(A) The city hereby consents and agrees to the leasing of the city’s municipal utility properties and facilities described as follows:
(1) All of the water production, storage, transportation, and distribution system and facilities;
(2) Sanitary sewage collection, transportation, proceeding, and disposal system and facilities;
(3) Garbage and trash collection, transportation, proceeding, and disposal facilities; and
(4) All of the electric production, transmission, and distribution system and facilities, including all tangible property, real and personal, and all interests therein appertaining or related thereto or used in connection therewith, and all rights-of-way, easements, licenses, and other rights and privileges appertaining or related to such system and facilities, or the use thereof, together with all and singular appurtenances and hereditaments thereto appertaining and belonging, including (without limitation by reason of express mention) all buildings and improvements now or hereafter located thereon and all fixtures now or thereafter existing thereto, together with any and all additions, enlargements, extensions, and improvements thereto acquired by the city during the life of the lease for a primary term of 50 years, renewable for successive like terms, to the trustees of the City Public Works Authority (a public trust of which the city is the beneficiary), with such lease to become effective as of 12:01 a.m., on the day following June 26, 1980, the effective date of the ordinance, and the Mayor of the city hereby is authorized and directed to execute the aforesaid lease upon behalf of the city as lessor, in several multiple originals, and after the same shall have been attested by the City Clerk, to deliver such lease to the trustees of the City Public Works Authority.
(B) This provision shall be referred to a vote of the electors of the city if a proper referendum petition is properly filed within 30 days after its passage; otherwise, it shall go into effect 30 days after its passage.
(Prior Code, § 50.14) (Ord. 400, passed 5-27-1980)