The City shall have the power to buy, own or construct, and to maintain and operate, within or without the City limits, transportation systems, sanitation systems, and any public service utility systems, and to demand and receive compensation for services Furnished by the City for private purposes or otherwise, and to have the original jurisdiction to regulate by ordinance the collection or compensation for services rendered by all of such municipality-owned and operated public utility services save and except telephone systems (the collection and compensation for same to be regulated by the State). That said City shall have the power to acquire by lease, purchase, or condemnation, the property of any person, firm, or corporation now or hereafter conducting any such business, for the purpose of operating such public utility or utilities for the purpose of distributing such service throughout the City or any portion thereof.