A franchise ordinance, renewal, extension, or amendment which is not subject to revocation at the will of the Commission shall not be enacted or become operative, unless the proposition shall first have been approved by three-fifths (3/5ths) of the electors voting thereon.
(A) The commission may approve franchise ordinance for referral to the electorate, only after the following has occurred:
(1) Thirty (30) days have elapsed since the application has been made.
(2) A public hearing has been held on the proposed ordinance.
(3) The grantee has filed with the City Clerk an unconditional acceptance of all terms of such franchise.
(B) No special election for approval of a franchise ordinance shall be ordered by the Commission unless the expense of holding the election, as determined by the Commission, shall have first been paid to the City Treasurer by the proposed grantee.
(Charter effective 1-1-77)