City of Bolivar v. Ozark Utilities Co.

— The City of Bolivar, a city of the fourth class, on the 2nd day of November, 1943, by its Board of- Aldermen, enacted an ordinance, providing that:

“. . . any public utility company whose franchise for the use of the streets, avenues, alleys or other public places in the City of Bolivar, for the purpose of maintaining and operating its distribution system expires, shall, after such expiration and until this Ordinance is repealed or otherwise modified, pay to the City of Bolivar, as rental for such use thereof, five per centum (5%) of its gross monthly revenues derived from the sale of its…