[Added 7-24-1967]
1.
The City of Weatherford hereby consents and agrees to the leasing
of all the city's revenue-producing utilities systems, municipal airport
properties and facilities including but not limited to the water,
sanitary sewer and garbage systems and facilities and the presently
existing municipal airport and any other proprietary revenue- producing
utility systems or facility or airport property acquired by the city
during the life of the lease for a primary term of 50 years, renewable
for successive like terms, to the Trustees of the Weatherford Public
Works Authority (a public trust of which the city is the beneficiary),
with such lease to become effective as of 12:01 a.m. on the day following
the date this ordinance shall become effective; and the Mayor of the
city hereby is authorized and directed to execute the aforesaid lease
upon behalf of the city as lessor, in several multiple originals,
and after the same shall have been attested by the City Clerk, to
deliver such lease to the trustees to the aforesaid authority.
2.
If one or more referendum petition with signatures are properly filed
within 30 days after passage and publication of this ordinance, this
ordinance shall not go into effect until the petition or petitions
are finally found to be illegal and insufficient, or, if any such
petition is found legal and sufficient, until the ordinance is approved
at an election by a majority of the qualified electors voting on the
question. If no referendum petition with signatures is filed, this
ordinance shall go into effect 30 days after its passage and publication.
