OPINION
CONNOR, Justice.
The sole issue in this case is whether certain municipal franchises granted to a cable television company were superceded by state legislation which purportedly pre-empts the field of public utilities regulation. The three franchises in question, each of which requires payment of a 3% franchise tax, were granted to appellant, B-C Cable, between 1965 and 1967 by the City of Juneau, the City of Douglas and the Greater Juneau Borough...
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