5. No such concession, right, privilege or franchise may be granted to any person, enterprise, corporation or association unless it provides for reasonable compensation or consideration paid to that city and whether or not a different or additional indemnity is provided for the beneficiary, it must pay the fixed fee prescribed by the franchise by-law. The management body shall also have access to all books, receipts, records, records and documents of such a addressee, necessary to verify the accuracy of such declaration and correct it if they prove to be defective, and shall have the right to verify them at any time. If this indication of gross revenue is incorrect, this payment shall be made in accordance with this corrected declaration. Foulston Siefkin strives to provide our franchised clients and distributors with quality legal services in this rapidly expanding and evolving area of law. (k) Without prejudice to other provisions of this Act, payment made by a local telecommunications intermediation service provider that complies with the terms of an unmatured exemption regulation that is applicable to the supplier shall meet the payment attributable to the supplier under this Act. 4. The management body of a city shall have the right, at any time during the existence of a contract, grant, lien or franchise for the carrying out of such an activity, to fix by regulation an appropriate timetable for the maximum rates to be charged to that city and its inhabitants for gas, light and heat, electric light. electricity or heat, steam heat or water; tram or bus and coach company fares; or the rates charged to such a city or its inhabitants by a person, business or entity operating under another franchise under this Act. The management body shall not at any time set a rate prohibiting that person, its company or that entity from earning a reasonable interest rate for the fair value of the immovable property used and useful in such a public service.
In determining and determining that fair value, the value of that franchise, contract and privilege granted and granted by the city to that person, partnership or body shall not be taken into account in determining the adequacy of the rates to be charged to the inhabitants of that city. . . .