Council may by ordinance grant permission to any person, firm or corporation to construct and operate a public utility in, on, under or above any public street or ground within the Municipality. It may prescribe in the ordinance the kind and quality of service or product to be furnished, the rate or rates to be charged therefor, and any other terms conducive to the public interest. Such grant may be amended or renewed in the same manner and subject to the provisions established by this section for original grants. Such grant, amendment or renewal shall be for such period of time as Council may determine, but shall not exceed a period of fifteen (15) years.
(Amended June 7, 1983.)