7-14-4301. Regulation of railways. (1) The city or town council may grant the right-of-way through the streets, avenues, and other property of a city or town for the purpose of street or other railroads, to regulate the running and management of the railroads and to compel the owner of a street or other railroad to keep the street in repair when occupied by the street or other railroad, to regulate the speed of railroad engines, and to require railroad companies to station flag persons at street crossings.

(2) The city or town council may regulate and control the laying of railroad tracks and may prohibit the use of engines and locomotives or regulate the speed of engines and locomotives.