§ 7b — Power of the city to buy and sell electricity, etc

Sec. 7b. - Power of the city to buy and sell electricity, etc.

The City of Houston shall have the power to buy gas, electricity, steam, water or any other kind of power, service or commodity needed for public use, and shall have the right to resell by wholesale or retail all such gas, electricity, steam or water, power, service or commodity which it may not need for its own use; provided, that the city shall not be bound by any contract for the purchase or sale of any gas, electricity, steam or other power, commodity or service for a longer period of time than five years, unless one of the following special requirements is fulfilled, either: (i) the council has approved such contract by motion, resolution or ordinance adopted by a vote of at least two-thirds of the council, or (ii) a proposition for the making of such contract is submitted to a vote of the qualified electors of the City at an election, which proposition must include a summary of the material terms of the contract, and a majority of the votes cast on such proposition is in favor of the making of such contract. Said election shall be held in the manner provided in the applicable state laws, this Charter and the ordinance ordering the same. (Added by amendment October 15, 1913; amended August 14, 1982)