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reserves, funds for replacement, and expenses of <br />expansion, including a fair return after <br />depreciation of its properties devoted to such <br />services, and at no time shall its rates and <br />charges exceed the maximums established by the <br />Board. <br />(2) Rate Review. <br />(a) The Board shall review the franchisee's <br />maximum rates at the end of each two year <br />period. <br />(b) The Board may review the established <br />maximum rates on the petition of the <br />franchisee. A petition for maximum rate <br />increase shall be filed with the Board no <br />less than,90 days prior to the requested <br />implementation date of the rate increase. <br />A petition for a maximum rate increase <br />shall be accompanied by sufficient <br />documentation to allow the Board to make a <br />reasonable investigation of the need for <br />the requested increase. Within 30 days <br />after the filing of the petition for rate <br />review the Board shall hold a public <br />hearing, after giving notice of same, on <br />matters relating to the franchise and the <br />proposed maximum rate increase, including <br />but not limited to the performance of the <br />franchisee, the services offered, the <br />handling of complaints and the proposed new <br />rates. <br />Within 30 days after the public hearing the <br />Board shall render a written decision on <br />the petition, accepting, rejecting, or <br />modifying same and stating the basis of its <br />decision. <br />(c) The Board shall consider the following <br />factors in relation to any maximum rate <br />increase petition: <br />(1) The ability of a franchisee to render <br />CATV services and to derive a <br />reasonable profit therefrom under the <br />existing maximum rate schedule; <br />(2) The ability of the franchisee to render <br />CATV services and to derive a reason- <br />able profit therefrom under any <br />proposed rate schedule; <br />(3) The revenues and profits derived from <br />CATV services; <br />(4) The efficiency of the franchisee; <br />(5) The quality of CATV services offered by <br />the franchisee; <br />(6) The responsiveness of the franchisee to <br />subscribers' complaints; <br />(7) The extent to which the franchisee has <br />adhered to the terms of the franchise <br />agreement; and <br />(8) Fairness to the City, the subscribers <br />and other City residents. <br />(d) The franchisee may reduce rates and charges <br />at its discretion without prior approval of <br />the Board, but with notice to the Board. <br />