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Mayor Billy G. Moore and City Council Members <br />Page 16 <br />January 11, 1999 <br />as tised herein, shall not be construed in such a manner as to prevent the franchise holder <br />from pledging of a said franchise as security for a valid debt or mortgage. <br />Sec. 11.06. Franchise value not to be allowed. <br />No value shall be assigned to any franchise granted by the city in fixing reasonable <br />rates and charges for utility service within the city, or and in determining the just <br />compensation to be paid by the city for public utility property which it may acquire by <br />condemnation or otherwise. <br />Sec. 11.07. Right of regulation. <br />Every grant, renewal, extension or amendment of a public utility franchise, whether <br />so provided in the ordinance or not, shall be subject to the right of the council: <br />(la) To forfeit any such franchise by ordinance at any time for the failure of holder <br />thereof to comply with the terms of the franchise, such power to be exercised only <br />after notice and hearing, and an opportunity to correct the default. <br />(2b) To require such expansion and extension of plant and facilities as are necessary <br />to provide adequate service to the public and maintain plant and fixtures at the <br />highest reasonable standard of efficiency. <br />(3e) To establish reasonable standards of service and quality of products and prevent <br />unjust discrimination in service or rates. <br />(4d) To impose regulations to ensure safe, efficient and continuous service to the <br />public. <br />(5) To collect from every franchise holder its fair and just proportion of the expense <br />of maintaining areas of public property occupied by the franchise holder, or to <br />compel the franchise holder to perform its fair and just share of the work of <br />maintaining areas of public grope occupied by the franchise holder at its own <br />expense. <br />(6e) To examine and audit at any time during regular business hours the accounts <br />and records of any such utility which are relevant to the city's right of regulation. <br />(7f) To prescribe the form of accounts kept by such-utility: <br />(8g)To require such compensation and rental as may be permitted by federal or state <br />the laws of the State of Texas.