(A) Commercial customer charges shall be charged for service based on the following rate schedule: First 1 to 20 units at $5.50 per unit; next 21 to 50 units at $4.50 per unit; next 51 and over units at $3.50 per unit. All normal installations will be charged the regular installation charges and installation charges for internal distribution systems shall be charged at the fair market value of the installation.
(B) The residential monthly service rate as hereinafter provided for shall be in effect upon the signing of the agreement, and shall continue thereafter provided. However, the company reserves the right to increase this monthly rate in the following manner and procedure, namely: The company shall notify the city in writing by registered mail of the proposed rate change in the single outlet monthly rate. Within 21 days of the receipt of the registered letter by the city, the city shall arrange a meeting between the company and the city to discuss the proposed rate change. If the city does not agree with the company regarding the rate change within 15 days of the first meeting with the company, then the Board of Arbitrators should be selected. The Board of Arbitrators shall be composed of five members, two to be selected by the company, two to be selected by the city, and the fifth to be selected by the four aforementioned representatives on the Board of Arbitrators. The Board of Arbitrators are to render a decision for or against the rate change after public hearing to be held 15 days from the date of their appointment to the Board. The public hearing shall be advertised one time in two newspapers generally circulated in the city, and by posting notice, all at least ten days prior to such hearing. Any decision made by such Board of Arbitrators shall be in writing within ten days from the date of such public hearing, and a copy thereof, duly authenticated, shall be delivered on the day the decision is rendered to each the company and the city, and shall be binding upon all parties concerned.
(C) The company shall be responsible to pay any fees incurred by the Board of Arbitrators, including reasonable fee for services provided by the Board.
(Ord. 2-1976, passed 8-2-76; Am. Ord. 4-1978, passed 5-15-78; Am. Ord. 19-1982, passed 2-7-83)