Section 54. - Mayor and council shall frame law.
Section 55. - Power of taxation over public service corporations.
No grant, extension or renewal of any franchise or other use of the streets, alleys, or other public grounds of this municipality, shall divest the City of its control and regulation of such use and enjoyment. Nor shall the power to regulate the charges for public services be surrendered and no exclusive franchise shall ever be granted.
Section 54. - Mayor and council shall frame law.
The mayor and council shall be vested with the power of adopting all laws and ordinances not inconsistent with the constitution and laws of this State for the taxation, regulation and control of all public service and public utility corporation now or hereafter existing or operating in whole or in part within the City.
Section 55. - Power of taxation over public service corporations.
All grants and renewals of franchises and privileges shall reserve to the City the right to terminate the same and to purchase all the property of the utility in the streets, avenues, alleys and public places in the City and elsewhere as may be provided in the franchise making the grant or renewal, used in or useful for the operation of the utility, at such prices as may be agreed upon between the owner and the City, and in the event of a disagreement, the same may at the option of the City be submitted to arbitration under the arbitration laws of the State of Oklahoma; or in the event no arbitration agreement can be reached, then the City may obtain such property by condemnation under the eminent domain laws of the State of Oklahoma.
No franchise making such grant or renewal shall be valid unless it shall expressly provide therein that the price to be paid by the City for the property that may be acquired by it from such utility, by purchase, condemnation or otherwise, shall exclude all value of such grant or renewal.