The Council may grant permission to any individual, company, or corporation to construct and operate a public utility in the streets and public grounds of the City, subject to the provisions of statute requiring consents of abutting owners, and subject also to the provisions of this Charter. The ordinance shall prescribe the kind and quality of service or product to be furnished, the rate or rates to be charged therefor, the manner in which the streets and public grounds shall be used and occupied, and any other terms and conditions conducive to the public interest.