§ 3-6-62. Procedure for fixing tolls.

(a)

Rates and tolls being charged and collected by a bridge company shall be changed only by approval of the board of county commissioners. The board shall, either upon request or upon its own motion, fix rates which are just, reasonable, compensatory, and not unfairly discriminatory. In every such proceeding, the board shall consider the value and quality of the service and the cost of providing the service, which shall include but not be limited to debt interest reasonably incurred for the operation of the bridge, the requirements of the bridge for working capital, maintenance, depreciation, tax and operating expenses incurred in the operation of all property used and useful in the public service, and a fair return on investment of the company in property used and useful in the public service. The board shall also consider the investment of the bridge company in property required by duly authorized governmental authority to be constructed in the public interest within a reasonable time in the future not to exceed twenty-four (24) months.

(b)

In fixing rates, the board may determine the prudent costs of providing service during the period of time the rates will be in effect following the entry of a final order relating to the rate request of the utility and may use such costs to determine the revenue requirements that will allow the bridge company to earn a fair rate of return on its rate base. The measure of the value of property used and useful in the public service shall be the amount actually paid for installing the original bridge and equipment, plus additions, when first devoted to public service, minus any fraudulent, unwise or extravagant expenditures.

(Ord. No. 87-33, § 2, 8-4-87)