The sale of utilities and any other property, real, personal or mixed, or of any interest therein, the value or which is more than Twenty-five Thousand Dollars ($25,000.00) or such amount as the City Council may from time to time establish by ordinance, shall be made only by authority of a special non-emergency ordinance. Such ordinance shall be published in full in a newspaper of general circulation in the City within ten (10) days after its passage, and shall include a section reading substantially as follows: “Section __. This ordinance shall be referred to a vote of the electors of the City if a proper referendum petition is properly filed within thirty days after its passage; otherwise it shall go into effect thirty days after its passage.”
(Amended by Res. 2002-15, passed 9-3-02 and approved by the Electorate November 4, 2002)