392.270. Power of commission to ascertain valuation of property of telegraph and telephone corporations. - Missouri Statutes

Power of commission to ascertain valuation of property of telegraphand telephone corporations.

392.270. 1. The commission shall have the power toascertain the value of the property of every telecommunicationscompany in this state and every fact which in its judgment may ordoes have any bearing on such value. The commission shall havepower to make revaluations from time to time and to ascertain allnew construction, extensions and additions to the property ofevery telecommunications company.

2. For the purpose of ascertaining the matters and thingsspecified in this section, concerning the value of the propertyof telecommunications companies, the commission may cause ahearing or hearings to be held at such time or times and place orplaces as the commission may designate. Before any hearing ishad, the commission shall give the telecommunications companyaffected thereby at least thirty days' written notice, specifyingthe time and place of such hearing, and such notice shall besufficient to authorize the commission to inquire into thematters designated in this section, but this provision shall notprevent the commission from making any preliminary examination orinvestigation into the matters herein referred to, or frominquiring into such matters in any other investigation orhearing. All telecommunications companies affected shall beentitled to be heard and to introduce evidence at such hearing orhearings. The commission is empowered to resort to any othersource of information available, which information shall beoffered in evidence on such hearing. The evidence introduced atsuch hearing or hearings shall be reduced to writing andcertified under the seal of the commission. The commission shallmake and file its findings of fact in writing upon all mattersconcerning which evidence shall have been introduced before itwhich in its judgment have bearing on the value of the propertyof the telecommunications company affected. Such findings shallbe subject to review by any circuit court of this state in thesame manner and within the same time as other orders anddecisions of the commission. The findings of the commission somade and filed, when properly certified under the seal of thecommission, shall be admissible in evidence in any action,proceeding or hearing before the commission or any court in whichthe commission, the state or any officer, department, orinstitution thereof, or any county, city, municipality or otherbody politic and the telecommunications company affected may beinterested, whether arising under the provisions of this law orotherwise, and such findings, when so introduced, shall beconclusive evidence of the facts therein stated as of the datetherein stated under conditions then existing, and such facts canonly be controverted by showing a subsequent change in conditionsbearing upon the facts therein determined. The commission mayfrom time to time cause further hearings and investigations to behad for the purpose of making revaluations or ascertaining thevalue of any betterments, improvements, additions or extensionsmade by any telecommunications company subsequent to any priorhearing or investigation and may examine into all matters whichmay change, modify or affect any finding of fact previously made,and may at such time make findings of fact supplementary to thosepreviously made. Such hearings shall be had upon the same noticeand be conducted in the same manner, and the findings so madeshall have the same force and effect as is provided herein forsuch original notice, hearings and findings, however, suchfindings made at such supplemental hearings or investigationsshall be considered in connection with and as a part of theoriginal findings except insofar as such supplemental findingsshall change or modify the findings made at the original hearingor investigation.

3. Notwithstanding this section or any other provision ofthis chapter or chapter 386, RSMo, the commission is not requiredto consider evidence regarding the fair value or other measure ofvalue of the property of a telecommunications company in anyproceeding to consider and set just and reasonable rates for atelecommunications company so long as the commission considersand relies on evidence of the original cost of such property.

(RSMo 1939 § 5679, A.L. 1987 H.B. 360)

Prior revisions: 1929 § 5223; 1919 § 10511

CROSS REFERENCE:

Investigations by public service commission, generally, RSMo 386.330