Whenever the owners of fifty percent or more in area of the property within any district make and file with the Auditor a petition to establish a special street lighting system within that district, the Council has authority to install, operate and maintain such a system as a local improvement and to furnish electrical current therefor. The improvement may include initial installation, continuance or change of an existing installation, substitution of different materials or special styles or locations of lights or related facilities within the district, replacements, or any combination of those items. The Council may award contracts for all or a portion of the work, maintenance or electrical energy. The Council may levy and collect local assessments on property benefitted thereby for all or a portion of the cost. The Council may authorize contribution from City funds to the cost of energy, operation and maintenance in the amount it finds an appropriate allowance for regular street lights rendered unnecessary by the special lighting system. Whenever all or part of the cost of a system is to be assessed to property benefitted, the Council shall take proceedings similar to those required for street improvement districts . [Nov. 4, 1924, new sec. 338; 1928 pub., sec. 338; 1942 recod., sec. 9-602; rev. Nov. 8, 1966; am. Nov. 3, 1992.]