LLOYD LOWNDES, ESQUIRE, GOVERNOR. 273

erty of the grantee situated in, above or under the highways,
avenues, streets, lanes or alleys aforesaid, with its appurte-
nances, shall thereupon be and become the property of the City,
without further or other compensation to the grantee; or such
grant may provide that upon such determination, there shall be
a fair valuation of the plant and property, which shall be and
become the property of the City at its election, on paying the
grantee said valuation. If, by virtue of the grant, the plant and
property are to become the property of the City, without money
payment therefor, the City shall have the option, either to take
and operate the said property on its own account, or to renew
the said grant for not exceeding twenty-five years on a re-valu-
ation, or sell the same to the highest bidder at public sale. If
the original grant shall prescribe that the Mayor and City
Council of Baltimore shall at its election make payment for
such plant and property, such payment shall be at a fair valua-
tion of the same as property, excluding any value derived from
the franchise or right, and if the City shall make payment
for such plant and property, it may, in that event, operate
the plant and property on its own account for five years, after
which it may determine either to continue such operation on its
own account or to lease the said plant and property and the said
franchise or right to use the highways, avenues, streets, lanes
and alleys or other public property in connection therewith,
for limited periods, under such rules and regulations as it may
prescribe, or to sell the plant and property to the highest bidder
at public sale. Every grant of any such franchise or right shall
make provision, by way of forfeiture or otherwise, of the grant
for the purpose of compelling compliance with the terms of the
grant, and to secure efficiency of public service at reasonable
rates, and the maintenance of the property in good condition,
throughout the full term of the grant. The grant shall also
specify the mode of determining the valuations and re-valua-
tions which may be provided for therein.

10. Before any grant of the franchise or right to use
any highway, avenue, street, lane or alley, either on, above
or below the surface of the same, shall be made, the proposed
specific grant, embodied in the form of an ordinance, with all
the terms and conditions, including the provisions as to rates,
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