During continued substantial compliance with the terms of this subchapter by the owner of any telephone exchange, the charge levied by this subchapter shall be, and continue to be, in lieu of all concessions, charges, excise, franchise, license, privilege, and permit fees or taxes, or assessments, except ad valorem taxes. This section is not intended to extinguish or abrogate any existing arrangement whereby the town is permitted to use the underground conduit, duct space, or pole contracts of the company for the fire alarm and police call systems of the town, or either of them.
(Prior Code, § 7-302)