15.16.040 TERM.

Every franchise granted pursuant to this chapter, shall, except when a definite term therefor has been specified in the ordinance granting the same, be indeterminate; that is to say, every such franchise shall endure in full force and effect until the same is, with the consent of the Public Utilities Commission of the state, voluntarily surrendered or abandoned by its possessor, or until the state, or some municipal or public corporation thereunto duly authorized by law, has purchased by voluntary agreement, or has condemned and taken, under the power of eminent domain, all property actually used and useful in the exercise of such franchise, and situate within the territorial limits of the City, or until such franchise has been forfeited upon noncompliance with its terms by the possessor thereof.