The grantor, in any lawful manner and upon the payment of a fair valuation, may lawfully purchase, condemn, acquire, take over, and hold the property and plant of the grantee in whole or in part. If such purchase or taking over shall be upon the revocation of the franchise or at the expiration of the term of the franchise, such valuation shall not include any sum for the value of the franchise or grant under which such plant and property is being operated.
('65 Code, § 7-8.1001) (Ord. 244-C.S., passed - - )