The grantee of any franchise awarded to a public utility, by accepting the terms and conditions thereof, stipulates and agrees that in any proceeding for the purpose of regulating the rates of the grantee, no greater value shall be placed upon the franchise than the actual cash paid therefor by the grantee, including the cost of advertising paid by the grantee pursuant to § 114.007.
('64 Code, § 10-15) (Ord. 168, passed 2-9-61)