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No grant of franchise and no renewal, extension or amendment of such grant shall be valid unless it specifically reserves to the City the right, at intervals to be set forth in the franchise ordinance, to terminate the same by purchase or lease and operations of the property of the utility used in or conveniently useful for the operation of the utility in the streets of the City or elsewhere; nor shall any such grant, renewal or extension be valid which does not either definitely fix and determine the price which shall be paid by the City for the property of the public utility and the terms of payment in the event of purchase or lease by the City, or provide the precise means and methods whereby such purchase or rental price and terms shall be fixed and determined.
Nothing in such ordinance or in this Charter shall prevent the City from acquiring the property of any utility by condemnation proceedings or any other method provided by law; but such methods of acquisition shall be in addition to the power of purchase or lease to be reserved in the grant, renewal or extension.
All grants of franchises and all renewals of extensions shall provide for a revision of rates at specified intervals, and no such grants, renewals or extensions shall be valid which permit rates to continue for a period of more than five years without being subject to revision.
No ordinance granting a franchise or granting a renewal or extension thereof 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, extension or renewal, and unless it shall expressly provide therein that the rental price to be paid by the City shall exclude all value of such grant, renewal or extension.
Revocable permits for laying spur tracks across or along streets, alleys or public grounds, to connect a steam or electric railroad with any property in need of switching facilities shall not be regarded as a grant within the meaning of this Charter, but may be permitted in accordance with such terms and conditions as the Council may by ordinance prescribe.
No franchise, grant, renewal, extension or amendment shall be valid which does not reserve to the City the right to prescribe the form and manner in which the records and accounts of the public utility shall be kept; and the right to audit, examine and keep copies of such records and accounts and to require from said utility detailed reports at any time relating to the finances, operation, management and ownership of such utility; provided, however, that the form of accounts which the State Public Utilities Commission may prescribe shall be controlling insofar as they may apply, but the Council may prescribe more detailed forms and exact more comprehensive reports than is required or stipulated by said State Commission; nor shall any such franchise, grant, renewal, extension or amendment be valid which does not reserve to the City the right to establish standards of service, prevent unjust discrimination in service or rates, require adequate extension of plant, equipment and service.
The Council shall at all times control the distribution of space in, over, under or across all streets or public grounds occupied by public utility fixtures. All rights granted for the construction and operation of public utilities shall be subject to the continuing right of the Council to require such reconstruction, relocation, change or discontinuance of the appliances used by the utility in the streets, alleys, avenues and highways of the City as shall in the opinion of the Council be necessary in the public interest. The Council may make and enforce any and all other regulations conducive to the safety, convenience and well-being of the public.
If any action shall be instituted or prosecuted directly or indirectly by the grantee of any such grant, or by its stockholders or creditors, to set aside or have declared void any of the terms of any such grant, the whole of such grant may be thereupon forfeited and annulled at the option of the Council to be expressed by ordinance. All such grants shall make provision for the declaration of a forfeiture by the Council for the violation by the grantee of any of the terms thereof.
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