(A)   The Town Council may enter into written franchise agreements for companies to serve the town.
   (B)   Such agreements shall be binding on the parties as to rental amounts, safety requirements, inspections, indemnification, bond requirements and other related areas.
   (C)   Such agreements, in order to be approved, must be passed by an appropriate ordinance of the Town Council, and shall be kept on file and open for public inspection during regular business hours in the office of the Clerk-Treasurer.
(1985 Code, § 4-3-1)