(1) Cities of first and second class and incorporated towns are given power and authority to vacate public utility easements or segments thereof, within such cities and towns under the conditions and in the manner provided for the vacation of streets and alleys by §§ 14-301-301 — 14-301-306.
(2) A petition requesting the vacation of a public utility easement, signed by the property owners through whose property the easement extends shall be filed with the municipal legislative body and dealt with in the manner provided for by law.
(3) Upon the adoption of an ordinance vacating a public utility easement, or a segment thereof, the ownership of the lot, block, or parcel of real property through which the easement extends shall cease to be burdened with the easement.
(4) Nothing in this section shall be construed as empowering first-class and second-class cities and incorporated towns to vacate utility easements still in use or to vacate utility easements owned by utilities without just compensation therefor.
(5) This section shall be cumulative to §§ 14-301-301 — 14-301-306.