No franchise shall take effect until sixty (60) days after its passage unless
it shall receive a majority of the votes cast thereon at a referendum election
held for that purpose within a less time. The filing of a petition for
referendum shall defer the taking effect of a franchise until after the
election. A petition signed by two thousand (2,000) registered voters shall be
sufficient to call a referendum upon any franchise ordinance. [May 3, 1913, new
sec. 74; rev. 1914, sec. 173; 1928 pub., sec. 173; 1942 recod., sec.