To the extent permitted by federal law, including applicable
FCC rules and regulations, and state law, including applicable PSC rules and
regulations, the City Council is authorized to, and may choose to, regulate
the rates for basic multichannel service, which includes basic cable service
and those charges (such as converter rental outlet fees) associated with the
provision of multichannel service. In the event that the City Council chooses
to regulate rates for basic service, the City Council shall follow any, and
all, applicable FCC and PSC rules, regulations, and procedures concerning
rate regulation.