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0 ti to make specific findings of fact in this case, including the following: (1) The fair rate of return on the net valuation of Mid -Florida's properties. ..(2) The net valuation of Mid -Florida's properties used in its utilities system for this franchise. .(3) The amount of gross revenues Mid -Florida derived under this franchise for its latest fiscal year. (4) The latest annual expenses of Mid -Florida that were related to the operation of.this franchise under efficient and economic management. (5) If the Board determines that Mid -Florida is furnishing a poor quality of water or poor service, then specific findings as to this should be stated by the Board, including whether the water quality meets minimum state standards, (6) Any other specific findings of fact which legally justify the Board in denying a rate increase or in granting a lower rate increase than requested by Mid -Florida. On remand, the Board must give Mid -Florida a written notice of any specific deficiencies or defaults and must give Mid -Florida a reasonable time in which to remedy and correct the deficiencies or defaults to properly furnish the water service required by the fra c� hjsa, Utility Act of Indian River County, Sec. 24-26(h). In addition, the Board must make a written re - quest of the specific accounting reports and data which the Board requires from Mid -Florida and give Mid -Florida a rpaSon- able time in which to furnish to the Board such reports and data. P Section 15 of the franchise. After Mid -Florida has furnished such accounting records, the Board shall then fix a fair rate of return -on the net valuation of Mid -Florida's property based upon the evidence presented at the public hearings. Determination of a fair and reasonable rate of return for services performed by a utility.company is time consuming and complicated, and the methods used by the experts in this field are probably incomprehensible by laymen. For this reason, -5- Boa 35 PAGE 21 I