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e SESSION XIV =CE OF AOJUSI OF FATES Upon the initial connection of any customer to the water/wastewater system or upon the recamection of any new, caat to the water/wastewater system, the Utility shall furnish, by moil, a notice setting forth the rate schedule than in effect and further containing the following statement: "The water/Wastewater rates set forth herein have been authorized pursuant to Indian River County Water/Wastewater Franchise Resolution No, as mnended. Said water/Wastewater rates are subject to adjustment pursuant to said Resolution upon proper showing by the Utility. Said rates are also subject to adjusbcent in the event the water/wastewater franchise is teeminatoi and Indian River County ttmmnces to furnish water/wastewater service to your Pr111111ty SEC£ICN %V FATE SCHEDULE The rates charged by the Utility for its service hereunder shall at all times be cotensatory and shall be fair and reasonable and designed to meet all necessary costa of the service, including a fair rate of return on the fair valuation of its properties devoted thereto under efficient and ecommLical manegerent. The Utility agrees that the Canty has the authority to enter into this Franchise Agreement and the regulation of said Utility. Utility agrees that it shall be subject to all authority now or hereafter possessed by the Canty or any other regulatory body having competent jurisdiction to fix just, reasonable and oaRx:nsatory rates. Wnen this franchise takes effect, the Utility shall have authority to charge and collect, but not to exceed, the following schedule of rates and rate of return, as contained in "Exhibit B" attached hereto, which shall remain effective until changed or modified as herein provided. In setting said rates, the Canty shall be guided by the standards set forth in Florida Statute 387.081 relating to the establishnent of rates and chargee. In any event, the Utility shall always be responsible for justifying its proposed rates and charges by the submission of accounting and engineering data to the County Utilities Director. The Canty shall grant rates to the Utility which are just, reasonable and eapensatory, which allow the Utility a fair rate of return on its property, systems and additions thereto. Fates and charges may be mended, Wan proper justification by the Utility. other provisions of this Ordinance deal with the mechanism, of the setting of rates and charges.