§ 15.7. Limitations on the Granting of Franchises.
Franchises may be granted by the city for a term not exceeding thirty years. No exclusive franchise shall be granted. Each franchise shall include a provision requiring the franchise to take effect within one year after the adoption of the ordinance granting it, except in the case of grants to take effect at the end of an existing franchise. An irrevocable franchise and any extension of amendment of such a franchise may be granted by the city only when the ordinance granting such franchise has first received the affirmative vote of at least three-fifths of the electors of the city voting thereon at a regular or special city election. An irrevocable franchise ordinance may be approved by the Council, for referral to the electorate, only after a public hearing has been held thereon and after the grantee named therein has filed with the Clerk his unconditional acceptance of all the terms of the franchise. A special election for such purpose may be ordered by the Council only when the expense of holding such election has first been paid to the Treasurer by the grantee.