§ 26. Rates.

The Company shall supply electric energy to consumers within the City of Cedar Rapids at just and reasonable rates. It is recognized that under the statutes of the State of Iowa, the Iowa Utilities Board of the Iowa Department of Commerce is vested with legal authority to supervise, fix or change rates and charges authorized to be charged by the Company to electric energy consumers. In the event rates or charges in general, or any class or type of rate or charge shall, during the term of this franchise, cease to be regulated by any state or federal agency, the City Council reserves the right to regulate such rates within the City with the costs of such regulation to borne by the Company as a part of its cost of doing business, and reflected in its rates.