(1) Any water or waterworks commission in this state now operating under §§ 14-234-301 — 14-234-309 shall be excluded from all the provisions of this subchapter.
(2) Any city of the first class operating a municipally owned electric light plant and system and electing the commissioners thereof by popular vote prior to January 1, 1956, under the provisions of subchapter 2 of this chapter shall not be governed by this subchapter but shall continue to operate their municipally owned light plants under that subchapter and other applicable legislation and any ordinance passed pursuant to that subchapter.
(3) Any cities of the first class heretofore operating a municipally owned water system, sewer system, or any other municipally controlled improvement district, which have been consolidated under and controlled by a specially created board of directors under any special act of the General Assembly, and particularly Acts 1923, No. 487, shall be exempt from the operation of this subsection and shall continue to operate under the acts providing for their creation.