(A) (1) The charges made to subscribers for services of the franchisee hereunder shall be fair, reasonable and no higher than necessary to meet all costs of the service (assuming efficient and economical management) and provide a fair return on the original cost, less depreciation, of the properties devoted to the service (without regard to any subsequent sale or transfer price or cost of the properties).
(2) The franchisee shall receive no consideration whatsoever from its subscribers for or in connection with its service to its subscribers other than in accordance with this subchapter, without approval of the town.
(B) The Board of Commissioners shall have the power, authority and right to cause the franchisee’s rates and charges to conform to the provisions of division (A) above and for this purpose, after a public hearing affording proper notice to the franchisee and any other interested parties, it may deny increases or order reductions in these rates and charges when it determines that in the absence of the action on its part, the franchisee’s rates and charges or proposed increased rates and charges will not conform to division (A) above.
(1988 Code, § 111.50) (Ord. passed 10-2-1979) Penalty, see § 10.99