That any company or corporation hereafter organized for the purpose of supplying water to any city, town or village in this state, the population whereof does not exceed 25,000 inhabitants according to the last official census thereof preceding the organization of such company or corporation, shall, by specifying the same in its articles of association, have the right to also produce and supply any such city, town or village, and the inhabitants thereof, with electricity for lighting, heating and motive purposes and any other purpose for which the same is, or may become, of practical use. And to that end shall also have the right to purchase from any individual, copartnership or corporation owning or operating any electricity producing plant, its said plant, together with any or all of the property franchises and rights connected therewith, to be operated in the city, town or village in which such company is to be located and operating.

     Any company or corporation heretofore organized and doing business under and by virtue of the general laws of this state, and operating a waterworks system in any city, town or village in this state, the population whereof shall not exceed 25,000 inhabitants, according to the last official census preceding the filing of its amended articles of association so as to show the added purpose, have the right to erect, purchase, own and operate a plant or plants, in addition to its waterworks system and plant, to produce and supply electricity as mentioned in section 1 hereof.

     Every such company or corporation shall have the right to acquire and hold all such real and personal property as shall be necessary, in addition to that provided for by the general laws of this state under which it is organized, for the carrying on of the business so added by virtue of the provisions of this act, and shall have full power to produce, generate, furnish and sell electricity for lighting, heating, motive and such other purposes, as the same may be desired by any city, town or village within which such company carries on its business, or by the inhabitants thereof. And such company or corporation shall have the power to lay, construct and maintain conductors and poles, and stretch wires for the conducting of electricity through the streets, alleys, lands and squares of any such city, town or village, with the consent of the municipal authorities thereof, under such reasonable regulations as they may prescribe; and such company or corporation may make and enforce all such contracts, by-laws and rules as may be deemed necessary and proper to carry into effect the foregoing powers.