§ 8. Exercise of power of public utility regulation.

Subject to the provisions of the Constitution of the United States of America, and the Constitution and laws of Oklahoma, the Council may regulate and fix the charges, fares, or rates of the grantee of a franchise and prescribe the services to be furnished by such grantee and the manner in which services shall be rendered. No rules, regulations, fares, or rates shall be adopted or changed except after notice to the public and to the grantee of the franchise and after a public hearing. The Council may inspect books and records and compel attendance of witnesses and may by ordinance terminate the franchise for a failure or refusal of a franchise holder or any officer, employee, or agent thereof to testify or to produce books or records.