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of the second arbitrator. <br /> <br /> (1) Within 15 days after appointment of all arbitrat- <br /> ors and upon ten days written notice to parties, <br /> the arbitrators shall commence a hearing on the <br /> rate change proposed by Grantee. <br /> <br /> (m) The hearing shall be recorded and may be tran- <br /> scribed at the request and expense of either <br /> party. All hearing proceedings, debates and de- <br /> liberations shall be open to the public, City, and <br /> Grantee and at such times and places as contained <br /> in the notice or as thereafter publicly stated in <br /> the order to adjourn. <br /> <br />(n) The arbitration panel shall be required to ap- <br /> prove, reject or modify the rate change proposed <br /> by Grantee according to the standards established <br /> in this Franchise. <br /> <br />(o) At the close of the hearings and within 30 days, <br /> the arbitrators shall prepare written findings and <br /> make a written decision agreed upon by a majority <br /> of the arbitrators which shall be served by mail <br /> upon City and Grantee. <br /> <br />(p) The decision of a majority of the arbitrators <br /> shall be binding upon both parties, provided that <br /> either party may pursue any judicial remedies <br /> otherwise available to either party. <br /> <br />(q) Should the rate change be rejected or modified by <br /> a majority of the arbitrators, the Grantee shall <br /> <br />45 <br /> <br /> <br />