| http://www.w3.org/ns/prov#value | - hereafter owned by the City, shall be granted under and in pursuance to the General Laws of the State relating to the granting of franchises; provided, no new franchise or the renewal of an existing franchise shall be granted except upon the condition that at least two percent (2 per cent) of the gross annual receipts derived from the use of such franchise shall be paid the City.
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