§ 1.7. Limitation on exercise of powers.

The sole and exclusive limitation on the exercise of powers of the City shall be that prior to the sale of any real property possessed by the City or prior to a conveyance by whatever means of an interest in lands possessed by the City which conveyance is for a term to exceed ten (10) years, the issue shall be submitted to a referendum vote of the electors of the City, at an election to be called by the Board of Commissioners of said City, and a majority of the votes cast shall be in favor thereof; and then and only then may the property be conveyed; provided, however, that the City shall have the power to convey public utility easements without submitting the same to a referendum vote of the electors of the City.