Section XVIII-5(a): Grant, extension or renewal - Approval by voters - Term.

  (a) No municipal corporation shall ever grant, extend, or renew
a franchise, without the approval of a majority of the qualified
electors residing within its corporate limits, who shall vote
thereon at a general or special election; and the legislative
body of any such corporation may submit any such matter for
approval or disapproval to such electors at any general municipal
election, or call a special election for such purpose at any time
upon thirty days' notice; and no franchise shall be granted,
extended, or renewed for a longer term than twenty-five years.