§4405. Indeterminate permits granted by cities of 100,000 or more; option to purchase utility; forfeiture or enforcement of permit

The governing authority of every city having a population of one hundred thousand or more may grant indeterminate permits for the use of the streets and other public places in connection with the operation and maintenance of any public utility, which permit shall continue in force until such time as the city purchases the utility under the option provided for below or until the permit is otherwise terminated according to law. No such permit shall be granted except upon the condition that the city granting it shall have a perpetual option to purchase the utility, at any time, at a price agreed upon or to be ascertained and determined in a manner agreed upon at the time of the granting of the permit and to be set forth therein. The governing authority may prescribe, stipulate, or agree to such other conditions of the permits as it deems proper. Any violation of any of the conditions shall be sufficient grounds for forfeiture of the permit, in which event, or for other legal cause, the city may sue for its forfeiture, cancellation, or revocation or, at its option, may sue for its enforcement, with damages suffered. By the grant and acceptance of an indeterminate permit, no utility shall be exempted or relieved from the payment of any franchise tax or consideration to which the municipality would be entitled by the terms of any existing franchise under which the utility may be operated.