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(6) A current financial statement of the applicant vedfled by a Certified Public <br />Accountant audit or otherwise certified to be true, complete and correct to the <br />reasonable satisfaction of the City; <br /> <br /> (7) A proposed construction and service schedule; <br /> <br /> (8) Any reasonable relevant additional information that the City deems <br />applicable. <br /> <br />C. Consideration of Initial Applications <br /> (1) Upon receipt of any application for an initial Franchise, the City Manager or <br />a delegate shall prepare a report and make recommendations respecting such <br />application to the Council. <br /> <br /> (2) A public hearing shall be set prior to any initial Franchise grant, at a time <br />and date approved by the Council. Within sixty (60) days after the close of the headng, <br />the Council shall make a decision based upon the evidence received at the hearing as <br />to whether or not the initial Franchise(s) should be granted, and, if granted, subject to <br />what conditions. The Council may grant one (1) or more Franchises, or may decline to <br />grant any Franchise. <br />D. Franchise Renewal <br /> <br /> Franchise renewals shall be in accordance with applicable law. Grantor and <br />Grantee, by mutual consent, may enter into renewal negotiations at any time dudng the <br />term of the Franchise. <br /> <br />13 <br /> <br /> <br />