Any street passenger railway company, surface, elevated, or underground or motor-power company, incorporated under the laws of this Commonwealth, and authorized to own, maintain, or operate transit facilities, or any of them, or any part thereof, in any city of the second class of this Commonwealth, or within the limits of any city, borough, or township adjacent thereto, is hereby authorized and empowered to sell or lease transit facilities, or any of them, or any part thereof, to such city; to purchase or lease transit facilities, or any of them, or any part thereof, from such city; to accept licenses from such city for the use of transit facilities, or any of them, or any part thereof; to enter into agreements with such city for the connection of tracks and the interchange of cars, and agreements for the construction or operation, or for both the construction and operation of transit facilities or any of them, or any part thereof, by said company, upon such terms and conditions as may be agreed upon between the mayor and council of such cities and the said company, and as may be authorized by ordinance of such cities. Any railroad company incorporated under the laws of this Commonwealth is hereby authorized and empowered to enter into agreements and accept licenses from such city, for the use by said company of the transit facilities of such city, or any of them, or any part thereof, and for the connection of tracks and the interchange of cars upon such terms and conditions as may be agreed upon between the mayor and council of such cities and the said company, and as may be authorized by ordinance of such cities.