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<br /> Z'1~ <br /> -4- <br /> benchmark, that rate shall become the initial <br /> cable rate and the cable operator's rate will <br /> be capped at that level. <br /> (2) If the current basic cable rate exceeds the <br /> benchmark, the rate shall be the greater of the <br /> cable operator's per channel rate on'September <br /> 30, 1992, reduced by 10 percent, or the <br /> applicable benchmark, adjusted for inflation <br /> and any change in the number of channels <br /> occurring between September 30, 1992 and the <br /> initial date of regulation. <br /> (3) If the current basic cable rate exceeds the <br /> benchmark, but the cable operator's per channel <br /> rate was below the benchmark on September 30, <br /> 1992, the initial basic cable rate shall be the <br /> benchmark, adjusted for inflation. <br />(h) Cost-of-service showings. If a cable operator does <br />not wish to reduce the rate to the permitted level, the <br />cable operator may submit a cost-of-service showing in an <br />attempt to justify an initial basic cable rate above the <br />reasonable rate standard. The city counci~ will review a <br />cost-of-service submission pursuant to FCC standards for <br />cost-of-service review. The city council may approve an <br />initial basic cable rate above the benchmark if the cable <br />operator makes the necessary showing; however, a cost-of- <br />service determination resulting in a rate below the <br />benchmark or below the cable operator's September 30, 1992 <br />rate minus 10 percent, will prescribe the cable operator's <br />new rate. <br />(i) Decision. <br /> I , <br /> , <br /> (1) By resolution. After completion of its review <br /> of the cable operator's proposed rates, the <br /> city council will adopt its decision by <br /> resolution. The decision will include one of <br /> the following: <br /> (A) If the proposal is within the reasonable <br /> rate standard or is justified by a cost- <br /> of-service analysis, the city council will <br /> approve the initial basic cable rate <br /> proposed by the cable operator, or <br /> (B) If the proposal is not within the <br /> reasonable rate standard and the cost-of- <br /> service analysis, if any, does not justify <br /> the proposed rates, the city council will <br /> establish an initial basic cable rate that <br /> is within 'the reasonable rate standard or <br /> that is justified by a cost-of-service <br /> analysis. <br /> (2) Rollbacks and refunds. If the city council <br /> determines that the initial basic cable rate as <br /> submitted exceeds the reasonable rate standard <br /> or that the cable operator's cost-of-service <br /> showing justifies a lower rate, the city ~ <br /> council may order the rates reduced ln <br /> accordance with subsection (g) or (h) above, as <br /> applicable. In addition, the city council may <br /> order the cable operator to pay refunds to <br /> subscribers of the excessive portion of the <br /> rate with interest (computed at applicable <br /> rates published by the Internal Revenue Service <br /> for tax refunds and additional tax payments), <br /> retroactive to September 1, 1993. The method <br />