§ 110-262. Declaration of legislative intent.

It is hereby declared to be a legislative finding by the board of county commissioners that mutual ownership between the developer or such others included within the term and the public utility creates an impractical or impossible obstacle to the independent determination of investment cost as the term is defined in this division since the determination and isolation of contributions as used in the definition of the investment cost is intertwined with other construction costs of the developer and the calculation and determination of profit, the control of which is intended to be left to the marketplace; that the formula calculation of the adjusted acquisition investment cost purchase price under section 110-201 is based upon the historical experience of the extent and method of the receipt of such contributions by public utilities both with and without a mutual interest of ownership with the developer; and that this alternative provision is intended to recognize that unique situation in which a public utility and a developer with no mutual ownership interest have a contractual agreement that determines and isolates the amount of such contributions in a reliable manner.

(Code 1979, § 23-102)