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SOUTHWESTERN BELL TEL. CO. v. ARKANSAS PSC

No. CA 86-148.

727 S.W.2d 384 (1987)

20 Ark.App. 158

SOUTHWESTERN BELL TELEPHONE COMPANY, Appellant, v. ARKANSAS PUBLIC SERVICE COMMISSION, Appellee.

Court of Appeals of Arkansas. En Banc.

March 11, 1987.

Attorney(s) appearing for the Case

D.D. Dupre & Garry S. Wann, Friday, Eldredge & Clark by Herschel Friday & Jeff Broadwater, Little Rock, for appellant.

Ivy Lincoln, Little Rock, for appellee.

CORBIN, Chief Judge.

On January 30, 1985, Southwestern Bell Telephone Company applied to the Arkansas Public Service Commission for permission to issue $700 million in unsecured debentures. The debentures would not create a lien upon or otherwise encumber any of Bell's property in Arkansas. Bell, incorporated under the laws of Missouri, stated in its application that it was placing the matter before the Commission solely as an "accommodation" and asserted that the...

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