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Mayor Billy G. Moore and City Council Members Page 15 January 11, 1999 ordinances; and (4) To regulate public service companies ufiities in the interest of public health, welfare and safety. (c) The authority of the council under this article is subject to federal and state laws regarding public utilities. The provisions of this article will be disregarded to the extent of any conflict between them and federal and state laws. Sec. 11.02. Power to grant franchise. The council shall have the power, by ordinance, to grant, renew, extend and amend all franchises of all public utilities of every character operating within the city. No franchise shall be for an indeterminate period, and no franchise shall be granted for a term of more than twenty (20) five years from the date of the grant, renewal or extension. Sec. 11.03.6rnnt Authorizations not to be exclusive. No grantor franchise, permit, certificate or other authorization to construct, maintain or operate a public utility service compM, and no renewal or extension of any such authorization, grant shall be exclusive. Sec. 11.04. Ordinance granting franchise; public hearing. All ordinances granting, renewing, extending or amending a public utility franchise shall be read at two three (3) separate regular meetings of the council, and shall not be finally passed until thirty (30) days after the first reading; and no such ordinance shall take effect until thirty (36) days after its final passage:; Intl The council shall conduct a public hearing on any such franchise ordinance before the first reading of the ordinance. Notice of the public hearing, including the full text of the such ordinance shall be published once, within fifteen (f 5) days ig before the first reading; in a newspaper of general circulation in the city, and the expense of such publication shall be borne by the applicant for the prospective franchise holder. Sec. 11.05. Transfer of franchise. No public utility franchise shall be assigned or transferred trartsferable except with the approval of the council expressed by ordinance. The term "assigned or transferred transferable,--" includes a transfer of a controlling interest in stock, and an assignment or transfer to an affiliated or subsidiary person or company, but the term does not include the