The city may in any lawful manner and upon the payment of a fair valuation lawfully ascertained, purchase, condemn, acquire, take over, and hold the property and plant of the grantee in whole or in part. If such purchase or taking over be upon revocation of the franchise or at the expiration of the term of the franchise, such evaluation shall not include any sum for the value of the franchise or grant under which such plant and property is being operated.
(Prior code § 19-50; Ord. 619-88, 11-8-1988)