(A)   The right to control easement, use, and ownership and title to the streets, highways, public thoroughfares, and property of the City, its avenues, parks, bridges, and all other public places and property, are hereby declared to be inalienable except by ordinance duly passed by a majority of all members of the City Council, and no grant of any franchise or lease, or right to use the same, either on, through, along, across, under, or over the same, by any private corporation, association, or individual shall be granted by the City Council for a longer period than twenty (20) years.
   (B)   No franchise shall ever be granted until it has been, approved by a majority of the City Council, after having been considered at three (3) regular meetings of the City Council, nor shall any such franchise, grant or privilege ever be made unless it provides for adequate compensation or consideration therefore to be paid to the City.
   (C)   Every such franchise or grant shall make adequate provision, by way of forfeiture of the grant or otherwise, to secure efficiency of public service at reasonable rates and to maintain the property devoted to the public service in good repair throughout the term of grant of said franchise.
   (D)   No franchise grant shall ever be exclusive.
   (E)   The City Council may prescribe the forms and methods of the keeping of accounts of any grantees under franchise, provided that the forms and methods of keeping such accounts have not already been prescribed by a State or Federal agency.
(Adopted by electorate, May 11, 2013)