The word "franchise" as used in this Charter shall be construed to include all privileges granted to any person, firm, association or corporation in, over, upon or under any of the highways or public places of the City, whether such privileges have been or shall hereafter be granted by the City or by the State of Minnesota.
No franchise shall be granted except by ordinance adopted by a majority vote of all of the Aldermen, and every ordinance by which the Council shall propose to grant any franchise shall contain all the terms and conditions of the franchise to be granted. No exclusive franchise shall ever be granted; no franchise shall be granted for a term exceeding 20 years; and no ordinance granting a franchise for a period of more than two years shall be effective until it shall be submitted at an election and approved by a majority of the voters on the question.
The words "long-term contract" shall be construed to mean and be limited to contracts for the purchase by the City or any of its departments of any materials or supplies, including contracts for the purchase of electricity, gas or other source of energy which runs more than two years. No such long-term contract shall be entered into until the same shall have been approved by resolution adopted by a majority vote of all of the Aldermen and, except in cases of contracts whereby the City Council reserves the unconditional right to cancel and terminate such contracts at any time after the expiration of such two-year period or in cases of contracts for the purchase of electricity, gas or other source of energy, until such resolution approving the contract shall have been submitted at an election and approved by a majority of the voters voting on the question. In the case of contracts for the purchase of electricity, gas or other source of energy, no such contract shall be entered into except on recommendation of a majority of the members of the Public Utilities Commission to the Council and then approved by resolution adopted by a majority vote of all of the Aldermen.