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(7) A current financial statement of the applicant verified by a certified public accountant or otherwise certified to be true, complete, and correct. (8) The proposed construction and service schedule, the proposed rate structure for cable services, and the proposed commitment to provide public, educational, and governmental access capacity, services, facilities, and equipment. (9) Any additional information that the City deems to be reasonably necessary. (c) Consideration of Initial Applications (1) Upon receipt of an application for an initial franchise, the City Manager or the City Manager's designee must prepare a report and make recommendations to the City Council concerning that application. (2) A public hearing will be noticed prior to any initial franchise grant, at a time and date approved by the City Council. Within 30 days after the close of the hearing, the City Council will make a decision based upon documents and testimony received at the hearing as to whether the franchise should be granted, and, if granted, subject to what conditions. The City Council may grant one or more franchises, or may decline to grant any franchise. (d) Franchise Renewal Franchise renewals will be processed in accordance with then-applicable law and with the renewal terms, if any, of the franchise agreement. The City and Grantee, by mutual consent, may enter into renewal negotiations at any time during the term of the franchise. A renewal application fee deposit in an amount established by resolution of the City Council must accompany the renewal application or the renewal request. That renewal application fee deposit will cover all anticipated costs associated with reviewing and processing the renewal application, including the review of Grantee's prior compliance with the franchise, the ascertainment of the community's cable-related needs and interests, the engagement of technical and legal consultants, and expenses related to negotiations and document preparation. If actual costs exceed the renewal application fee deposit, the Grantee must pay the difference to the City within 30 days following receipt of an itemized statement of those costs. If actual costs are less than the renewal application fee deposit, the remaining balance will be refunded to the Grantee. Sec. 15-257 Contents of Cable Television Franchise Aqreements Ordinance No. NS-2468 Page 9 of 24