The City Council may, by ordinance, grant a franchise to furnish the City and its inhabitants with any public utility or service and to use the public streets for that purpose. The exercise by any person, firm or corporation of any privilege for which a franchise is required without procuring such franchise from the City is prohibited.
Before granting any franchise, the City Council shall adopt a resolution declaring its intention to grant the same, stating the name of the proposed grantee, the character of the franchise and the terms and conditions upon which it is proposed to be granted. Such resolution shall set forth the time and place at which any person may appear before the City Council and be heard. The City Council shall direct the City Clerk to publish the resolution at least once within 15 days of its passage in a newspaper circulated in the City and designated by the City Council. The date and time fixed for the public hearing shall be not less than 20, nor more than 60 days after the adoption of the resolution.
At the hearing, the City Council shall consider all protests and comments. Thereafter, the City Council may amend, grant or deny the franchise. Such decision shall be final and conclusive, subject to the right of referendum of the People. The provisions of this section shall not apply to a transfer or assignment of an existing franchise.