch additional taaes bnt before interest chargea, wonld have
' • been increased by an amonnt eqnal to the amount apecified in
clause (i) of this paragraph, the effective rate of any snch
ta.z being deemed to be the effective rate of sach taz at tLe ,
time of the filing of snch application, and
(iii) the estimated amonnt of all appropriations for depre-
ciation, amortization and depletion to be charged by the Com-
pany on its books, on a straight-line basis, with respect to the
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