Section 40-342 - Petitions of owners for cost study establishing an underground conversion service areaA. In the event that not less than sixty per cent of the owners of contiguous real property within a reasonably compact area of reasonable size, and who own not less than sixty per cent on a square foot basis of the real property within such area, seek to establish an underground conversion service area they shall petition each public service corporation or public agency serving such area by overhead electric or communication facilities to make a study of the costs which will be related to the establishment of such area as an underground conversion service area.B. The petition shall set forth:1. The necessity for the proposed underground conversion service area.2. That the public convenience, necessity or welfare will be promoted by the establishment of the underground conversion service area and that the property to be included therein will be benefited.3. The name and address of the owner of each parcel or lot within the proposed underground conversion service area as reflected on the records of the county assessor.4. Such other matters as may be required by the public service corporation or public agency.C. Each copy of the petition shall be verified by one of the petitioners and shall be accompanied by a plat or sketch indicating the boundaries of the proposed underground conversion service area and size in square feet of each parcel or lot within the proposed underground conversion service area.D. Each public service corporation or public agency serving such area by overhead electric or communication facilities shall, within one hundred twenty days after receipt of the petition, make a study of the cost of conversion of its facilities in such area to underground service, and shall in its office make available to the petitioners and to all owners of land within the proposed underground conversion service area a joint report of the public service corporations or public agencies affected as to the results of the study. The joint report shall set forth an estimate of the costs to be assessed to each lot or parcel of real property located within the proposed underground conversion service area for the conversion of facilities within public places. The joint report shall also indicate the estimated cost to be assessed to each lot or parcel of real property for placing underground the facilities of the public service corporation or public agency located within the boundaries of each parcel or lot then receiving service. The costs of preparing the joint report shall be borne by the public service corporation or public agency whose overhead electric or communication facilities are to be included in the proposed underground conversion service area unless the corporation commission or board of supervisors orders the establishment of the underground conversion service area, in which event such costs shall be included in the underground conversion costs.E. In the event the petitioners desire to convert any facilities used or intended to be used for the transmission of electric energy at nominal voltages in excess of twenty-five thousand volts, or having a current capacity in excess of twelve thousand kva, the petition shall so state, and the joint report of the public service corporation or public agency serving such area by overhead electric or communication facilities shall state separately the costs of conversion of such facilities to underground service.F. A summary of the estimate of the costs to be assessed against each lot or parcel of real property located within the proposed underground conversion service area for the conversion of facilities within public places and the estimated costs to be assessed to each lot or parcel of real property for placing underground the facilities of the public service corporation or public agency located within the boundaries of each parcel or lot then receiving service shall be mailed by the public service corporation or public agency to each owner of real property located within the proposed underground conversion service area to the address of such owner as set forth on the petition for the cost study.