The 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, and 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 manner and subject to the provisions established by this Charter for original grants. Such grant, amendment or renewal shall be for such a period of time as Council may determine, and shall not be perpetual or exclusive. No consent of the owner of property abutting on any public street or ground shall be necessary to the effectiveness of any grant, amendment, or renewal unless the construction or operation of the public utility authorized thereby is of such character as to constitute an additional burden upon such public street or ground. All such grants, amendments or renewals shall be made subject to the continuing right of Council to provide reasonable regulations for the operation of such utilities with preference to such streets and public grounds, including the right to require such reconstruction, relocation, or discontinuance of appliances, plant or equipment used in such streets, or public grounds, as shall, in the opinion of Council, be necessary in the public interest.
No ordinances making, amending, or renewing such grant shall be passed by the Council until it shall have been read at three (3) regular meetings of the Council.