No ordinance or resolution for a public improvement requiring or authorizing the expenditure of more than fifteen percent (15%) of the average gross annual current operating expenditures by the City for the five (5) fiscal years immediately preceding, or for the granting of a general public utility franchise, shall be effective until the same shall be approved by a majority vote of the electors voting thereon; provided, however, no convention center, exhibit hall, sports arena, or municipal theater, other than a sports arena located in the City's Marina District, being the area bounded by the Maumee River, Interstate Highway 280, Front Street and Main Street, shall be constructed, acquired, or leased unless the ordinance or resolution authorizing construction bidding, acquisition, or leasing shall have been approved by a majority vote of the electors voting thereon, whether or not such ordinance or resolution requires or authorizes the expenditure of more or less than fifteen percent (15%) of the average gross annual current operating expenditures by the City for the five (5) fiscal years immediately preceding. A general public utility is one in which all the people of the City may have an interest.
(Amended by electors 9-11-01)