Section 108.02. Public invitation of bids.

 

(1)  Each such public service corporation shall publicly invite the submission of written sealed bids to be received at a stated date, hour, and place for the purchase of the specified security. Such invitation shall be given at least 6 days prior to the opening of the bids, or for such shorter interval as the commission may approve. The invitation shall state the name and address of the person, firm, or corporation from whom information regarding the public service corporation and the proposed issue may be obtained. The duly authorized representative of any party submitting a bid shall be entitled to be present at the opening of the bids and to examine each bid submitted.

(2)  Conformity with the provisions of Rule U-50 of the federal securities and exchange commission with respect to public invitation of proposals for the purchase or underwriting of securities shall be deemed compliance with the rule prescribed by ch. PSC 108 .

History: Cr. Register, December, 1964, No. 108 , eff. 1-1-65.