Sec.
1. Elections for approval of franchise.
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; the council shall submit any
matter for approval or disapproval to such electors at any primary or general election or
call a special election for such purpose at any time upon thirty (30) days notice; and the
council shall require, before calling any such election, that the estimated expense
thereof (to be determined by the council) shall be first deposited by the applicant for
such franchise with the city clerk. No franchise shall be granted, extended or renewed for
a longer time than twenty-five (25) years and no exclusive franchise shall ever be
granted.
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Sec.
2. Establishment of municipally-owned and operated utilities.
The city shall have the power to own and operate any public utility to
construct and install all facilities that are reasonably needed and to lease or purchase
any existing utility properties used or useful to public service. The city may also
furnish service to adjacent and nearby territories which may be conveniently and
economically served by the municipally-owned and operated utility, subject to the
limitations of the provisions of the general laws of this state. The council may provide
by ordinance for the establishment of such utility and provide for its regulation and
control and the fixing of rates to be charged. The council may by ordinance provide for
the extension, enlargement or improvement of existing utilities, and provide reasonable
reserves for such purpose.
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