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Section 10.U3. Public hearing. <br />Before any franchise ordinance is adopted or any rates, fares, or prices to be <br />charged by a publzc utility are fixed by the council, the council shall hold a public hearing <br />on the matter. Notice of such hearing shall be publishcd at least once in the official <br />newspaper not less than ten days' prior ta the date of the hearing. <br />Section 10.04. Power of regulation reserved. <br />Subject to any applicable law the council may by ordinance reasonably regulate <br />and control the exercise of any franchise, including the maximum rates, fares, or prices to <br />be charged by the grantee. No franchise value shall be included in the valuation of the <br />grantee's property in regulating uiility rates, fares, ar prices under any applicable law, <br />ordinance, or regulation or in proceedings for municipal acquisition of the grantee's <br />property by purchase or eminent domain. <br />Section 10.05. Renewals or extensions. <br />Every renewal or modzfication of a franchise, including an existing franchise, <br />shall be subject to the same limitations and shall be granted in the same manner as a new <br />franchise. <br />o92oao.do� 32 <br />