Ohio Code 4909.45 – Information furnished by gas or natural gas company to municipal corporation
Every gas or natural gas company shall, prior to accepting any rate, price, charge, toll, or rental fixed by ordinance of a municipal corporation, submit to the legislative authority of the municipal corporation the following information:
Terms Used In Ohio Code 4909.45
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Property: means real and personal property. See Ohio Code 1.59
- Rule: includes regulation. See Ohio Code 1.59
(A) A report of its property used and useful in rendering the service to be provided;
(B) A complete operating statement of the previous fiscal year, showing in detail all its receipts, revenues, and incomes from all sources, all of its operating costs and other expenditures, and any other information the public utility deems applicable;
(C) A statement of the income and expense anticipated under the ordinance;
(D) A statement of financial condition summarizing assets, liabilities, and net worth;
(E) A proposed notice for newspaper publication fully disclosing the substance of the ordinance. The notice shall further include the average percentage increase in rate that a representative industrial, commercial, and residential customer will bear should the ordinance be accepted.
Such information and exhibits shall be in the same form as the public utilities commission by rule may require.