If the franchise granted, grants all or any of the rights and privileges owned by the grantee by reason of any existing franchises, whether or not from the city, owned in whole or in part by the grantee from and after the effective date of the ordinance granting the new franchise, such existing franchises, to the extent that the new franchise grants the same rights and to the extent of grantee's interest therein, shall become inoperative as to all incorporated territory within the city, except as to highways which, upon the effective date of the ordinance granting the franchise, are included within the highway system of the state as state highways, granting, however, to the city or any public entity, the right to recover from the grantee any and all sums due under the terms of such superseded franchises arising prior to the effective date of the ordinance granting the franchise.
('64 Code, § 10-97) (Ord. 168, passed 2-9-61)