The City Council shall have the power to provide for the lighting of streets, avenues
and public grounds and buildings, and to purchase, acquire or establish gas, electric
and other lighting plants, and to furnish gas, heat and electricity to persons within
or without the City limits on such terms as it may provide; to purchase, procure or
establish water works and to provide water for the use and convenience of the inhabitants
of the City or others, and to prescribe and fix the charges for the same and the manner
in which the same shall be paid; and to provide for systems of public transportation
within the City, and to regulate the operation thereof. The City Council shall also
have the power to make contracts with individuals, firms or corporations for the use
of street lighting and other purposes. Such contracts for water and electricity and
gas to be made for such time as the City Council may deem for the best interests of
the City.