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ordinance granting a franchise shall contain all the terms and conditions of the <br /> franchise. The grantee shall bear the costs of publication of the franchise <br /> ordinance and shall make a sufficient deposit with the Clerk-Administrator to <br /> guarantee publication before the ordinance is passed. <br /> Section 10.02. Term. No perpetual franchise or privilege shall be <br /> created, nor shall any exclusive franchise or privilege be granted for a period of <br /> more than twenty-five years. <br /> Section 10.03. Public Hearing. Before any franchise ordinance is adopted <br /> or any rates, fares, or prices to be charged by a public utility are fixed by the <br /> Council, the Council shall hold a public hearing on the matter. Notice of such <br /> hearing shall be published,at least once in the City Newsletter and in the official <br /> newspaper not less than ten days prior to the date of the hearing. <br /> Section 10.04. Power of Regulation Reserved. Subject to any applicable <br /> state law, the. Council may by ordinance reasonably regulate and control the <br /> exercise of any franchise, including the maximum rates, fares, or prices to be <br /> charged by the grantee. No franchise value shall be included in the valuation of <br /> the grantee's property in regulating utility rates, fares, or prices under any <br /> applicable state or municipal law, or regulation, or in proceedings for municipal <br /> acquisition of the grantee's property by purchase or eminent domain. <br /> Section 10.05. Renewals or Extensions. Every extension, renewal, or <br /> modification of any existing franchise, or of any franchise granted thereafter, <br /> • shall be subject to the same limitations and shall be granted in the same manner <br /> as a new franchise. <br /> CHAPTER 11 <br /> PUBLIC OWNERSHIP AND OPERATION OF UTILITIES <br /> • <br /> Section 11.01. Acquisition and Operation of Utilities. The City may own <br /> and operate any gas, water, heat, power, light, telephone or other public utility <br /> for supplying its own needs for utility service, or.for supplying utility service to <br /> private consumers or both. It may construct all facilities reasonably needed for <br /> that purpose, and may acquire any existing utility properties so needed; but such <br /> • action may only be taken by. ordinance, which shall not be an emergency <br /> ordinance. The operation of all public utilities owned by the City shall be under <br /> the supervision of the City Council. <br /> Section 11.02. Rates and Finances. The Council may by ordinance fix <br /> rates, fares and prices for municipal utilities, but such rates, fares and prices <br /> shall be just and reasonable. The Council shall endeavor to make each municipal <br /> utility financially self-sustaining. Before any rates, fares or prices for municipal <br /> utilities shall be fixed by the Council, the Council shall hold a public hearing on <br /> the matter in accordance with Section 11.06 of this chapter. The Council shall. <br /> prescribe the time and the manner in which payments for all such utility services <br /> Mounds View City Charter <br />