The franchise shall commence on the effective date hereof and shall continue and endure in full force and effect until voluntarily surrendered or abandoned by the grantee, its successors or assigns, with the consent of the Public Utilities Commission of the State of California, or until all property used and useful in the exercise of the franchise and situated within the territorial limits of the City is transferred to the State of California, or some municipal or public corporation pursuant to voluntary agreement or the exercise of the power of eminent domain, or until the franchise is forfeited for noncompliance with its terms by the grantee.
(Ord. 63, § 4, 1958)