Every grant, renewal, extension, or amendment of a public utility franchise, whether provided in the ordinance or not, shall be subject to the right of the City Council:
(1) To forfeit any such franchise by ordinance at any time for failure of the holder thereof to comply with the terms of the franchise. Such power shall be exercised only after written notice to the franchise holder stating wherein the franchise holder has failed to comply with the terms of the franchise and setting a reasonable time for the correction of such failure, and shall be exercised only after hearing and after such reasonable time has expired.
(2) To impose reasonable regulations to insure safe, efficient, and continuous service to the public.
(3) To require such expansion, extension, enlargement, and improvements of plants and facilities as are necessary to provide adequate service to the public.
(4) To require every franchise holder to furnish to the City, without cost to the City, full information regarding the location, character, size, length, and terminals of all facilities of such franchise holder in, over, and under the streets, alleys, and other public property of the City; and to regulate and control the location, relocation, and removal of such facilities.
(5) To collect from every public utility operating in the City such proportion of the expense of excavating, grading, paving, repaving, constructing, reconstructing, draining, repairing, maintaining, lighting, sweeping, and sprinkling the streets, alleys, bridges, culverts, viaducts, and other public places of the City as represents the increased cost of such operation resulting from the occupancy of such public place by such public utility, and such proportion of the costs of such operations as results from the damage to or disturbance of such public places caused by such public utility; or to compel such public utility to perform, at its own expense, such operations as above listed which are made necessary by the occupancy of such public places by such utility or by damage to or disturbance of such public places caused by such public utility.
(6) To require every franchise holder to allow other public utilities to use its poles and other facilities, including bridges and viaducts, whenever in the judgment of the City Council such use shall be in the public interest, provided that in such event reasonable terms of use may be imposed and a reasonable rental shall be paid such owner of facilities for such use. Provided further, that inability of such public utilities to agree upon terms of use and rentals for such facilities shall not be an excuse for failure to comply with such requirement by the City Council.
(7) a. To require the keeping of accounts in such form as will accurately reflect the value of the property of each franchise holder which is used and useful in rendering its service to the public and the expenses, receipts, and profits of all kinds of such franchise holder;
b. To examine and audit at any time during business hours the accounts and other records of any franchise holder; and
c. To require reports on the operations of the utility, which shall be in such form and contain such information, as the City Council shall prescribe.