In addition to the Town’s power to buy, construct, lease, maintain, operate and regulate public utilities and to manufacture, distribute, and sell the output of such utility operations, the Town shall have such further power as may now or hereafter be granted under the Constitution and Laws of the State of Texas.
The Council shall have the power by ordinance to grant, renew, and extend all franchises of all public utilities of every character operating within the Town and, with the consent of the franchise holder, to amend the same, provided, however, that no franchise shall be granted for a term of more than twenty (20) years from the date of the grant[,] renewal, or extension.
No ordinance granting, renewing, extending or amending a public utility franchise shall be granted until a public meeting shall have been called and held before final passage and until such ordinance shall have been approved by a majority of the Council at a regular meeting. No such ordinance shall become effective until thirty (30) days after its passage.
No public utility franchise shall be transferable except with the approval of the Council expressed by ordinance. The term “transferable” as used herein, shall not be construed in such a manner as to prevent the franchise holder from pledging said franchise as security for a valid debt or mortgage.
No franchise or easement involving the right to use the same either along, over, across, under or upon the streets, alleys, highways, parks and public ways shall be valid unless granted in compliance with the terms hereof.
All grants, renewals, extensions, or amendments of public utility franchises, whether it be so provided in the ordinance or not, shall be subject, but not limited, to the right of the Town:
A. 
To repeal the same by ordinance at any time for failure to begin construction or operation within the time prescribed or otherwise to comply with the terms of the franchise, such power to be exercised only after due notice and hearing.
B. 
To require an adequate extension of plant and service as is necessary to provide adequate service to the public, and maintenance of the plant and fixtures at the highest reasonable standard of efficiency.
C. 
To establish reasonable standards of service and quality of products and prevent unjust discrimination in service or rates.
D. 
To prescribe the form of accounts kept by each such utility.
E. 
To impose regulations to insure safe, efficient and continuous service to the public. The franchise holder in opening and refilling of all earth openings shall re-lay the pavement and do all other work necessary to complete restoration of streets, sidewalks or grounds to a condition equally as good as or better than when disturbed.
F. 
To regulate, locate or prohibit the erection of any and all poles, wires or other utility equipment, conveyance or structure, on the streets, alleys and public places of said Town, and to cause the same to be changed, removed, altered, increased, diminished, placed underground, or be supported by poles of such material, kind, quality and class as may be determined by said Council whether same be telegraph, telephone, electric or otherwise, and to enforce the provisions hereof by appropriate action in any court of competent jurisdiction.
G. 
To employ experts to advise and assist in determining a rate and equitable profit to a public utility.
All persons, corporations, or association of persons, to whom a franchise or privilege may hereafter be granted shall pay to the Town for such privileges such compensation therefor as may be fixed by the Council in the grant of such franchise or privilege. Such compensation as fixed by contract or provided by any Texas Statute or Statutes and any amendments thereto, and/or federal law or regulations corresponding to the same, shall become due and payable at such time as the Council shall fix in the grant of such franchise or privilege, and upon the failure on the part of any person, corporation, or association of persons to pay said compensation when due, the franchise or privilege as enjoyed by him or them, shall, after thirty (30) days from such date become forfeited.
In accordance with any Texas statute or statutes and any amendments thereto, and/or federal law or regulations corresponding to the same, the Council shall determine, fix and regulate the charges, fares or rates of any person, firm or corporation that may now or hereafter enjoy a franchise or exercise any other public privilege from said Town, and of any and all public utilities of whatsoever kind, and to prescribe the kind of service to be furnished to the public by such person, firm or corporation, and the manner in which it shall be rendered and from time to time alter or change such rules, regulations and compensation, after reasonable notice, to, and a hearing of, the owners of such utilities, and after a public hearing thereon, provided that the rates, charges and fares so fixed shall at all times be reasonable, and permit a reasonable net return on the actual value of the physical properties and equipment of such utilities. In this connection, the Council may require any utility or franchise holder to furnish such financial reports as the Council may request, including reports of actual operating costs and the financial condition of its operation within the Town of Highland Park.