Second-class cities and villages shall have power to grant a franchise for a period of not to exceed twenty-five years, to any person, company, corporation or association, whether publicly or privately owned, to furnish light and power to the residents, citizens and corporations doing business in such city or village, and to make contracts, for a period of not to exceed five years, with such person, company or association for the furnishing of light for the streets, lanes, alleys and other public places and property of said city or village, and the inhabitants thereof, the furnishing of electricity to pump water or similar services for such city or village and to levy a tax for the purpose of paying the costs of such lighting the streets, lanes, alleys and other public places and property of said city or village. No public service company, whether publicly or privately owned, shall sell to any city of the second class or village, now generating its own electric current for all or the major portion of its electric requirements, unless first authorized so to do by a vote of the electors of such city or village, in the same manner and subject to the same conditions as are set forth in section 18-412; PROVIDED, that if no tax or issuance of bonds is required, any city of the second class or village may by resolution of the city council or board of trustees contract for the furnishing of electricity at retail to such city or village, or to any electric plant within such city or village, with any public power district, or an electric cooperative which cooperative has an approved retail service area adjoining such city or village.