Being a by-law to submit to a vote of the municipal electors of the City of North Bay, for their assent, a proposed by-law authorizing the Corporation of the City of North Bay to enter into an exclusive franchise agreements with Charterways Limited, granting to the said company the exclusive right to maintain and operate buses for the conveyance of passengers within the territorial limits of the City of North Bay for a period of ten (10) years, commencing on the 1st day of January, 1969, upon and subject to the terms and conditions set forth in the exclusive franchise agreement, being schedule "A" attached to and forming part of the proposed by-law