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(A) The City Council has the power to fix and regulate the rates and charges of all utilities and public services, as provided herein.
(B) Upon receiving written request from a utility or public service requesting a change in rates, or upon a recommendation from the City that rates for services provided by or owned by the City be changed, the City Council shall consider the change.
(C) The utility must show the necessity for the change by an evidence required by the City Council, including, but not limited to, the following:
(1) Cost of its investment for service to the City;
(2) Amount and character of expenses and revenues connected with rendering the service;
(3) Copies of any reports or returns filed with any State or Federal regulatory agency within the last three years;
(4) Demonstration that the return on investment, if any, is within State and Federal limitations.
(D) If not satisfied with the sufficiency of evidence, the City Council may hire rate consultants, auditors and attorneys to investigate and, if necessary, litigate requests for rate changes, the expense of which shall be reimbursed to the City by the franchisee.
(Adopted by electorate, May 11, 2013)