§ 1.4. PUBLIC UTILITY REGULATION.

The City shall have all authority permitted under the laws of Texas to regulate and fix the reasonable rates to be charged by public utility corporations engaged in supplying gas, electricity, water, sewerage or any other convenience or commodity to consumers, provided such rates shall be fixed, in accordance with the applicable laws of Texas, after giving the company an opportunity to be heard. The City shall have access to any company books, records or accounts necessary to exercise this power. Whenever a public utility company, railroad company, telegraph company, irrigation company or any other public corporation has an obligation imposed by franchise or by any lawful order of the City, the City shall cause written notice to be given to an appropriate official in the company stating the act required to be performed and specifying a reasonable time for performance. Failure to comply in timely fashion shall subject the company to such penalty as may be provided by ordinance.