To grant to Virginia Electric and Power Company its successors and assigns, the franchise right for the term and upon the conditions herein stated, to use the streets, alleys and public places of the Town of Halif~x, North Carolina, for purposes herein set forth and to acquire, erect, maintain and use poles, transmission towers, wires, appliances over and along and to acquire, construct, maintain and use conduits or subways, including necessary manholes and to run cables and wires in under and along the streets, alleys and public places of the Town of Halifax, in the State of North Carolina, for the purpose of distributing, transmitting and selling electric current for light, heat and power at any point within the Town of Halifax.