OPINION
THOMPSON, Justice.
Central Telephone Co. provides telephone service to the inhabitants of North Las Vegas under a 50 year franchise granted to its predecessor by Ordinance No. 163, adopted May 5, 1958. This ordinance provides, among other things, that the telephone company shall pay to the City "for supervision and inspection and not for revenue" one percent of its gross revenue from specified charges, and that such payments shall be "in lieu of...
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