(a) Any public utility accepting or operating under any permit, license, or franchise shall by acceptance of any permit, license, or franchise be deemed to have consented to a future purchase of its property actually used and useful for the convenience of the public by the municipality in which it is situated, upon notice of not less than ninety (90) days from the municipality of its intention to make the purchase for the just compensation and the damages, including severance damages, if any, and under the terms and conditions of purchase and sale determined by the Arkansas Public Service Commission in the manner provided in §§ 14-200-106 — 14-200-108.
(b) The public utility shall thereby be deemed to have waived the right of the necessity of such taking to be established by the verdict of a jury and to have waived all other remedies and rights relative to condemnation except such rights and remedies as are provided in § 14-200-108.
Structure Arkansas Code
Subtitle 12 - Public Utilities Generally
Chapter 200 - Municipal Authority over Utilities
§ 14-200-101. Jurisdiction over utilities — Appeal — Definition
§ 14-200-102. Violation of municipal franchise — Penalty — Damages
§ 14-200-103. Duration of permits granted by municipalities
§ 14-200-104. Continuation of existing franchises and permits
§ 14-200-105. Acceptance of permit as consent to future sale
§ 14-200-106. Municipal power to acquire, construct, or operate public utility plant
§ 14-200-107. Election to authorize purchase by municipality
§ 14-200-108. Compensation and damages for purchase
§ 14-200-109. Municipal power to finance electric facilities system
§ 14-200-110. Municipal access to utility records
§ 14-200-112. Exemption from regulation by state commissions