Subject to any applicable law, the Council may, by ordinance, reasonably regulate and control the exercise of any franchise, including the maximum rates, fares or prices to be charged by the grantee. No franchise value shall be included in the valuation of the grantee’s property in regulating utility rates,
fares or prices under any applicable law, ordinance or regulation or in proceedings for municipal acquisition of the grantee’s property by purchase or eminent domain.
(Prior Code, § 3.25) (Ord. 203, Third Series, effective 8-21-1997; Ord. 18, Fourth Series, effective 6-24-2021)