Any person, firm or corporation furnishing the city or its inhabitants with any public utility or public service of any kind, or using the public streets, ways, alleys, or places for the operation of plants, works or equipment for the furnishing thereof, or traversing any portion of the city for any purpose, may be required by ordinance to have a valid and existing franchise therefor.
The council shall provide, by ordinance, the method of procedure and the terms and conditions under which such franchises may be granted. Such ordinance shall provide for public notice and public hearings. Any ordinance granting any franchise or privilege shall be published at the expense of the applicant therefor.
The council is empowered to grant such franchise by ordinance and to prescribe the terms and conditions of such grant. No franchise grant shall, in any way or to any extent, impair or affect the right of the city to acquire the property of the grantee thereof by eminent domain proceedings in the manner provided by law.