No right of control or use of public property of the City may be transferred except by ordinance consistent with this Charter. No act or omission of the City Council or officer or agent of the City may be construed to grant, renew, extend, or amend, in any way, any right, franchise, or easement affecting public property of the City except as provided by this Charter.
The City Council shall have the power by ordinance to grant, renew and extend franchises of public utilities operating in the City. With consent of the franchise holder, the City Council may by ordinance amend franchises of public utilities, but no franchise may be granted for an indefinite term.
Grants, renewals, extensions and amendments of public utility franchises, whether or not provided in the ordinance granting the franchise, shall be subject to the right of the City Council:
a. 
To forfeit the franchise by ordinance for failure of the holder to comply with the terms of the franchise. This right may be exercised only after written notice to the franchise holder stating how the holder has failed to comply with the terms of the franchise and setting a reasonable time for the correction of the failure. Forfeiture may occur only after a hearing and after expiration of a reasonable time for correction.
b. 
To impose reasonable regulations to insure safe, efficient and continuous service to the public.
c. 
To require expansion, extension, enlargement and improvement of plant and facilities as necessary to provide adequate service to the public.
d. 
To require franchise holders to furnish the City, without cost to the City, full information regarding the location and precise description of all facilities of the franchise holder in, over or under the City; and to regulate and control the location, relocation and removal of the facilities.
e. 
To collect from public utilities operating in the City a proportionate part of the increased cost of City operations and services attributable to the occupancy by or use of public property by the public utility; to collect a proportionate part of the cost of City operations and services required as a result of damage to or disturbance of public property caused by the public utility; and to compel the public utility to perform at its own expense repairs or other operations made necessary by the occupancy or use of or damage to or disturbance of public or private property by the public utility.
f. 
To require one franchise holder to allow other holders to use its facilities, if the City Council considers that joint use to be in the public interest. In the event of joint use, reasonable rental shall be paid to the owner for the use of the facility. The inability of franchise holders to agree on terms and rentals for the use of each other’s facilities shall not be an excuse for failure to comply with a joint use requirement by the City Council.
g. 
To require franchise holders to keep records which accurately reflect the value of the franchise holder’s property used and other property useful in rendering its service to the public and which reflect the franchise holder’s expenses, receipts and profits of all kinds.
h. 
To examine and audit at any time during business hours the accounts and other records of the franchise holder.
i. 
To require reports on the operations of the utility in the form and containing information, that the City Council directs.
Subject to the laws of the United States of America and the State of Texas, the City Council shall have the power after reasonable notice and hearing to regulate by ordinance the rates, charges and fares of public utilities operating in the City.