A franchise ordinance, renewal, extension, or amendment which is subject to revocation at the will of the Commission may be enacted by the Commission without referral to the voters, but shall not be enacted unless the following has occurred:
(A) Thirty (30) days have elapsed since the application has been made.
(B) A public hearing has been held on the proposed ordinance.
(C) The grantee has filed with the City Clerk an unconditional acceptance of all terms of such franchise.
(Charter effective 1-1-77)