Effective: October 1, 1953
Latest Legislation: House Bill 1 - 100th General Assembly
In the absence of agreement between the municipal corporation and a public utility as to rates, fares, or charges, as provided in section 745.06 of the Revised Code, all rates, fares, tolls, and charges for services rendered and commodities furnished by such public utility shall be sufficient to yield a reasonable compensation to the public utility operating under an indeterminate permit, and in the ascertainment of what shall constitute such reasonable rates, fares, tolls, and charges, the municipal corporation shall have regard, among other things, to the value of all the property of the public utility actually used and useful for the convenience of the public, excluding therefrom the value of any franchise or right to own, operate, or enjoy such property in excess of the amount actually paid to the municipal corporation as the consideration for the grant of such indeterminate permit, exclusive of any value added thereto by reason of a monopoly or merger, and shall have regard to the necessity of making reservation out of the income for surplus, depreciation, and contingencies.
Structure Ohio Revised Code
Title 7 | Municipal Corporations
Section 745.01 | Street Railway - Indeterminate Permit Definitions.
Section 745.02 | Authority to Grant Indeterminate Permit.
Section 745.03 | Authority to Surrender Franchise and Accept Indeterminate Permit.
Section 745.04 | Determination of Compensation.
Section 745.05 | Procedure for Acquisition of Public Utility.
Section 745.07 | Submission of Ordinance to Electors - Notice of Election.
Section 745.08 | Time of Continuance of Indeterminate Permit - Effect of Acceptance.
Section 745.09 | Rates, Tolls, or Charges.
Section 745.10 | Department May Be Created to Exercise the Powers Conferred.
Section 745.11 | Appeal When Ordinance Contains No Provisions for Appeal.
Section 745.12 | Procedure on Appeals to Public Utilities Commission.
Section 745.13 | Writ of Mandamus.
Section 745.14 | Rights of Charter Municipality as to Indeterminate Permits.