Nothing herein shall prohibit the council from deregulating taxi rates. The council may by resolution provide for the deregulation of taxi rates. No resolution authorizing deregulation of rates shall be adopted without a hearing before the council. Notice of such hearing shall be given to each certificate holder in writing by the city clerk at least five days before the hearing and the council may give such other notice as it shall deem necessary. Pursuant to the terms and conditions of the resolution of deregulation, any certificate holder may establish, change, modify or amend the schedule of rates to be charged by all vehicles operated by each holder of a certificate of public convenience and necessity under the provisions of this chapter, following posting of such change, modifications or amendments to the taximeter rates in each vehicle in such a place as to be in view of all passengers thirty days prior to such taximeter rates taking effect. All changes, modifications or amendments to the schedule of rates shall be filed with the city clerk and director of public works thirty days prior to such rates taking effect.