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Franchise Resolution No. , <br />as amended. Said water/wastewater rates <br />are subject to adjustment pursuant to <br />said Resolution upon proper showing by <br />the Utility. Said rates are also <br />subject to adjustment in the event the <br />water/wastewater franchise is terminated <br />and Indian River County commences to <br />furnish water/wastewater service to your <br />property." <br />rli <br />SECTION XV <br />RATE SCHEDULE <br />A. The rates charged by the Utility for its service shall at <br />all times be compensatory, fair, and reasonable, and <br />designed to meet all necessary costs of the service, <br />including a fair rate of return on the Utility's investment <br />under efficient and economical management. The Utility <br />agrees that the County has the authority to enter into this <br />Franchise Agreement and the regulation of the Utility. <br />Utility agrees that it shall be subject to all authority now <br />or hereafter possessed by the County or any other regulatory <br />body having competent jurisdiction to fix just, reasonable, <br />and compensatory rates. When this franchise takes effect <br />the Utility shall have authority to charge and collect not <br />more than the schedule of rates set at a public hearing for <br />that purpose which shall remain effective until changed or <br />modified as herein provided. In setting said rates, the <br />County shall be guided by the standards set forth in Section <br />367.081 Florida Statutes. In any event the Utility shall <br />always be responsible for justifying its proposed rates and <br />charges by the submission of accounting and engineering data <br />to the County. Rates and charges may be amended after <br />public hearing upon proper justification by the Utility. <br />B. (1) The approved rates of any utility which already <br />receives all or any portion of its utility service from a <br />governmental agency or from a water or sewer utility <br />regulated by the County and which redistributes that service <br />to its utility customers shall automatically be increased <br />or decreased without hearing upon verified notice to the <br />County 30 days prior to its implementation of the increase <br />or decrease that the rates charged by the governmental <br />agency or other utility have changed. The approved rates of <br />any utility which is subject to an increase or decrease in <br />