This chapter shall not apply to any trackage, installations, or facilities or to that part of the tracks, installations, or facilities of any railroad company on which there is a valid and subsisting franchise at the date of this chapter, but shall apply to such company, or trackage, installations, or facilities thereof, at any time a portion thereof is freed from such exception by virtue of the expiration of any franchise by and between the company and the city. [Code 1980 at § 11.20.080].