A.   An irrevocable franchise, and all renewals, amendments and extensions of it, may be granted only by ordinance.
   B.   The City may approve such an ordinance only after a public hearing has been held on it and after the grantee named in it has filed with the City Clerk its unconditional acceptance of the terms of the franchise.
   C.   The ordinance may not take effect unless it has been approved by the voters of the City, where State law so requires, or, unless it has been approved by a two-thirds (2/3) majority of City Council members elect, where approval of the voters is not required by State law.
   D.   When approval of the voters of the City is required, the ordinance as approved by the City shall be published in a daily newspaper of general circulation in the City not less than thirty (30) days before the election at which it is submitted to the voters. The City may not call a special election unless the expense of holding the election has first been paid to the City Treasurer by the grantee.
   E.   A franchise for the use of the streets or other public places of the City or for the transaction of a local business may not be sold or transferred in any manner nor may a party other than the grantee use the franchise, unless the City consents by ordinance.
(Adopted by the electorate, 11-5-1974)