§ 10-7. Council to fix and regulate charges, fares, or rates.

The city council shall determine, fix, and regulate the charges, fares or rates of any person, firm or corporation that may now or hereafter enjoy a franchise or exercise any other public privilege from said city, and of any and all public utilities of whatsoever kind, and to prescribe the kind of service to be furnished to the public by such person, firm or corporation, and the manner in which it shall be rendered and from time to time alter or change such rules, regulations and compensation, after reasonable notice to, and a hearing of, the owners of such utilities, and after a public hearing thereon, provided that the rates, charges, and fares so fixed shall at all times be reasonable, and permit a reasonable net return on the actual value of the physical properties and equipment of such utilities. In this connection, the council may require any utility or franchise holder to furnish such financial reports as the council may request, including reports of actual operating costs and the financial condition of its operation within the City of Eagle Pass.

(Ord. No. 02-32, § 1, 11-7-02; elect. of 2-1-03)