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rate shall become effective upon its noticed effective date but the notice shall also include- current financials and other information as specified in Article VI, Section 4.,D.(3)(c) (I - 9). (i) Upon review by City of the information provided in the notice by Grantee, City may schedule a public hearing on the proposed rate increase within two (2) weeks from the date of receipt of the notice. Grantee will notify the public as specified in Article VI, Section 4.,D.(3)(d). The City will publish notice ten (10) days prior to the hearing in its official newspaper. ( (ii) After closing the public hearing, City will have thirty-one (31) days within which to make any determination regarding the noticed rate increase; however, any proposed change in rates or charges shall become effective upon the date specified in the notice of Grantee regardless of the determination of City. (Hi) The City may utilize a rate consultant to advise it on proposed rate changes and to assist it in maintaining uniform rates within the territory. A rate consultant may be any person who has sufficient background and experience, in the sole opinion of City, to properly evaluate and analyze rates and charges. (iv) All costs for the review of a notice for rate or charge change should be paid by City from the Franchise fee. c (5) In the event the law should provide for the regulation of other than Basic Service rates by City, the procedure for the change of other than Basic Service rates shall be as outlined above, except that subsequent to the public hearing, should the City fail to approve the change of rates, either City or Grantee may initiate binding arbitration purusant to Minnesota Statutes except as delineated in the following procedures. (a) The parties shall, within 15 days of City's - 37 -