| (11) |
| (a) | A municipality shall annually produce a report of the municipality's provision of broadband services, cable television services, and public telecommunications services. |
| (b) | The report described in Subsection (11)(a) shall include, for each broadband service, cable television service, or public telecommunications service provided by the municipality:
| (i) | the price list described in Subsection (8) that is effective at the time of the report; |
| (ii) | the number of households and businesses within the coverage area of the municipality's network; |
| (iii) | the number of subscribers to the service, including net additions or losses, for the prior fiscal year; |
| (iv) | the revenues generated from the service for the prior fiscal year; |
| (v) | a full-cost accounting for the prior fiscal year regarding:
| (A) | the municipality's purchase, lease, construction, maintenance, and operation of the facilities necessary to provide the service; and |
| (B) | the municipality's expenditure of funds for labor, financing, and administering the service; |
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| (vi) | the projected growth in demand in the municipality for the service for the next 10 years; |
| (vii) | the projections, from the time of the report for the next 10 years, of a full-cost accounting for a municipality to purchase, lease, construct, maintain, or operate the facilities necessary to provide the service; |
| (viii) | the projections, from the time of the report for the next 10 years, of the revenues to be generated from the service; |
| (ix) | with respect to the information described in Subsections (11)(b)(iv) through (viii), a comparison to the results of the feasibility study for the service adopted by the municipality under Section 10-18-202; |
| (x) | a determination as to whether the revenues described in Subsection (11)(b)(iv) exceed the costs described in Subsection (11)(b)(v) by the amount necessary to meet the bond obligations of any bonds issued to fund the service; and |
| (xi) | a disclosure of events in the prior fiscal year that are material to the municipality's issuance of bonds to fund the service, including:
| (A) | debt service delinquencies and defaults; |
| (B) | non-payment covenant defaults; |
| (C) | unscheduled reserve fund draws; |
| (E) | credit rating changes; |
| (H) | private debt placements. |
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| (c) | The report shall be submitted to the legislative body of the municipality before October 1 of each year with a summary of the report findings that is no longer than one page in length. |
| (d) | At the next regular meeting after the legislative body of the municipality receives the report, the legislative body shall schedule a public hearing to be held within 30 days after the day of the meeting at which the public hearing is scheduled, for the purpose of allowing:
| (i) | the municipality's staff to present the report; and |
| (ii) | the public to become informed and ask questions about the report findings. |
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| (e) | The municipality shall provide notice of the public hearing described in Subsection (11)(d) for the municipality, as a class A notice under Section 63G-30-102, for at least two weeks before the day on which the public hearing is held. |
| (f) | After the public hearing described in Subsection (11)(d), the legislative body of the municipality shall:
| (i) | adopt by resolution the report described in Subsection (11)(a); and |
| (ii) | make the report available for inspection at a designated office of the municipality during normal business hours and via hyperlink on the municipality's website. |
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