The City shall not sell, exchange, lease or in any way alienate or dispose of the property, easements, income, equipment, privileges or other assets belonging to or appertaining to the Department of Water and Sewers, which it may acquire, unless the proposition for such purpose has first been submitted, at an election held for such purpose, in the manner provided in the City Charter, to the electors of the City who are qualified to vote on questions involving the direct expenditure of money or the issuance of general obligation bonds of the City, and unless such proposition is approved by such voters by a three-fifths majority vote. However, the provisions of this section shall not apply to the sale or exchange of any article of equipment or machinery which is worn out or useless, or which could, with advantage to the Municipal water and sewer service, be replaced by new and improved machinery or equipment.
(Ord. 5. Passed 6-17-52.)