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The city may grant a franchise to any person for the use of the streets, alleys, bridges, easements, and other public places of the city for the furnishing of any public utility service to the city and its inhabitants. Public utility franchises and renewals, amendments, and extensions thereof shall be granted only by contract. Public utility franchises shall include provisions for fixing rates and charges and may provide for readjustments thereof at periodic intervals. With respect to any public utility franchise granted after the effective date of this charter, whether or not so provided in the granting contract, the city may:

(1) terminate the same for the violation of any of its provisions, for the misuse or nonuse thereof, for failure to comply with any provision thereof, or any regulation imposed under authority of this charter or of the code;

(2) require proper and reasonable extension of plant and the maintenance thereof at the highest practicable standard of efficiency;

(3) establish reasonable standards of service and quality of products, and prevent unjust discrimination in service or rates;

(4) require continuous and uninterrupted service to the public in accordance with the terms of the franchise throughout the entire period thereof;

(5) impose other regulations determined by the Council to be conducive to the health, safety, welfare, and convenience of the public;

(6) require the public utility to permit joint use of its property and appurtenances located in the streets, alleys, bridges, easements, and public places by the city and other utilities, insofar as such joint use may be reasonably practicable and upon payment of reasonable rental therefor; and, in the absence of agreement, upon application by the public utility, provide for arbitration of the terms and conditions of such joint use and the compensation to be paid therefor;

(7) require the public utility to pay any part of the cost of improvement or maintenance of streets, alleys, bridges, easements, and public places, that arises from its use thereof, and to protect and save the city harmless from all damages arising from such use; and

(8) require the public utility to file with the City Clerk reports concerning the utility and its financial operation and status and to file with the City Manager such drawings and maps of the location and nature of its facilities as the Council may request.