(1) Any ordinance granting, renewing, extending or amending a public service or utility franchise must be read at two (2) separate meetings of the City Council and shall not take effect until thirty (30) days after the final reading. Within fifteen (15) days following the first reading of the ordinance, a summary of the ordinance shall be published once in a newspaper designated as the official newspaper of the City. The expense of such publication shall be borne by the prospective franchisee.
(2) No franchise shall be granted for a term of more than twenty (20) years from the date of the grant, renewal or extension of any franchise.
(3) No franchise may be exclusive.
(4) No utility, public service provider, or public conveyance shall use the streets, right-of-way or property of the City without obtaining a franchise.