No franchise shall be granted, extended or renewed by the city without the approval of a majority of the qualified electors residing within its corporate limits voting thereon at a primary, general or special election; and the mayor and council shall submit any matter for approval or disapproved to such election at any primary or general municipal election, or call a special election for such purpose at any time upon thirty (30) days' notice; and the mayor and council shall require, before calling any such election, that the estimated expense thereof (to be determined by the mayor and council) shall be first deposited by the applicant for such franchise with the clerk.
Cross References: Elections generally, ch. XVI.