§ 74-151. Tax levied.

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Certain utility companies have each been granted the franchised use of city streets, property rights held by the city, or city property for the purpose of conducting its business such as the placement of poles, wires aboveground or underground, pipes above ground or underground subject to terms and conditions determined in each franchise granted by the city government. No such franchise shall be granted for a term of more than 30 years, nor without compensation to the city to be provided for in the franchise ordinance, which compensation shall be three percent of the annual gross income received from or on account of said franchise.

(Code 1979, § 4-103)

                    
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