(1) At the conclusion of the six-month notification period, in the event that agreement is not reached pursuant to § 14-207-103(a) or (b), or the municipality and the electric public utility disagree on the valuations described in § 14-207-104, but no later than three (3) years from certification of annexation or three (3) years from termination of any franchise agreement authorized by this subchapter, the municipality may, after paying, or, if applicable, commencing payment of, any amounts not in dispute and depositing into the registry of the court the amount in dispute, or such lesser amounts as the court, after hearing, determines to be just, exercise the right and power of eminent domain under the procedures of § 18-15-301 et seq., and may take possession of the properties and facilities and commence service to the customers as of the date it makes the deposit; provided, however, that any compensation or damages for the properties, facilities, and customers taken shall be determined in accordance with § 14-207-104.
(2) The date of taking for the purposes of this subchapter shall be either the date the deposit authorized by this section is made or, in the event no deposit is made, the date of the court award.