No sale or lease of City real estate or of any franchise belonging
to or under the control of the City shall be made or authorized except
by vote of 3/4 of all the members of the Common Council.
Notwithstanding the provisions of Subdivision 2b of § 23
of the General City Law, or of any special act, local law or Charter,
real property owned by the City which is not needed for a public or
municipal purpose may be leased or sold at public sale or by private
sale. In the event that the Common Council determines that a private
sale would be in the best interests of the City, then a resolution
shall be passed by a vote of at least 3/4 of all of the members of
the Common Council stating that the private sale is determined to
be in the best interest of the City and that the real property which
is the subject of the sale has no viable public purpose or municipal
purpose. This section shall be deemed not to apply to real property
in which the City became the owner by and through a tax sale for nonpayment
of real estate taxes.
No franchise shall be granted or be operative for a period longer
than 50 years. The Common Council may, however, grant to the owner
or lessee of an existing franchise, under which operations are being
actually carried on, such additional rights or extensions in the street
or streets in which said franchise exists, upon such terms as the
interests of the City may require, with or without advertisements,
as the Common Council may determine; provided, however, that no such
grant shall be operative until also approved by the Mayor.
In case a demand is filed as hereinafter provided, the question
whether such proposed sale or lease of City real estate or a franchise
belonging to or under the control of the City shall be approved shall
be submitted to the voters of the City at a general or special election
after public notice to be published at least once each week for three
weeks in the official paper. Such a demand shall be subscribed and
acknowledged by the voters of the City equal in number to at least
10% of the total number of votes cast therein at the last preceding
general election and shall be filed in the office of the Clerk before
the adoption of the final ordinance or resolution approving and authorizing
such sale and lease. If such a demand is filed, as aforesaid, such
sale or lease of real estate or such franchise shall not take effect
unless, in addition to the foregoing requirements, a majority of the
electors voting thereon at such election shall vote in the affirmative.