Whereas the city is the holder of legal title to more than a majority of the shares of the capital stock of North Side Canal Company, Limited, which represents the water right appurtenant to the lands and lots within the city, it is declared that the distribution and apportionment of irrigation water to the inhabitants of the city, the conveyance of irrigation water through the public streets, avenues and alleys of the city, and the construction, maintenance and operation of the irrigation works within the city, are subject to regulation, control and supervision by the mayor and council of the city. (Prior code §27-7)