(1) Any municipality which has acquired or constructed any public utility plant, property, or facility has the power to contract with a public utility for the operation of any part or the whole thereof, subject to the provisions of articles 1 to 7 of this title and to exercise, in respect to such public utility, the powers of regulation and supervision conferred upon it by the commission.
(2) Sections 40-5-101 to 40-5-104 shall not apply to railroads.
Source: L. 17: p. 417, � 1. C.L. � 2946. CSA: C. 137, � 36. CRS 53: � 115-5-4. C.R.S. 1963: � 115-5-4. L. 69: p. 938, � 30.