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Draft #2 <br /> by J . Trude <br /> CHAPTER 11 <br /> 111 PUBLIC OWNERSHIP AND OPERATION OF UTILITIES <br /> Section 11 . 01 Acquisition and Operation of Utilities . The <br /> City may own and operate any gas , water , heat , power , light , telephone <br /> or other public utility to supply its own utility needs and/or <br /> to supply utility service to private consumers . The City may , <br /> pursuant to a regularly-adopted ordinance , construct or acquire <br /> all necessary facilities to supply utility service . The City <br /> Council supervises all city-owned utilities . <br /> Section 11 . 02 . Rates and Finances . Following a public hearing <br /> with notice as described in Section 11 . 06 , the Council will set , <br /> 110 by ordinance , just and reasonable rates , fares and prices for <br /> city utilities. The Council must endeavor to make each utility <br /> financially self-sustaining . The Council prescribes the time <br /> and method for making city utility payments . The Council may <br /> adopt other necessary regulations , including penalties for violation <br /> of these regulations . <br /> Section 11 . 03 Purchase in Bulk . The Council may purchase <br /> in bulk and resell gas , electric , water and other utilities at <br /> just and reasonable rates . A public hearing with notice as described <br /> in Section 11 . 06 must be held before the Council sets the rates <br /> for these utilities . <br /> • Section 11 . 04 Lease of Plant . The Council may , in order <br /> to serve the public interest , lease the operation of any city <br />